Canadian Imperial Bank of Commerce (TSE:CM) Director Victor George Dodig Sells 150,000 Shares of 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 shares were 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 1.0 %

Shares of CM opened at C$94.40 on Friday. Canadian Imperial Bank of Commerce has a 12-month low of C$58.26 and a 12-month high of C$95.50. The company has a market capitalization of C$89.21 billion, a PE ratio of 13.66, a price-to-earnings-growth ratio of 3.03 and a beta of 1.12. The business’s 50 day moving average is C$87.99 and its 200 day moving average is C$76.98.

Canadian Imperial Bank of Commerce Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, January 28th. Investors of record on Friday, December 27th will be paid a dividend of $0.97 per share. This is a boost from Canadian Imperial Bank of Commerce’s previous quarterly dividend of $0.90. This represents a $3.88 dividend on an annualized basis and a dividend yield of 4.11%. Canadian Imperial Bank of Commerce’s payout ratio is currently 52.10%.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on CM. National Bankshares boosted their price objective on Canadian Imperial Bank of Commerce from C$86.00 to C$94.00 in a report on Wednesday, November 20th. Royal Bank of Canada increased their price objective 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. Desjardins upped their target price on Canadian Imperial Bank of Commerce from C$77.00 to C$83.00 and gave the company a “buy” rating in a research report on Friday, August 30th. 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 report on Monday, November 18th. Finally, Canaccord Genuity Group increased their target price on Canadian Imperial Bank of Commerce from C$92.00 to C$99.00 in a research report on Friday, December 6th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and eight have assigned a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of C$90.00.

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.