Harry Kenneth Culham Sells 47,430 Shares of Canadian Imperial Bank of Commerce (TSE:CM) Stock

Canadian Imperial Bank of Commerce (TSE:CM) (NYSE:CM) Director Harry Kenneth Culham sold 47,430 shares of the firm’s stock in a transaction dated Friday, September 13th. The shares were sold at an average price of C$83.41, for a total transaction of C$3,956,136.30.

Harry Kenneth Culham also recently made the following trade(s):

• On Monday, September 9th, Harry Kenneth Culham sold 50,000 shares of Canadian Imperial Bank of Commerce stock. The shares were sold at an average price of C$81.87, for a total transaction of C$4,093,500.00.

Canadian Imperial Bank of Commerce Trading Down 1.0 %

CM opened at C$82.94 on Thursday. Canadian Imperial Bank of Commerce has a 12-month low of C$47.44 and a 12-month high of C$84.07. The company has a market cap of C$78.34 billion, a price-to-earnings ratio of 12.00, a PEG ratio of 3.01 and a beta of 1.12. The company’s 50 day moving average is C$73.61 and its 200 day moving average is C$69.00.

Canadian Imperial Bank of Commerce Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, October 28th. Shareholders of record on Monday, October 28th will be issued a dividend of $0.90 per share. This represents a $3.60 annualized dividend and a yield of 4.34%. The ex-dividend date is Friday, September 27th. Canadian Imperial Bank of Commerce’s dividend payout ratio is currently 52.10%.

Analysts Set New Price Targets

CM has been the subject of a number of analyst reports. Royal Bank of Canada raised their price objective on shares of Canadian Imperial Bank of Commerce from C$69.00 to C$74.00 and gave the company a “sector perform” rating in a research note on Friday, August 30th. Canaccord Genuity Group lifted their price target on shares of Canadian Imperial Bank of Commerce from C$74.00 to C$75.00 in a research note on Tuesday, August 13th. National Bankshares lifted their price target on shares of Canadian Imperial Bank of Commerce from C$78.00 to C$86.00 and gave the stock an “outperform” rating in a research note on Friday, August 30th. Cormark upgraded shares of Canadian Imperial Bank of Commerce from a “market perform” rating to a “buy” rating and lifted their price target for the stock from C$75.00 to C$83.00 in a research note on Friday, August 30th. Finally, Jefferies Financial Group reduced their price target on shares of Canadian Imperial Bank of Commerce from C$79.00 to C$78.00 and set a “buy” rating for the company in a research note on Monday, August 12th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and eight have issued a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of C$79.15.

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.