Insider Selling: Canadian Imperial Bank of Commerce (TSE:CM) Insider Sells 6,000 Shares of Stock

Canadian Imperial Bank of Commerce (TSE:CM) (NYSE:CM) insider Stephen Alan Scholtz sold 6,000 shares of the firm’s stock in a transaction on Wednesday, June 24th. The stock was sold at an average price of C$162.70, for a total value of C$976,200.00.

Canadian Imperial Bank of Commerce Stock Performance

Shares of CM traded down C$0.18 during mid-day trading on Thursday, reaching C$161.99. 1,352,824 shares of the company were exchanged, compared to its average volume of 2,556,394. Canadian Imperial Bank of Commerce has a 52 week low of C$95.01 and a 52 week high of C$163.59. The stock has a market capitalization of C$147.86 billion, a PE ratio of 16.07, a PEG ratio of 3.03 and a beta of 1.42. The business has a 50 day simple moving average of C$153.52 and a two-hundred day simple moving average of C$138.77.

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

Canadian Imperial Bank of Commerce Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, April 28th. Investors 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 2.6%. Canadian Imperial Bank of Commerce’s payout ratio is presently 40.48%.

Analysts Set New Price Targets

Several research analysts have recently weighed in on CM shares. Jefferies Financial Group lifted their price objective on Canadian Imperial Bank of Commerce from C$136.00 to C$143.00 in a research report on Wednesday, May 20th. Royal Bank Of Canada decreased their target price on Canadian Imperial Bank of Commerce from C$158.00 to C$147.00 and set an “outperform” rating for the company in a research note on Wednesday, March 25th. Canaccord Genuity Group lifted their target price on Canadian Imperial Bank of Commerce from C$158.00 to C$160.00 and gave the stock a “hold” rating in a report on Friday, June 5th. Desjardins lifted their target price on Canadian Imperial Bank of Commerce from C$152.00 to C$160.00 and gave the stock a “buy” rating in a report on Tuesday, May 5th. Finally, BMO Capital Markets boosted their price target on Canadian Imperial Bank of Commerce from C$135.00 to C$150.00 and gave the company an “outperform” rating in a research note on Friday, February 27th. Six research analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat.com, Canadian Imperial Bank of Commerce presently has a consensus rating of “Moderate Buy” and a consensus target price of C$152.86.

Canadian Imperial Bank of Commerce Company Profile

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.