Sandy Sharman Sells 2,275 Shares of Canadian Imperial Bank of Commerce (TSE:CM) Stock

Canadian Imperial Bank of Commerce (TSE:CM) (NYSE:CM) Senior Officer Sandy Sharman sold 2,275 shares of Canadian Imperial Bank of Commerce stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of C$83.04, for a total transaction of C$188,916.00.

Canadian Imperial Bank of Commerce Stock Up 0.3 %

Shares of CM stock opened at C$83.86 on Friday. The firm has a market cap of C$79.25 billion, a price-to-earnings ratio of 12.14, a PEG ratio of 3.01 and a beta of 1.12. Canadian Imperial Bank of Commerce has a 12 month low of C$47.44 and a 12 month high of C$84.46. The stock has a 50-day moving average price of C$75.16 and a 200 day moving average price of C$69.59.

Canadian Imperial Bank of Commerce (TSE:CM) (NYSE:CM) last issued its quarterly earnings results on Thursday, August 29th. The company reported C$1.93 EPS for the quarter, topping the consensus estimate of C$1.75 by C$0.18. The company had revenue of C$6.60 billion during the quarter, compared to analysts’ expectations of C$6.31 billion. Canadian Imperial Bank of Commerce had a net margin of 29.56% and a return on equity of 12.37%. Sell-side analysts predict that Canadian Imperial Bank of Commerce will post 7.5778986 earnings per share for the current fiscal year.

Canadian Imperial Bank of Commerce Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, October 28th. Shareholders of record on Monday, October 28th will be given a dividend of $0.90 per share. This represents a $3.60 annualized dividend and a dividend yield of 4.29%. The ex-dividend date of this dividend is Friday, September 27th. Canadian Imperial Bank of Commerce’s payout ratio is 52.10%.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on CM shares. TD Securities dropped their price objective on shares of Canadian Imperial Bank of Commerce from C$93.00 to C$91.00 and set a “buy” rating for the company in a report on Friday, August 30th. Jefferies Financial Group dropped their price target on Canadian Imperial Bank of Commerce from C$79.00 to C$78.00 and set a “buy” rating for the company in a report on Monday, August 12th. National Bankshares lifted their price objective on Canadian Imperial Bank of Commerce from C$78.00 to C$86.00 and gave the company an “outperform” rating in a research report on Friday, August 30th. Cormark upgraded Canadian Imperial Bank of Commerce from a “market perform” rating to a “buy” rating and increased their target price for the stock from C$75.00 to C$83.00 in a report on Friday, August 30th. Finally, Royal Bank of Canada lifted their price target on Canadian Imperial Bank of Commerce from C$69.00 to C$74.00 and gave the company a “sector perform” rating in a report on Friday, August 30th. 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 company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of C$79.15.

Canadian Imperial Bank of Commerce Company Profile

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.