Canadian Imperial Bank of Commerce (TSE:CM) Insider Sells C$976,200.00 in 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 Down 0.6%

TSE:CM opened at C$161.25 on Friday. The firm’s fifty day simple moving average is C$154.12 and its 200 day simple moving average is C$139.18. The stock has a market cap 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 has a twelve month low of C$95.01 and a twelve month high of C$163.59.

Canadian Imperial Bank of Commerce (TSE:CM) (NYSE:CM) last issued its quarterly earnings data on Thursday, May 28th. The company reported C$2.54 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 business had revenue of C$8.01 billion during the quarter. On average, analysts expect that Canadian Imperial Bank of Commerce will post 6.4127341 EPS for the current fiscal year.

Canadian Imperial Bank of Commerce Dividend Announcement

The business also recently declared 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. The ex-dividend date is Monday, June 29th. This represents a $4.28 annualized dividend and a dividend yield of 2.7%. Canadian Imperial Bank of Commerce’s payout ratio is currently 40.48%.

Analyst Ratings Changes

Several analysts have weighed in on the company. Desjardins lifted their price objective on Canadian Imperial Bank of Commerce from C$152.00 to C$160.00 and gave the company a “buy” rating in a research report on Tuesday, May 5th. Canaccord Genuity Group increased 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 research report on Friday, June 5th. TD lowered their target price on Canadian Imperial Bank of Commerce from C$166.00 to C$163.00 and set a “buy” rating for the company in a research note on Friday, May 29th. Scotiabank lifted 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 research report on Tuesday, June 16th. Finally, Royal Bank Of Canada reduced their price target 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. Six analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target 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.