Insider Selling: Canadian Imperial Bank of Commerce (TSE:CM) Senior Officer Sells 9,006 Shares of Stock

Canadian Imperial Bank of Commerce (TSE:CM) (NYSE:CM) Senior Officer Hratch Dikran Panossian sold 9,006 shares of the stock in a transaction on Monday, June 23rd. The stock was sold at an average price of C$94.96, for a total transaction of C$855,240.38.

Canadian Imperial Bank of Commerce Trading Down 0.1%

CM stock opened at C$96.35 on Thursday. Canadian Imperial Bank of Commerce has a 1-year low of C$64.65 and a 1-year high of C$97.04. The business’s 50 day simple moving average is C$90.70 and its 200 day simple moving average is C$88.27. The firm has a market capitalization of C$90.14 billion, a PE ratio of 12.73, a PEG ratio of 3.03 and a beta of 1.12.

Canadian Imperial Bank of Commerce Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, July 28th. Shareholders of record on Monday, July 28th will be given a dividend of $0.97 per share. The ex-dividend date of this dividend is Friday, June 27th. This represents a $3.88 dividend on an annualized basis and a yield of 4.03%. Canadian Imperial Bank of Commerce’s dividend payout ratio (DPR) is 47.55%.

Wall Street Analysts Forecast Growth

Several brokerages have commented on CM. Scotiabank raised shares of Canadian Imperial Bank of Commerce to a “strong-buy” rating in a research report on Thursday, May 15th. National Bank Financial cut Canadian Imperial Bank of Commerce from an “outperform” rating to a “sector perform” rating in a research report on Thursday, May 29th. Canaccord Genuity Group set a C$96.00 price target on Canadian Imperial Bank of Commerce and gave the stock a “hold” rating in a research report on Tuesday. Royal Bank Of Canada dropped their price objective on Canadian Imperial Bank of Commerce from C$116.00 to C$112.00 and set an “outperform” rating on the stock in a research note on Monday, June 9th. Finally, National Bankshares set a C$95.00 target price on shares of Canadian Imperial Bank of Commerce and gave the company an “outperform” rating in a research note on Thursday, May 22nd. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Canadian Imperial Bank of Commerce has a consensus rating of “Moderate Buy” and an average price target of C$96.23.

About Canadian Imperial Bank of Commerce

Canadian Imperial Bank of Commerce is Canada’s fifth- largest bank, operating three business segments: retail and business banking, wealth management, and capital markets. It serves approximately 11 million personal banking and business customers, primarily in Canada.