Canadian Imperial Bank of Commerce (TSE:CM) Insider Christopher John Anderson Sells 1,000 Shares

Canadian Imperial Bank of Commerce (TSE:CM) (NYSE:CM) insider Christopher John Anderson sold 1,000 shares of the firm’s stock in a transaction on Friday, June 5th. The stock was sold at an average price of C$152.15, for a total value of C$152,150.00. Following the transaction, the insider owned 6,252 shares in the company, valued at C$951,241.80. This trade represents a 13.79% decrease in their ownership of the stock.

Canadian Imperial Bank of Commerce Price Performance

CM traded up C$1.08 during trading hours on Monday, hitting C$152.95. 794,757 shares of the stock were exchanged, compared to its average volume of 2,542,965. The stock has a 50-day simple moving average of C$147.99 and a 200-day simple moving average of C$135.49. Canadian Imperial Bank of Commerce has a 12 month low of C$91.94 and a 12 month high of C$162.12. The stock has a market cap of C$139.61 billion, a price-to-earnings ratio of 15.17, a price-to-earnings-growth ratio of 3.03 and a beta of 1.42.

Canadian Imperial Bank of Commerce (TSE:CM) (NYSE:CM) last announced its quarterly earnings data on Thursday, May 28th. The company reported C$2.54 earnings per share (EPS) for the quarter. Canadian Imperial Bank of Commerce had a return on equity of 15.24% and a net margin of 18.44%.The firm had revenue of C$8.01 billion for the quarter. Sell-side analysts expect 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 announced a quarterly dividend, which was paid on Tuesday, April 28th. Shareholders of record on Tuesday, April 28th were paid a $1.07 dividend. This represents a $4.28 dividend on an annualized basis and a yield of 2.8%. The ex-dividend date was Friday, March 27th. Canadian Imperial Bank of Commerce’s dividend payout ratio (DPR) is presently 40.48%.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on CM shares. Canaccord Genuity Group raised their target price on 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. Raymond James Financial cut their target price on Canadian Imperial Bank of Commerce from C$157.50 to C$155.50 and set a “market perform” rating on the stock in a research note on Friday, May 29th. Scotiabank cut Canadian Imperial Bank of Commerce from a “sector outperform” rating to a “hold” rating in a research note on Monday, June 1st. National Bank Financial raised their target price on Canadian Imperial Bank of Commerce from C$150.00 to C$152.00 and gave the company a “sector perform” rating in a research note on Friday, May 15th. Finally, TD cut their target price on Canadian Imperial Bank of Commerce from C$166.00 to C$163.00 and set a “buy” rating on the stock in a research note on Friday, May 29th. Six investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of C$153.05.

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.