Canadian Imperial Bank of Commerce (TSE:CM) Senior Officer Sells C$858,567.89 in Stock

Canadian Imperial Bank of Commerce (TSE:CM - Get Free Report) NYSE: CM Senior Officer Shawn Beber sold 9,107 shares of the business's stock in a transaction dated Friday, June 6th. The stock was sold at an average price of C$94.28, for a total value of C$858,567.89.

Canadian Imperial Bank of Commerce Stock Down 0.3%

CM traded down C$0.32 during trading on Friday, hitting C$92.61. The company's stock had a trading volume of 3,040,852 shares, compared to its average volume of 3,810,506. The firm has a market capitalization of C$86.64 billion, a P/E ratio of 12.23, a PEG ratio of 3.03 and a beta of 1.12. Canadian Imperial Bank of Commerce has a twelve month low of C$64.63 and a twelve month high of C$96.45. The stock's fifty day moving average price is C$88.06 and its 200-day moving average price is C$88.04.

Canadian Imperial Bank of Commerce Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, July 28th. Shareholders of record on Friday, June 27th will be issued a $0.97 dividend. This represents a $3.88 dividend on an annualized basis and a yield of 4.19%. Canadian Imperial Bank of Commerce's payout ratio is 47.55%.

Wall Street Analyst Weigh In

CM has been the topic of a number of research analyst reports. Canaccord Genuity Group cut their target price on shares of Canadian Imperial Bank of Commerce from C$93.00 to C$92.00 in a research report on Monday, May 12th. TD Securities cut their price objective on Canadian Imperial Bank of Commerce from C$100.00 to C$99.00 and set a "buy" rating on the stock in a report on Friday, February 28th. National Bank Financial lowered Canadian Imperial Bank of Commerce from an "outperform" rating to a "sector perform" rating in a research report on Thursday, May 29th. Royal Bank of Canada dropped their target price on Canadian Imperial Bank of Commerce from C$116.00 to C$112.00 and set an "outperform" rating for the company in a research report on Monday. Finally, Jefferies Financial Group lowered Canadian Imperial Bank of Commerce from a "buy" rating to a "hold" rating and cut their price target for the company from C$100.00 to C$89.00 in a research note on Monday, April 21st. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of C$95.92.

Canadian Imperial Bank of Commerce Company Profile

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.