John Hountalas Sells 32,018 Shares of Canadian Imperial Bank of Commerce (TSE:CM) Stock

Canadian Imperial Bank of Commerce (TSE:CM - Get Free Report) NYSE: CM Senior Officer John Hountalas sold 32,018 shares of the stock in a transaction that occurred on Thursday, June 5th. The shares were sold at an average price of C$93.87, for a total transaction of C$3,005,657.73.

Canadian Imperial Bank of Commerce Stock Up 0.3%

TSE CM traded up C$0.26 on Friday, hitting C$94.16. 354,729 shares of the stock were exchanged, compared to its average volume of 3,851,200. Canadian Imperial Bank of Commerce has a fifty-two week low of C$64.63 and a fifty-two week high of C$96.45. The company has a market cap of C$88.09 billion, a PE ratio of 12.44, a PEG ratio of 3.03 and a beta of 1.12. The company has a 50-day moving average price of C$86.83 and a 200-day moving average price of C$87.92.

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 Friday, June 27th will be paid a dividend of $0.97 per share. This represents a $3.88 dividend on an annualized basis and a yield of 4.12%. Canadian Imperial Bank of Commerce's dividend payout ratio is currently 47.55%.

Analyst Upgrades and Downgrades

CM has been the subject of several research analyst reports. TD Securities cut their target price on shares of Canadian Imperial Bank of Commerce from C$100.00 to C$99.00 and set a "buy" rating for the company in a research note on Friday, February 28th. Jefferies Financial Group lowered shares of Canadian Imperial Bank of Commerce from a "buy" rating to a "hold" rating and lowered their target price for the stock from C$100.00 to C$89.00 in a report on Monday, April 21st. UBS Group decreased their price objective on shares of Canadian Imperial Bank of Commerce from C$102.00 to C$96.00 in a report on Friday, February 14th. Royal Bank of Canada set a C$108.00 price target on shares of Canadian Imperial Bank of Commerce and gave the company an "outperform" rating in a report on Monday, March 17th. Finally, 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. One research analyst has rated the stock with a sell rating, three have issued a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of C$94.31.

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.

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