Robert Sedran Sells 20,652 Shares of Canadian Imperial Bank of Commerce (TSE:CM) Stock

Canadian Imperial Bank of Commerce (TSE:CM) (NYSE:CM) Senior Officer Robert Sedran sold 20,652 shares of Canadian Imperial Bank of Commerce stock in a transaction dated Thursday, December 12th. The shares were sold at an average price of C$94.97, for a total value of C$1,961,227.51.

Canadian Imperial Bank of Commerce Price Performance

CM stock opened at C$94.20 on Friday. Canadian Imperial Bank of Commerce has a 1 year low of C$59.53 and a 1 year high of C$95.50. The firm has a market capitalization of C$89.02 billion, a PE ratio of 13.63, a price-to-earnings-growth ratio of 3.03 and a beta of 1.12. The business has a 50 day simple moving average of C$88.20 and a 200-day simple moving average of C$77.16.

Canadian Imperial Bank of Commerce Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, January 28th. Shareholders of record on Tuesday, January 28th will be paid a $0.97 dividend. The ex-dividend date of this dividend is Friday, December 27th. This is an increase 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 4.12%. Canadian Imperial Bank of Commerce’s dividend payout ratio (DPR) is 52.10%.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on CM. BMO Capital Markets boosted their price objective on Canadian Imperial Bank of Commerce from C$81.00 to C$99.00 in a research report on Monday, November 18th. Scotiabank upped their price objective on shares of Canadian Imperial Bank of Commerce from C$108.00 to C$114.00 in a research report on Friday, December 6th. National Bankshares boosted their target price on shares of Canadian Imperial Bank of Commerce from C$86.00 to C$94.00 in a research note on Wednesday, November 20th. Cormark raised their price target on shares of Canadian Imperial Bank of Commerce from C$99.00 to C$104.00 in a research note on Friday, December 6th. Finally, Bank of America upgraded Canadian Imperial Bank of Commerce from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from C$74.00 to C$90.00 in a report on Friday, August 30th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat, Canadian Imperial Bank of Commerce currently has a consensus rating of “Moderate Buy” and an average 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.