Canadian Imperial Bank of Commerce (TSE:CM) Director Sells C$14,132,865.00 in Stock

Canadian Imperial Bank of Commerce (TSE:CM) (NYSE:CM) Director Victor George Dodig sold 150,000 shares of the business’s stock in a transaction that occurred on Tuesday, December 10th. The stock was sold at an average price of C$94.22, for a total value of C$14,132,865.00.

Canadian Imperial Bank of Commerce Trading Down 0.2 %

Shares of CM stock opened at C$94.20 on Friday. The stock has a market cap of C$89.02 billion, a P/E ratio of 13.63, a price-to-earnings-growth ratio of 3.03 and a beta of 1.12. Canadian Imperial Bank of Commerce has a 1 year low of C$59.53 and a 1 year high of C$95.50. The stock has a 50 day simple moving average of C$88.20 and a 200 day simple moving average of C$77.16.

Canadian Imperial Bank of Commerce Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, January 28th. Stockholders of record on Tuesday, January 28th will be given a dividend of $0.97 per share. This represents a $3.88 dividend on an annualized basis and a dividend yield of 4.12%. This is an increase from Canadian Imperial Bank of Commerce’s previous quarterly dividend of $0.90. The ex-dividend date of this dividend is Friday, December 27th. Canadian Imperial Bank of Commerce’s dividend payout ratio is presently 52.10%.

Analyst Ratings Changes

A number of research analysts recently weighed in on the company. TD Securities boosted their target price on Canadian Imperial Bank of Commerce from C$91.00 to C$98.00 in a report on Friday, November 15th. 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 report on Friday, December 6th. BMO Capital Markets raised their target price on shares of Canadian Imperial Bank of Commerce from C$81.00 to C$99.00 in a research note on Monday, November 18th. National Bankshares upped their price target on shares of Canadian Imperial Bank of Commerce from C$86.00 to C$94.00 in a research note on Wednesday, November 20th. Finally, Scotiabank raised their price objective on shares of Canadian Imperial Bank of Commerce from C$108.00 to C$114.00 in a research report on Friday, December 6th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and eight have given a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of C$90.00.

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.