Harry Kenneth Culham Sells 50,000 Shares of Canadian Imperial Bank of Commerce (TSE:CM) Stock

Canadian Imperial Bank of Commerce (TSE:CM) (NYSE:CM) Director Harry Kenneth Culham sold 50,000 shares of the business’s stock in a transaction dated Wednesday, September 25th. The stock was sold at an average price of C$83.42, for a total transaction of C$4,170,750.00.

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

• On Friday, September 13th, Harry Kenneth Culham sold 47,430 shares of Canadian Imperial Bank of Commerce stock. The stock was sold at an average price of C$83.41, for a total value of C$3,956,136.30.
• On Monday, September 9th, Harry Kenneth Culham sold 50,000 shares of Canadian Imperial Bank of Commerce stock. The stock was sold at an average price of C$81.87, for a total value of C$4,093,500.00.

Canadian Imperial Bank of Commerce Price Performance

Shares of TSE CM opened at C$82.78 on Monday. Canadian Imperial Bank of Commerce has a 1-year low of C$47.44 and a 1-year high of C$84.46. The business has a fifty day moving average price of C$75.47 and a 200 day moving average price of C$69.69. The stock has a market capitalization of C$78.22 billion, a P/E ratio of 12.00, a price-to-earnings-growth ratio of 3.01 and a beta of 1.12.

Canadian Imperial Bank of Commerce (TSE:CM) (NYSE:CM) last released its quarterly earnings results on Thursday, August 29th. The company reported C$1.93 EPS for the quarter, beating the consensus estimate of C$1.75 by C$0.18. Canadian Imperial Bank of Commerce had a net margin of 29.56% and a return on equity of 12.37%. The business had revenue of C$6.60 billion during the quarter, compared to analyst estimates of C$6.31 billion. As a group, equities research analysts anticipate 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 company also recently announced a quarterly dividend, which will be paid on Monday, October 28th. Shareholders of record on Monday, October 28th will be paid a $0.90 dividend. The ex-dividend date of this dividend is Friday, September 27th. This represents a $3.60 annualized dividend and a yield of 4.35%. Canadian Imperial Bank of Commerce’s dividend payout ratio (DPR) is 52.10%.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the company. Barclays lifted 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 report on Friday, August 30th. BMO Capital Markets lifted their price objective on shares of Canadian Imperial Bank of Commerce from C$77.00 to C$81.00 and gave the stock an “outperform” rating in a research note on Friday, August 30th. Canaccord Genuity Group increased their target price on shares of Canadian Imperial Bank of Commerce from C$74.00 to C$75.00 in a research note on Tuesday, August 13th. Bank of America raised shares of Canadian Imperial Bank of Commerce from a “neutral” rating to a “buy” rating and lifted their price target for the stock from C$74.00 to C$90.00 in a research note on Friday, August 30th. Finally, Desjardins increased their price objective on shares of Canadian Imperial Bank of Commerce from C$77.00 to C$83.00 and gave the stock a “buy” rating in a research report on Friday, August 30th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and eight have given a buy rating to the company. According to MarketBeat.com, Canadian Imperial Bank of Commerce presently has an average rating of “Moderate Buy” and an average 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.