Canadian Imperial Bank of Commerce (TSE:CM) Senior Officer Hratch Dikran Panossian Sells 5,530 Shares

Canadian Imperial Bank of Commerce (TSE:CM) (NYSE:CM) Senior Officer Hratch Dikran Panossian sold 5,530 shares of the firm’s stock in a transaction dated Thursday, September 5th. The stock was sold at an average price of C$79.89, for a total value of C$441,791.70.

Canadian Imperial Bank of Commerce Stock Up 1.2 %

Shares of TSE CM opened at C$83.04 on Thursday. Canadian Imperial Bank of Commerce has a fifty-two week low of C$47.44 and a fifty-two week high of C$83.06. The business has a 50 day moving average price of C$71.90 and a two-hundred day moving average price of C$68.31. The firm has a market cap of C$78.44 billion, a PE ratio of 12.02, a price-to-earnings-growth ratio of 3.01 and a beta of 1.12.

Canadian Imperial Bank of Commerce Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, October 28th. Shareholders of record on Friday, September 27th will be paid a dividend of $0.90 per share. The ex-dividend date of this dividend is Friday, September 27th. This represents a $3.60 dividend on an annualized basis and a yield of 4.34%. Canadian Imperial Bank of Commerce’s dividend payout ratio (DPR) is presently 52.10%.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the company. Royal Bank of Canada raised their price objective on Canadian Imperial Bank of Commerce from C$69.00 to C$74.00 and gave the stock a “sector perform” rating in a report on Friday, August 30th. Cormark upgraded Canadian Imperial Bank of Commerce from a “market perform” rating to a “buy” rating and raised their price objective for the stock from C$75.00 to C$83.00 in a report on Friday, August 30th. BMO Capital Markets raised their price objective on Canadian Imperial Bank of Commerce from C$77.00 to C$81.00 and gave the stock an “outperform” rating in a report on Friday, August 30th. Desjardins increased their target price on 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. Finally, Bank of America upgraded Canadian Imperial Bank of Commerce from a “neutral” rating to a “buy” rating and increased their target price for the company from C$74.00 to C$90.00 in a research note on Friday, August 30th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of C$79.15.

Canadian Imperial Bank of Commerce Company Profile

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.