Harry Kenneth Culham Sells 50,000 Shares of Canadian Imperial Bank of Commerce (TSE:CM) Stock

Canadian Imperial Bank of Commerce (TSE:CM) (NYSE:CM) Director Harry Kenneth Culham sold 50,000 shares of the company’s stock in a transaction on Wednesday, September 25th. The shares were sold at an average price of C$83.42, for a total transaction of C$4,170,750.00.

Harry Kenneth Culham also recently made the following trade(s):

• On Friday, September 13th, Harry Kenneth Culham sold 47,430 shares of Canadian Imperial Bank of Commerce stock. The shares were sold at an average price of C$83.41, for a total transaction of C$3,956,136.30.
• On Monday, September 9th, Harry Kenneth Culham sold 50,000 shares of Canadian Imperial Bank of Commerce stock. The stock was sold at an average price of C$81.87, for a total transaction of C$4,093,500.00.

Canadian Imperial Bank of Commerce Price Performance

The firm has a 50 day moving average price of C$75.47 and a 200 day moving average price of C$69.69. Canadian Imperial Bank of Commerce has a 12-month low of C$47.44 and a 12-month high of C$84.46. The firm has a market cap of C$78.22 billion, a PE ratio of 12.00, a PEG ratio of 3.01 and a beta of 1.12.

Canadian Imperial Bank of Commerce (TSE:CM) (NYSE:CM) last announced its quarterly earnings data on Thursday, August 29th. The company reported C$1.93 EPS for the quarter, beating the consensus estimate of C$1.75 by C$0.18. The business had revenue of C$6.60 billion during the quarter, compared to the consensus estimate of C$6.31 billion. Canadian Imperial Bank of Commerce had a net margin of 29.56% and a return on equity of 12.37%. On average, sell-side analysts forecast that Canadian Imperial Bank of Commerce will post 7.5778986 EPS for the current fiscal year.

Canadian Imperial Bank of Commerce Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, October 28th. Investors of record on Monday, October 28th will be given a dividend of $0.90 per share. The ex-dividend date is Friday, September 27th. This represents a $3.60 annualized dividend and a dividend yield of ∞. Canadian Imperial Bank of Commerce’s dividend payout ratio is currently 52.10%.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on CM. Canaccord Genuity Group increased their target price on Canadian Imperial Bank of Commerce from C$74.00 to C$75.00 in a research note on Tuesday, August 13th. Cormark raised Canadian Imperial Bank of Commerce from a “market perform” rating to a “buy” rating and lifted their target price for the stock from C$75.00 to C$83.00 in a report on Friday, August 30th. Keefe, Bruyette & Woods raised shares of Canadian Imperial Bank of Commerce from a “hold” rating to a “moderate buy” rating in a research report on Monday, June 3rd. Scotiabank raised their price target on shares of Canadian Imperial Bank of Commerce from C$77.00 to C$85.00 and gave the stock an “outperform” rating in a research report on Friday, August 30th. Finally, Desjardins boosted their price objective on shares of Canadian Imperial Bank of Commerce from C$77.00 to C$83.00 and gave the company a “buy” rating in a report on Friday, August 30th. One analyst has rated the stock with a sell rating, three have issued a hold rating and eight have issued a buy rating to the stock. According to MarketBeat.com, Canadian Imperial Bank of Commerce presently has an average rating of “Moderate Buy” and a consensus target price 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.