Canadian Imperial Bank of Commerce (TSE:CM) Senior Officer Robert Sedran Sells 20,652 Shares of Stock

Canadian Imperial Bank of Commerce (TSE:CM) (NYSE:CM) Senior Officer Robert Sedran sold 20,652 shares of the company’s stock in a transaction on Thursday, December 12th. The shares were sold at an average price of C$94.97, for a total value of C$1,961,227.51.

Canadian Imperial Bank of Commerce Stock Down 1.0 %

CM opened at C$94.40 on Friday. The firm’s 50-day moving average price is C$87.99 and its 200-day moving average price is C$76.98. The company has a market cap of C$89.21 billion, a P/E ratio of 13.66, a price-to-earnings-growth ratio of 3.03 and a beta of 1.12. Canadian Imperial Bank of Commerce has a 52-week low of C$58.26 and a 52-week high of C$95.50.

Canadian Imperial Bank of Commerce Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 28th. Stockholders of record on Friday, December 27th will be issued a $0.97 dividend. This is a positive change from Canadian Imperial Bank of Commerce’s previous quarterly dividend of $0.90. This represents a $3.88 dividend on an annualized basis and a dividend yield of 4.11%. Canadian Imperial Bank of Commerce’s dividend payout ratio is currently 52.10%.

Wall Street Analyst Weigh In

Several research analysts recently commented on CM shares. Scotiabank raised their price target on shares of Canadian Imperial Bank of Commerce from C$108.00 to C$114.00 in a research note on Friday, December 6th. Bank of America upgraded Canadian Imperial Bank of Commerce from a “neutral” rating to a “buy” rating and raised their price objective for the stock from C$74.00 to C$90.00 in a report on Friday, August 30th. Desjardins increased their price target on Canadian Imperial Bank of Commerce from C$77.00 to C$83.00 and gave the stock a “buy” rating in a research report on Friday, August 30th. Canaccord Genuity Group lifted their price objective on Canadian Imperial Bank of Commerce from C$92.00 to C$99.00 in a report on Friday, December 6th. Finally, Cormark increased their target price on shares of Canadian Imperial Bank of Commerce from C$99.00 to C$104.00 in a report on Friday, December 6th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat.com, Canadian Imperial Bank of Commerce presently has an average rating of “Moderate Buy” and an average price target of C$90.00.

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.