Stephen Alan Scholtz Sells 6,000 Shares of Canadian Imperial Bank of Commerce (TSE:CM) 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 dated Wednesday, June 24th. The shares were sold at an average price of C$162.70, for a total value of C$976,200.00.

Canadian Imperial Bank of Commerce Price Performance

Shares of Canadian Imperial Bank of Commerce stock opened at C$161.25 on Friday. Canadian Imperial Bank of Commerce has a one year low of C$95.01 and a one year high of C$163.59. The business’s 50 day simple moving average is C$154.12 and its two-hundred day simple moving average is C$139.18. The stock has a market capitalization of C$147.19 billion, a P/E ratio of 16.00, 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 released its quarterly earnings data on Thursday, May 28th. The company reported C$2.54 earnings per share for the quarter. Canadian Imperial Bank of Commerce had a return on equity of 15.24% and a net margin of 18.44%.The business had revenue of C$8.01 billion during the quarter. Sell-side analysts expect that Canadian Imperial Bank of Commerce will post 6.4127341 earnings per share for the current fiscal year.

Canadian Imperial Bank of Commerce Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 28th. Investors of record on Tuesday, July 28th will be given a dividend of $1.07 per share. This represents a $4.28 dividend on an annualized basis and a yield of 2.7%. The ex-dividend date of this dividend is Monday, June 29th. Canadian Imperial Bank of Commerce’s dividend payout ratio (DPR) is 40.48%.

Analyst Ratings Changes

A number of equities analysts recently weighed in on CM shares. TD Securities boosted their price objective on shares of Canadian Imperial Bank of Commerce from C$142.00 to C$153.00 and gave the stock a “buy” rating in a report on Friday, February 27th. Royal Bank Of Canada cut their target price on Canadian Imperial Bank of Commerce from C$158.00 to C$147.00 and set an “outperform” rating on the stock in a research note on Wednesday, March 25th. Jefferies Financial Group lifted their target price on Canadian Imperial Bank of Commerce from C$136.00 to C$143.00 in a report on Wednesday, May 20th. Scotiabank boosted their price target on Canadian Imperial Bank of Commerce from C$155.00 to C$157.00 and gave the stock a “sector perform” rating in a research note on Tuesday, June 16th. Finally, Desjardins upped their price target on Canadian Imperial Bank of Commerce from C$152.00 to C$160.00 and gave the company a “buy” rating in a report on Tuesday, May 5th. Six research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target 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.