Harry Kenneth Culham Sells 800 Shares of Canadian Imperial Bank of Commerce (TSE:CM) Stock

Canadian Imperial Bank of Commerce (TSE:CM) (NYSE:CM) Director Harry Kenneth Culham sold 800 shares of the stock in a transaction dated Monday, September 30th. The shares were sold at an average price of C$83.20, for a total value of C$66,560.00.

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

• On Wednesday, September 25th, Harry Kenneth Culham sold 50,000 shares of Canadian Imperial Bank of Commerce stock. The shares were sold at an average price of C$83.42, for a total value of C$4,170,750.00.
• 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 transaction 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 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 Up 0.5 %

Canadian Imperial Bank of Commerce stock opened at C$81.74 on Friday. The firm’s fifty day moving average price is C$76.72 and its two-hundred day moving average price is C$70.22. The firm has a market capitalization of C$77.24 billion, a price-to-earnings ratio of 11.83, a price-to-earnings-growth ratio of 3.01 and a beta of 1.12. Canadian Imperial Bank of Commerce has a 1-year low of C$47.44 and a 1-year high of C$84.46.

Canadian Imperial Bank of Commerce (TSE:CM) (NYSE:CM) last announced its quarterly earnings results on Thursday, August 29th. The company reported C$1.93 earnings per share for the quarter, beating the consensus estimate of C$1.75 by C$0.18. The business had revenue of C$6.60 billion for 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%. On average, research analysts forecast that Canadian Imperial Bank of Commerce will post 7.5827138 EPS for the current year.

Canadian Imperial Bank of Commerce Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, October 28th. Investors of record on Monday, October 28th will be issued a dividend of $0.90 per share. The ex-dividend date of this dividend is Friday, September 27th. This represents a $3.60 annualized dividend and a yield of 4.40%. Canadian Imperial Bank of Commerce’s dividend payout ratio (DPR) is currently 52.10%.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the stock. BMO Capital Markets boosted their target price on shares of Canadian Imperial Bank of Commerce from C$77.00 to C$81.00 and gave the company an “outperform” rating in a report on Friday, August 30th. TD Securities dropped their price objective on Canadian Imperial Bank of Commerce from C$93.00 to C$91.00 and set a “buy” rating on the stock in a research note on Friday, August 30th. Jefferies Financial Group decreased their target price on 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. Barclays boosted their price target on 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. Finally, Bank of America raised shares of Canadian Imperial Bank of Commerce from a “neutral” rating to a “buy” rating and raised their price objective for the stock from C$74.00 to C$90.00 in a research report on Friday, August 30th. One analyst has rated the stock with a sell rating, three have issued a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat, the company currently has a consensus 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.