Shawn Beber Sells 9,107 Shares of Canadian Imperial Bank of Commerce (TSE:CM) Stock

Canadian Imperial Bank of Commerce (TSE:CM) (NYSE:CM) Senior Officer Shawn Beber sold 9,107 shares of Canadian Imperial Bank of Commerce stock in a transaction that occurred on Friday, June 6th. The shares were sold at an average price of C$94.28, for a total transaction of C$858,567.89.

Canadian Imperial Bank of Commerce Trading Down 0.9%

CM stock opened at C$92.87 on Thursday. The firm has a 50 day simple moving average of C$87.77 and a 200-day simple moving average of C$88.00. The company has a market capitalization of C$86.89 billion, a P/E ratio of 12.27, a PEG ratio of 3.03 and a beta of 1.12. Canadian Imperial Bank of Commerce has a twelve month low of C$64.63 and a twelve month high of C$96.45.

Canadian Imperial Bank of Commerce Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, July 28th. Shareholders of record on Friday, June 27th will be issued a dividend of $0.97 per share. This represents a $3.88 annualized dividend and a yield of 4.18%. Canadian Imperial Bank of Commerce’s dividend payout ratio is currently 47.55%.

Analyst Ratings Changes

CM has been the subject of several recent research reports. UBS Group lowered their price target on Canadian Imperial Bank of Commerce from C$102.00 to C$96.00 in a report on Friday, February 14th. Barclays upped their target price on Canadian Imperial Bank of Commerce from C$90.00 to C$94.00 and gave the stock an “underperform” rating in a research report on Monday. Royal Bank of Canada dropped their target price on Canadian Imperial Bank of Commerce from C$116.00 to C$112.00 and set an “outperform” rating on the stock in a report on Monday. TD Securities reduced their price target on Canadian Imperial Bank of Commerce from C$100.00 to C$99.00 and set a “buy” rating on the stock in a research report on Friday, February 28th. Finally, National Bank Financial downgraded shares of Canadian Imperial Bank of Commerce from an “outperform” rating to a “sector perform” rating in a research report on Thursday, May 29th. One analyst has rated the stock with a sell rating, three have issued a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of C$95.92.

About Canadian Imperial Bank of Commerce

Canadian Imperial Bank of Commerce is Canada’s fifth- largest bank, operating three business segments: retail and business banking, wealth management, and capital markets. It serves approximately 11 million personal banking and business customers, primarily in Canada.