Insider Selling: Canadian Imperial Bank of Commerce (TSE:CM) Insider Sells C$193,104.00 in Stock

Canadian Imperial Bank of Commerce (TSE:CM) (NYSE:CM) insider Amy Florence South sold 1,200 shares of the firm’s stock in a transaction dated Monday, June 22nd. The shares were sold at an average price of C$160.92, for a total value of C$193,104.00.

Canadian Imperial Bank of Commerce Price Performance

Shares of TSE:CM opened at C$162.17 on Thursday. The firm has a market capitalization of C$148.03 billion, a PE ratio of 16.09, a price-to-earnings-growth ratio of 3.03 and a beta of 1.42. The firm’s 50-day moving average is C$153.52 and its two-hundred day moving average is C$138.77. Canadian Imperial Bank of Commerce has a 1 year low of C$95.01 and a 1 year high of C$163.59.

Canadian Imperial Bank of Commerce (TSE:CM) (NYSE:CM) last issued 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 business had revenue of C$8.01 billion for the quarter. Analysts expect that Canadian Imperial Bank of Commerce will post 6.4127341 EPS for the current fiscal year.

Canadian Imperial Bank of Commerce Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, April 28th. Shareholders of record on Tuesday, April 28th were issued a dividend of $1.07 per share. The ex-dividend date was Friday, March 27th. This represents a $4.28 dividend on an annualized basis and a yield of 2.6%. Canadian Imperial Bank of Commerce’s dividend payout ratio is 40.48%.

Wall Street Analyst Weigh In

Several equities analysts have commented on the stock. Jefferies Financial Group boosted their price target on shares of Canadian Imperial Bank of Commerce from C$136.00 to C$143.00 in a research note on Wednesday, May 20th. BMO Capital Markets increased their price objective 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. Barclays boosted their target price on Canadian Imperial Bank of Commerce from C$137.00 to C$141.00 in a research note on Monday, March 2nd. Canaccord Genuity Group upped their price target 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. Finally, TD reduced their price target on Canadian Imperial Bank of Commerce from C$166.00 to C$163.00 and set a “buy” rating on the stock in a research report on Friday, May 29th. Six research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price 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.