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

Canadian Imperial Bank of Commerce (TSE:CM) (NYSE:CM) insider Amy Florence South sold 1,200 shares of the stock in a transaction on Monday, June 22nd. The shares were 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

Shares of CM traded up C$1.12 during trading hours on Monday, hitting C$161.43. The stock had a trading volume of 1,061,835 shares, compared to its average volume of 2,539,513. The firm has a market capitalization of C$147.35 billion, a PE ratio of 16.01, a PEG ratio of 3.03 and a beta of 1.42. Canadian Imperial Bank of Commerce has a 12 month low of C$94.40 and a 12 month high of C$162.12. The stock has a fifty day moving average price of C$152.35 and a 200 day moving average price of C$137.94.

Canadian Imperial Bank of Commerce (TSE:CM) (NYSE:CM) last posted its earnings results on Thursday, May 28th. The company reported C$2.54 earnings per share for the quarter. The company had revenue of C$8.01 billion for the quarter. Canadian Imperial Bank of Commerce had a return on equity of 15.24% and a net margin of 18.44%. As a group, analysts anticipate that Canadian Imperial Bank of Commerce will post 6.4127341 EPS for the current fiscal year.

Canadian Imperial Bank of Commerce Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, April 28th. Investors of record on Tuesday, April 28th were given a dividend of $1.07 per share. This represents a $4.28 annualized dividend and a yield of 2.7%. The ex-dividend date was Friday, March 27th. Canadian Imperial Bank of Commerce’s payout ratio is 40.48%.

Wall Street Analyst Weigh In

CM has been the subject of several recent research reports. Scotiabank boosted their price target on Canadian Imperial Bank of Commerce from C$155.00 to C$157.00 and gave the company a “sector perform” rating in a report on Tuesday, June 16th. TD lowered their target price 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 research note on Friday, May 29th. Canaccord Genuity Group boosted their price objective on Canadian Imperial Bank of Commerce from C$158.00 to C$160.00 and gave the company a “hold” rating in a research report on Friday, June 5th. Jefferies Financial Group boosted their price target on Canadian Imperial Bank of Commerce from C$136.00 to C$143.00 in a report on Wednesday, May 20th. Finally, Barclays upped their price target on Canadian Imperial Bank of Commerce from C$137.00 to C$141.00 in a research note 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, Canadian Imperial Bank of Commerce currently 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.