Insider Selling: Canadian Imperial Bank of Commerce (TSE:CM) Senior Officer Sells C$1,605,285.00 in Stock

Canadian Imperial Bank of Commerce (TSE:CMGet Free Report) (NYSE:CM) Senior Officer Christina Charlotte Kramer sold 23,782 shares of the company’s stock in a transaction that occurred on Friday, June 7th. The stock was sold at an average price of C$67.50, for a total transaction of C$1,605,285.00.

Canadian Imperial Bank of Commerce Trading Up 1.1 %

Shares of Canadian Imperial Bank of Commerce stock opened at C$66.83 on Thursday. Canadian Imperial Bank of Commerce has a 12-month low of C$47.44 and a 12-month high of C$69.54. The firm has a market capitalization of C$62.64 billion, a price-to-earnings ratio of 10.25, a PEG ratio of 3.01 and a beta of 1.11. The firm’s 50 day simple moving average is C$66.41 and its two-hundred day simple moving average is C$64.03.

Canadian Imperial Bank of Commerce Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, July 29th. Shareholders of record on Friday, June 28th will be paid a dividend of $0.90 per share. The ex-dividend date is Friday, June 28th. This represents a $3.60 dividend on an annualized basis and a yield of 5.39%. Canadian Imperial Bank of Commerce’s payout ratio is 55.21%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the stock. TD Securities raised shares of Canadian Imperial Bank of Commerce from a “hold” rating to a “buy” rating and upped their price target for the stock from C$65.00 to C$70.00 in a research report on Friday, March 1st. Jefferies Financial Group upped their price target on shares of Canadian Imperial Bank of Commerce from C$78.00 to C$79.00 and gave the stock a “buy” rating in a research report on Thursday, June 6th. Royal Bank of Canada upped their price target on shares of Canadian Imperial Bank of Commerce from C$68.00 to C$69.00 and gave the stock a “sector perform” rating in a research report on Friday, May 31st. National Bankshares increased their target price on shares of Canadian Imperial Bank of Commerce from C$76.00 to C$78.00 and gave the company an “outperform” rating in a research report on Friday, May 31st. Finally, BMO Capital Markets increased their target price on shares of Canadian Imperial Bank of Commerce from C$74.00 to C$77.00 in a research report on Friday, May 31st. One analyst has rated the stock with a sell rating, six have issued a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of C$69.21.

Get Our Latest Stock Analysis on Canadian Imperial Bank of Commerce

About Canadian Imperial Bank of Commerce

(Get Free Report)

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.

Recommended Stories

Receive News & Ratings for Canadian Imperial Bank of Commerce Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Canadian Imperial Bank of Commerce and related companies with MarketBeat.com's FREE daily email newsletter.