Insider Selling: Canadian Imperial Bank of Commerce (TSE:CM) Senior Officer Sells C$3,087,634.80 in Stock

Canadian Imperial Bank of Commerce (TSE:CM) (NYSE:CM) Senior Officer Christina Charlotte Kramer sold 37,022 shares of the firm’s stock in a transaction on Monday, September 16th. The stock was sold at an average price of C$83.40, for a total value of C$3,087,634.80.

Canadian Imperial Bank of Commerce Stock Performance

TSE:CM opened at C$82.94 on Thursday. Canadian Imperial Bank of Commerce has a 52-week low of C$47.44 and a 52-week high of C$84.07. The stock has a fifty day moving average of C$73.61 and a 200 day moving average of C$69.00. The firm has a market capitalization of C$78.34 billion, a price-to-earnings ratio of 12.00, a P/E/G ratio of 3.01 and a beta of 1.12.

Canadian Imperial Bank of Commerce Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, October 28th. Stockholders of record on Monday, October 28th will be given a dividend of $0.90 per share. The ex-dividend date of this dividend is Friday, September 27th. This represents a $3.60 dividend on an annualized basis and a dividend yield of 4.34%. Canadian Imperial Bank of Commerce’s dividend payout ratio (DPR) is presently 52.10%.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on CM. Keefe, Bruyette & Woods upgraded Canadian Imperial Bank of Commerce from a “hold” rating to a “moderate buy” rating in a research note on Monday, June 3rd. Desjardins lifted their target price on shares of Canadian Imperial Bank of Commerce from C$77.00 to C$83.00 and gave the stock a “buy” rating in a research note on Friday, August 30th. Scotiabank upped their price target on shares of Canadian Imperial Bank of Commerce from C$77.00 to C$85.00 and gave the company an “outperform” rating in a research note on Friday, August 30th. TD Securities cut their price objective on shares of Canadian Imperial Bank of Commerce from C$93.00 to C$91.00 and set a “buy” rating for the company in a report on Friday, August 30th. Finally, Barclays boosted their target price on shares of Canadian Imperial Bank of Commerce from C$71.00 to C$77.00 and gave the company an “underweight” rating in a report on Friday, August 30th. One research analyst has rated the stock with a sell rating, three have given a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of C$79.15.

About Canadian Imperial Bank of Commerce

Canadian Imperial Bank of Commerce, a diversified financial institution, provides various financial products and services to personal, business, public sector, and institutional clients in Canada, the United States, and internationally. The company operates through Canadian Personal and Business Banking; Canadian Commercial Banking and Wealth Management; U.S.