Insider Selling: Canadian Imperial Bank of Commerce (TSE:CM) Insider Sells C$635,800.00 in Stock

Canadian Imperial Bank of Commerce (TSE:CM) (NYSE:CM) insider Frank Guse sold 5,000 shares of Canadian Imperial Bank of Commerce stock in a transaction on Wednesday, December 24th. The shares were sold at an average price of C$127.16, for a total value of C$635,800.00. Following the completion of the transaction, the insider owned 1,359 shares in the company, valued at C$172,810.44. This represents a 78.63% decrease in their ownership of the stock.

Canadian Imperial Bank of Commerce Price Performance

Shares of CM stock opened at C$125.51 on Tuesday. The stock’s 50-day moving average is C$124.96 and its 200 day moving average is C$114.33. Canadian Imperial Bank of Commerce has a 1-year low of C$76.17 and a 1-year high of C$129.25. The company has a market cap of C$116.30 billion, a P/E ratio of 14.65, a PEG ratio of 3.03 and a beta of 1.31.

Canadian Imperial Bank of Commerce (TSE:CM) (NYSE:CM) last released its quarterly earnings results on Thursday, December 4th. The company reported C$2.21 earnings per share for the quarter. Canadian Imperial Bank of Commerce had a net margin of 27.87% and a return on equity of 12.61%. The business had revenue of C$7.58 billion for the quarter. On average, analysts anticipate that Canadian Imperial Bank of Commerce will post 6.4127341 EPS for the current year.

Canadian Imperial Bank of Commerce Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 28th. Shareholders of record on Wednesday, January 28th will be issued a $1.07 dividend. This is an increase from Canadian Imperial Bank of Commerce’s previous quarterly dividend of $0.97. This represents a $4.28 dividend on an annualized basis and a dividend yield of 3.4%. The ex-dividend date of this dividend is Monday, December 29th. Canadian Imperial Bank of Commerce’s dividend payout ratio is 45.27%.

Analyst Ratings Changes

CM has been the topic of several recent research reports. TD Securities upped their price objective on Canadian Imperial Bank of Commerce from C$124.00 to C$134.00 and gave the stock a “buy” rating in a research report on Friday, December 5th. Barclays increased their price objective on Canadian Imperial Bank of Commerce from C$119.00 to C$126.00 in a research note on Monday, December 8th. BMO Capital Markets boosted their target price on Canadian Imperial Bank of Commerce from C$130.00 to C$135.00 in a report on Wednesday, December 17th. Desjardins upped their price objective on shares of Canadian Imperial Bank of Commerce from C$132.00 to C$135.00 and gave the company a “buy” rating in a report on Thursday, December 18th. Finally, Jefferies Financial Group boosted their target price on shares of Canadian Imperial Bank of Commerce from C$106.00 to C$118.00 and gave the company a “hold” rating in a report on Tuesday, November 25th. Four equities research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, Canadian Imperial Bank of Commerce has an average rating of “Hold” and a consensus target price of C$126.09.

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.