Canadian Imperial Bank of Commerce (TSE:CM - Get Free Report) (NYSE:CM) Senior Officer Frank Guse sold 5,360 shares of the business's stock in a transaction on Monday, December 9th. The stock was sold at an average price of C$93.28, for a total value of C$499,985.62. Following the transaction, the insider now owns 440 shares in the company, valued at approximately C$41,043.60. This trade represents a 92.41 % decrease in their ownership of the stock.
Canadian Imperial Bank of Commerce Price Performance
Shares of TSE:CM opened at C$94.40 on Friday. The business's 50 day moving average price is C$87.99 and its 200-day moving average price is C$76.98. The firm has a market capitalization of C$89.21 billion, a price-to-earnings ratio of 13.66, a price-to-earnings-growth ratio of 3.03 and a beta of 1.12. Canadian Imperial Bank of Commerce has a 1 year low of C$58.26 and a 1 year high of C$95.50.
Canadian Imperial Bank of Commerce Increases Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 28th. Investors of record on Friday, December 27th will be issued a $0.97 dividend. This represents a $3.88 annualized dividend and a yield of 4.11%. This is a boost from Canadian Imperial Bank of Commerce's previous quarterly dividend of $0.90. Canadian Imperial Bank of Commerce's payout ratio is presently 52.10%.
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A number of brokerages have recently weighed in on CM. Bank of America upgraded Canadian Imperial Bank of Commerce from a "neutral" rating to a "buy" rating and boosted their price target for the stock from C$74.00 to C$90.00 in a research note on Friday, August 30th. National Bankshares upped their target price on Canadian Imperial Bank of Commerce from C$86.00 to C$94.00 in a research report on Wednesday, November 20th. BMO Capital Markets upped their price objective on shares of Canadian Imperial Bank of Commerce from C$81.00 to C$99.00 in a report on Monday, November 18th. Desjardins boosted their target price on shares of Canadian Imperial Bank of Commerce from C$77.00 to C$83.00 and gave the company a "buy" rating in a research report on Friday, August 30th. Finally, Barclays increased their price target on Canadian Imperial Bank of Commerce from C$71.00 to C$77.00 and gave the stock an "underweight" rating in a research report on Friday, August 30th. One analyst has rated the stock with a sell rating, three have given a hold rating and eight have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of C$90.00.
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Canadian Imperial Bank of Commerce Company Profile
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Canadian Imperial Bank of Commerce, a diversified financial institution, provides various financial products and services to personal, business, public sector, and institutional clients in Canada, the United States, and internationally. The company operates through Canadian Personal and Business Banking; Canadian Commercial Banking and Wealth Management; U.S.
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