Insider Selling: Canadian Imperial Bank of Commerce (TSE:CM) Senior Officer Sells 1,000 Shares of Stock

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

Canadian Imperial Bank of Commerce Stock Performance

CM traded down C$0.75 during trading on Thursday, hitting C$91.79. The stock had a trading volume of 6,069,882 shares, compared to its average volume of 3,743,961. The firm has a market capitalization of C$86.74 billion, a P/E ratio of 13.28, a PEG ratio of 3.03 and a beta of 1.12. Canadian Imperial Bank of Commerce has a twelve month low of C$59.53 and a twelve month high of C$95.50. The company's 50-day moving average price is C$89.09 and its 200 day moving average price is C$77.90.

Canadian Imperial Bank of Commerce Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, January 28th. Investors of record on Friday, December 27th will be issued a dividend of $0.97 per share. 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 4.23%. The ex-dividend date of this dividend is Friday, December 27th. Canadian Imperial Bank of Commerce's dividend payout ratio is currently 52.10%.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on the stock. Canaccord Genuity Group upped their price objective on shares of Canadian Imperial Bank of Commerce from C$92.00 to C$99.00 in a research note on Friday, December 6th. Scotiabank upped their target price on Canadian Imperial Bank of Commerce from C$108.00 to C$114.00 in a research report on Friday, December 6th. Royal Bank of Canada raised their price target on Canadian Imperial Bank of Commerce from C$69.00 to C$74.00 and gave the stock a "sector perform" rating in a research note on Friday, August 30th. Bank of America upgraded Canadian Imperial Bank of Commerce from a "neutral" rating to a "buy" rating and boosted their price objective for the company from C$74.00 to C$90.00 in a research note on Friday, August 30th. Finally, UBS Group increased their price objective on Canadian Imperial Bank of Commerce from C$94.00 to C$102.00 in a report on Monday. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of C$92.67.

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.