Canadian Imperial Bank of Commerce (TSE:CM) Insider Sells C$680,827.38 in Stock

Key Points

• Insider sale: CIBC insider Amy Florence South sold 4,218 shares at an average price of C$161.41, totaling approximately C$680,827.
• Stock and dividend: CIBC shares rose 2.1% to C$160.72, while the bank announced a quarterly dividend of C$1.07, equivalent to C$4.28 annually and a 2.7% yield.
• Analyst view: Analysts have a consensus “Hold” rating, with an average price target of C$167.79; five analysts rate the stock a Buy and seven rate it a Hold.

Canadian Imperial Bank of Commerce (TSE:CM - Get Free Report) NYSE: CM insider Amy Florence South sold 4,218 shares of the firm's stock in a transaction that occurred on Tuesday, September 22nd. The stock was sold at an average price of C$161.41, for a total transaction of C$680,827.38.

Canadian Imperial Bank of Commerce Stock Up 2.1%

Shares of TSE:CM traded up C$3.26 during midday trading on Friday, reaching C$160.72. The company's stock had a trading volume of 1,435,317 shares, compared to its average volume of 2,537,703. The stock has a fifty day moving average of C$163.09 and a 200 day moving average of C$154.65. Canadian Imperial Bank of Commerce has a twelve month low of C$109.74 and a twelve month high of C$172.87. The firm has a market capitalization of C$145.92 billion, a PE ratio of 15.42, a P/E/G ratio of 3.03 and a beta of 1.26.

Canadian Imperial Bank of Commerce (TSE:CM - Get Free Report) NYSE: CM last posted its quarterly earnings results on Thursday, August 27th. The company reported C$2.73 EPS for the quarter. The company had revenue of C$8.37 billion for the quarter. Canadian Imperial Bank of Commerce had a net margin of 16.13% and a return on equity of 15.44%. Sell-side analysts anticipate that Canadian Imperial Bank of Commerce will post 6.4127341 earnings per share for the current fiscal year.

Canadian Imperial Bank of Commerce Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, October 28th. Stockholders of record on Wednesday, October 28th will be paid a $1.07 dividend. The ex-dividend date is Monday, September 28th. This represents a $4.28 dividend on an annualized basis and a dividend yield of 2.7%. Canadian Imperial Bank of Commerce's dividend payout ratio is presently 40.12%.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on CM. TD lifted their price target on Canadian Imperial Bank of Commerce from C$163.00 to C$175.00 and gave the company a "buy" rating in a research report on Wednesday, August 12th. Desjardins lowered their price target on shares of Canadian Imperial Bank of Commerce from C$173.00 to C$170.00 and set a "hold" rating on the stock in a report on Friday, August 28th. Barclays lifted their price objective on shares of Canadian Imperial Bank of Commerce from C$144.00 to C$170.00 in a report on Friday, August 21st. National Bank Financial set a C$180.00 target price on shares of Canadian Imperial Bank of Commerce and gave the stock a "sector perform" rating in a research note on Monday, August 24th. Finally, Jefferies Financial Group lifted their price target on Canadian Imperial Bank of Commerce from C$153.00 to C$154.00 in a research note on Thursday, September 3rd. Five equities research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the stock. According to MarketBeat.com, the stock has an average rating of "Hold" and an average target price of C$167.79.

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.

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