Insider Selling: Canadian Imperial Bank of Commerce (TSE:CM) Insider Sells 1,200 Shares

Canadian Imperial Bank of Commerce (TSE:CM) (NYSE:CM) insider Amy Florence South sold 1,200 shares of the firm’s stock in a transaction on Monday, June 22nd. The stock was sold at an average price of C$160.92, for a total value of C$193,104.00.

Canadian Imperial Bank of Commerce Price Performance

Canadian Imperial Bank of Commerce stock traded up C$1.12 during mid-day trading on Monday, reaching C$161.43. 1,061,835 shares of the company traded hands, compared to its average volume of 2,539,513. The firm’s 50 day moving average price is C$152.35 and its 200 day moving average price is C$137.94. The firm has a market capitalization of C$147.35 billion, a price-to-earnings ratio of 16.01, a P/E/G ratio of 3.03 and a beta of 1.42. Canadian Imperial Bank of Commerce has a 52-week low of C$94.40 and a 52-week high of C$162.12.

Canadian Imperial Bank of Commerce (TSE:CM) (NYSE:CM) last issued its quarterly earnings data on Thursday, May 28th. The company reported C$2.54 EPS for the quarter. The business had revenue of C$8.01 billion during the quarter. Canadian Imperial Bank of Commerce had a net margin of 18.44% and a return on equity of 15.24%. On average, sell-side analysts anticipate that Canadian Imperial Bank of Commerce will post 6.4127341 EPS for the current year.

Canadian Imperial Bank of Commerce Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, April 28th. Shareholders of record on Tuesday, April 28th were issued a $1.07 dividend. The ex-dividend date was Friday, March 27th. This represents a $4.28 annualized dividend and a yield of 2.7%. Canadian Imperial Bank of Commerce’s dividend payout ratio (DPR) is 40.48%.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the company. National Bank Financial upped their price target on Canadian Imperial Bank of Commerce from C$150.00 to C$152.00 and gave the stock a “sector perform” rating in a research note on Friday, May 15th. Jefferies Financial Group lifted their price target on shares of Canadian Imperial Bank of Commerce from C$136.00 to C$143.00 in a research report on Wednesday, May 20th. TD cut their price objective on shares of Canadian Imperial Bank of Commerce from C$166.00 to C$163.00 and set a “buy” rating on the stock in a report on Friday, May 29th. Canaccord Genuity Group raised their target price on shares of Canadian Imperial Bank of Commerce from C$158.00 to C$160.00 and gave the company a “hold” rating in a research note on Friday, June 5th. Finally, Barclays lifted their target price on shares of Canadian Imperial Bank of Commerce from C$137.00 to C$141.00 in a report on Monday, March 2nd. Six analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of C$152.86.

About Canadian Imperial Bank of Commerce

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.