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

Canadian Imperial Bank of Commerce (TSE:CM - Get Free Report) NYSE: CM Senior Officer Hratch Dikran Panossian sold 9,006 shares of the business's 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 Stock Up 1.0%

Shares of CM traded up C$0.97 during mid-day trading on Monday, hitting C$95.66. 4,582,154 shares of the company traded hands, compared to its average volume of 3,827,751. Canadian Imperial Bank of Commerce has a 1-year low of C$64.65 and a 1-year high of C$96.45. The company has a market capitalization of C$89.50 billion, a PE ratio of 12.63, a price-to-earnings-growth ratio of 3.03 and a beta of 1.12. The business has a 50 day moving average of C$90.11 and a 200 day moving average of C$88.15.

Canadian Imperial Bank of Commerce Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, July 28th. Investors of record on Monday, July 28th will be issued a $0.97 dividend. The ex-dividend date of this dividend is Friday, June 27th. This represents a $3.88 annualized dividend and a yield of 4.06%. Canadian Imperial Bank of Commerce's dividend payout ratio (DPR) is presently 47.55%.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the stock. National Bankshares set a C$95.00 price objective on shares of Canadian Imperial Bank of Commerce and gave the company an "outperform" rating in a research report on Thursday, May 22nd. Barclays boosted their price objective on shares of Canadian Imperial Bank of Commerce from C$90.00 to C$94.00 and gave the company an "underperform" rating in a research report on Monday, June 9th. Canaccord Genuity Group cut their price objective on shares of Canadian Imperial Bank of Commerce from C$93.00 to C$92.00 in a research report on Monday, May 12th. National Bank Financial cut shares of Canadian Imperial Bank of Commerce from an "outperform" rating to a "sector perform" rating in a research report on Thursday, May 29th. Finally, Jefferies Financial Group cut shares of Canadian Imperial Bank of Commerce from a "buy" rating to a "hold" rating and cut their price objective for the company from C$100.00 to C$89.00 in a research report on Monday, April 21st. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target 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.