Insider Selling: Canadian Imperial Bank of Commerce (TSE:CM) Senior Officer Sells C$93,140.00 in Stock

Canadian Imperial Bank of Commerce (TSE:CM) (NYSE:CM) Senior Officer Susan Rimmer sold 1,000 shares of the stock in a transaction on Thursday, December 19th. The shares were sold at an average price of C$93.14, for a total value of C$93,140.00.

Canadian Imperial Bank of Commerce Stock Up 0.8 %

TSE CM opened at C$92.50 on Friday. Canadian Imperial Bank of Commerce has a 12-month low of C$59.53 and a 12-month high of C$95.50. The firm’s 50 day moving average is C$89.30 and its 200-day moving average is C$78.08. The company has a market capitalization of C$87.41 billion, a PE ratio of 13.39, a price-to-earnings-growth ratio of 3.03 and a beta of 1.12.

Canadian Imperial Bank of Commerce Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, January 28th. Shareholders of record on Friday, December 27th will be given a dividend of $0.97 per share. The ex-dividend date of this dividend is Friday, December 27th. This is a boost from Canadian Imperial Bank of Commerce’s previous quarterly dividend of $0.90. This represents a $3.88 annualized dividend and a yield of 4.19%. Canadian Imperial Bank of Commerce’s payout ratio is 52.10%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on CM shares. Canaccord Genuity Group boosted their target price on Canadian Imperial Bank of Commerce from C$92.00 to C$99.00 in a research report on Friday, December 6th. Desjardins upped 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 note on Friday, August 30th. UBS Group lifted their price target on shares of Canadian Imperial Bank of Commerce from C$94.00 to C$102.00 in a research report on Monday, December 16th. Barclays boosted their price target on shares of Canadian Imperial Bank of Commerce from C$71.00 to C$77.00 and gave the company an “underweight” rating in a report on Friday, August 30th. Finally, Cormark raised their price objective on Canadian Imperial Bank of Commerce from C$99.00 to C$104.00 in a research note on Friday, December 6th. One research 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. According to MarketBeat, Canadian Imperial Bank of Commerce currently has a consensus rating of “Moderate Buy” and a consensus price target of C$92.67.

About Canadian Imperial Bank of Commerce

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.