Canadian Imperial Bank of Commerce (TSE:CM) Insider Sells C$635,800.00 in Stock

Canadian Imperial Bank of Commerce (TSE:CM) (NYSE:CM) insider Frank Guse sold 5,000 shares of the stock in a transaction on Wednesday, December 24th. The stock was sold at an average price of C$127.16, for a total transaction of C$635,800.00. Following the completion of the sale, the insider owned 1,359 shares in the company, valued at C$172,810.44. The trade was a 78.63% decrease in their position.

Canadian Imperial Bank of Commerce Stock Down 0.3%

Shares of CM stock traded down C$0.40 during trading hours on Friday, hitting C$127.04. 2,626,304 shares of the company’s stock were exchanged, compared to its average volume of 2,677,222. The firm has a market cap of C$117.72 billion, a P/E ratio of 14.82, a P/E/G ratio of 3.03 and a beta of 1.31. The firm has a 50 day moving average of C$124.89 and a two-hundred day moving average of C$113.94. Canadian Imperial Bank of Commerce has a fifty-two week low of C$76.17 and a fifty-two week high of C$129.25.

Canadian Imperial Bank of Commerce (TSE:CM) (NYSE:CM) last issued its quarterly earnings results on Thursday, December 4th. The company reported C$2.21 earnings per share (EPS) for the quarter. The firm had revenue of C$7.58 billion for the quarter. Canadian Imperial Bank of Commerce had a return on equity of 12.61% and a net margin of 27.87%. On average, equities analysts forecast that Canadian Imperial Bank of Commerce will post 6.4127341 earnings per share for the current fiscal year.

Canadian Imperial Bank of Commerce Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 28th. Investors of record on Wednesday, January 28th will be paid a dividend of $1.07 per share. The ex-dividend date is Monday, December 29th. This is a positive change from Canadian Imperial Bank of Commerce’s previous quarterly dividend of $0.97. This represents a $4.28 dividend on an annualized basis and a dividend yield of 3.4%. Canadian Imperial Bank of Commerce’s payout ratio is currently 45.27%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the company. Barclays lifted their price objective on Canadian Imperial Bank of Commerce from C$119.00 to C$126.00 in a report on Monday, December 8th. Raymond James Financial lifted their price objective on Canadian Imperial Bank of Commerce from C$127.00 to C$132.00 and gave the stock a “market perform” rating in a research report on Friday, December 5th. TD Securities increased their price objective on shares of Canadian Imperial Bank of Commerce from C$124.00 to C$134.00 and gave the stock a “buy” rating in a report on Friday, December 5th. Royal Bank Of Canada lifted their target price on Canadian Imperial Bank of Commerce from C$131.00 to C$134.00 and gave the company an “outperform” rating in a report on Monday, January 5th. Finally, National Bankshares upped their price target on Canadian Imperial Bank of Commerce from C$121.00 to C$128.00 and gave the stock a “sector perform” rating in a research note on Friday, December 5th. Four research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, Canadian Imperial Bank of Commerce has a consensus rating of “Hold” and a consensus price target of C$126.09.

Canadian Imperial Bank of Commerce Company Profile

CIBC is a leading North American financial institution with 15 million personal banking, business, public sector and institutional clients. Across Personal and Business Banking, Commercial Banking and Wealth Management, and Capital Markets, CIBC offers a full range of advice, solutions and services through its leading digital banking network, and locations across Canada, in the United States and around the world.