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 Canadian Imperial Bank of Commerce 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 Stock Performance

Canadian Imperial Bank of Commerce stock opened at C$94.20 on Friday. The business’s fifty day moving average is C$88.20 and its two-hundred day moving average is C$77.16. The firm has a market cap of C$89.02 billion, a P/E ratio of 13.63, a P/E/G ratio of 3.03 and a beta of 1.12. Canadian Imperial Bank of Commerce has a 52 week low of C$59.53 and a 52 week high of C$95.50.

Canadian Imperial Bank of Commerce Increases Dividend

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

Analyst Upgrades and Downgrades

Several research analysts recently commented on CM shares. Bank of America raised Canadian Imperial Bank of Commerce from a “neutral” rating to a “buy” rating and raised their target price for the stock from C$74.00 to C$90.00 in a research report on Friday, August 30th. TD Securities raised their price objective on shares of Canadian Imperial Bank of Commerce from C$91.00 to C$98.00 in a report on Friday, November 15th. Barclays upped their target price on shares of Canadian Imperial Bank of Commerce from C$71.00 to C$77.00 and gave the company an “underweight” rating in a research note on Friday, August 30th. Royal Bank of Canada raised their price target on shares of Canadian Imperial Bank of Commerce from C$69.00 to C$74.00 and gave the stock a “sector perform” rating in a research note on Friday, August 30th. Finally, Desjardins upped their price objective on Canadian Imperial Bank of Commerce from C$77.00 to C$83.00 and gave the company a “buy” rating in a research note on Friday, August 30th. One 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. Based on data from MarketBeat.com, Canadian Imperial Bank of Commerce has an average 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.