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 company’s stock in a transaction 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 Up 0.8 %

TSE:CM opened at C$92.50 on Friday. The firm has a market cap 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. The company’s 50-day moving average price is C$89.30 and its two-hundred day moving average price is C$78.08. Canadian Imperial Bank of Commerce has a 12 month low of C$59.53 and a 12 month high of C$95.50.

Canadian Imperial Bank of Commerce Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, January 28th. Investors 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 positive change from Canadian Imperial Bank of Commerce’s previous quarterly dividend of $0.90. This represents a $3.88 dividend on an annualized basis and a yield of 4.19%. Canadian Imperial Bank of Commerce’s dividend payout ratio is 52.10%.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the stock. Desjardins upped their price objective 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 report on Friday, August 30th. National Bankshares boosted their price objective on Canadian Imperial Bank of Commerce from C$86.00 to C$94.00 in a research report on Wednesday, November 20th. Barclays raised their target price on Canadian Imperial Bank of Commerce from C$71.00 to C$77.00 and gave the stock an “underweight” rating in a research report on Friday, August 30th. Canaccord Genuity Group increased 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. Finally, Scotiabank raised their price objective on shares of Canadian Imperial Bank of Commerce from C$108.00 to C$114.00 in a report on Friday, December 6th. One research analyst has rated the stock with a sell rating, three have given a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price 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.