Insider Selling: Canadian Imperial Bank of Commerce (TSE:CM) Senior Officer Sells 1,027 Shares of Stock

Canadian Imperial Bank of Commerce (TSE:CM - Get Free Report) NYSE: CM Senior Officer Sandy Sharman sold 1,027 shares of the stock in a transaction that occurred on Friday, March 21st. The stock was sold at an average price of C$81.27, for a total transaction of C$83,464.29.

Canadian Imperial Bank of Commerce Stock Performance

TSE CM traded down C$1.62 on Friday, reaching C$80.40. 11,790,055 shares of the stock traded hands, compared to its average volume of 4,052,651. Canadian Imperial Bank of Commerce has a 12 month low of C$64.02 and a 12 month high of C$95.50. The company has a market cap of C$75.22 billion, a price-to-earnings ratio of 10.62, a PEG ratio of 3.03 and a beta of 1.12. The company has a fifty day moving average price of C$86.10 and a 200-day moving average price of C$87.20.

Canadian Imperial Bank of Commerce Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, April 28th. Stockholders of record on Friday, March 28th will be issued a $0.97 dividend. The ex-dividend date is Friday, March 28th. This represents a $3.88 dividend on an annualized basis and a dividend yield of 4.83%. Canadian Imperial Bank of Commerce's dividend payout ratio is presently 47.55%.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on CM shares. UBS Group cut their price objective on Canadian Imperial Bank of Commerce from C$102.00 to C$96.00 in a research report on Friday, February 14th. Canaccord Genuity Group raised their price target on Canadian Imperial Bank of Commerce from C$92.00 to C$99.00 in a report on Friday, December 6th. TD Securities decreased their price objective on Canadian Imperial Bank of Commerce from C$100.00 to C$99.00 and set a "buy" rating on the stock in a report on Friday, February 28th. Cormark raised their target price on shares of Canadian Imperial Bank of Commerce from C$99.00 to C$104.00 in a report on Friday, December 6th. Finally, Royal Bank of Canada set a C$108.00 price target on shares of Canadian Imperial Bank of Commerce and gave the company an "outperform" rating in a research note on Monday, March 17th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of C$93.50.

Canadian Imperial Bank of Commerce Company Profile

Canadian Imperial Bank of Commerce is Canada's fifth- largest bank, operating three business segments: retail and business banking, wealth management, and capital markets. It serves approximately 11 million personal banking and business customers, primarily in Canada.