Sandy Sharman Sells 1,027 Shares of Canadian Imperial Bank of Commerce (TSE:CM) Stock

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

Canadian Imperial Bank of Commerce Stock Down 1.2 %

CM stock opened at C$82.02 on Friday. The company’s 50-day moving average price is C$86.30 and its two-hundred day moving average price is C$87.19. The firm has a market cap of C$76.74 billion, a P/E ratio of 10.83, a P/E/G ratio of 3.03 and a beta of 1.12. Canadian Imperial Bank of Commerce has a 12 month low of C$64.02 and a 12 month high of C$95.50.

Canadian Imperial Bank of Commerce Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, April 28th. Shareholders of record on Friday, March 28th will be given a dividend of $0.97 per share. The ex-dividend date of this dividend is Friday, March 28th. This represents a $3.88 annualized dividend and a yield of 4.73%. Canadian Imperial Bank of Commerce’s dividend payout ratio is currently 47.55%.

Wall Street Analyst Weigh In

A number of research analysts recently commented on the stock. UBS Group decreased their price target on shares of Canadian Imperial Bank of Commerce from C$102.00 to C$96.00 in a research note on Friday, February 14th. Cormark upped their target price on Canadian Imperial Bank of Commerce from C$99.00 to C$104.00 in a research report on Friday, December 6th. Scotiabank lowered their target price on Canadian Imperial Bank of Commerce from C$114.00 to C$95.00 and set an “outperform” rating on the stock in a research note on Thursday, February 20th. TD Securities reduced their price target on Canadian Imperial Bank of Commerce from C$100.00 to C$99.00 and set a “buy” rating for the company in a research note on Friday, February 28th. Finally, Canaccord Genuity Group increased their price objective on Canadian Imperial Bank of Commerce from C$92.00 to C$99.00 in a research report on Friday, December 6th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of C$93.50.

About Canadian Imperial Bank of Commerce

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.