Insider Selling: Canadian Imperial Bank of Commerce (TSE:CM) Senior Officer Sells C$3,005,657.73 in Stock

Canadian Imperial Bank of Commerce (TSE:CM) (NYSE:CM) Senior Officer John Hountalas sold 32,018 shares of the company’s stock in a transaction dated Thursday, June 5th. The stock was sold at an average price of C$93.87, for a total transaction of C$3,005,657.73.

Canadian Imperial Bank of Commerce Price Performance

Canadian Imperial Bank of Commerce stock opened at C$94.24 on Monday. The firm has a 50 day simple moving average of C$87.09 and a 200-day simple moving average of C$87.93. Canadian Imperial Bank of Commerce has a 1-year low of C$64.63 and a 1-year high of C$96.45. The stock has a market cap of C$88.17 billion, a price-to-earnings ratio of 12.45, a price-to-earnings-growth ratio of 3.03 and a beta of 1.12.

Canadian Imperial Bank of Commerce Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, July 28th. Stockholders of record on Friday, June 27th will be paid a $0.97 dividend. This represents a $3.88 annualized dividend and a dividend yield of 4.12%. Canadian Imperial Bank of Commerce’s dividend payout ratio (DPR) is 47.55%.

Analyst Upgrades and Downgrades

CM has been the subject of several research analyst reports. Royal Bank of Canada set a C$108.00 price target on shares of Canadian Imperial Bank of Commerce and gave the stock an “outperform” rating in a research report on Monday, March 17th. Scotiabank upgraded shares of Canadian Imperial Bank of Commerce to a “strong-buy” rating in a research report on Thursday, May 15th. National Bank Financial downgraded shares of Canadian Imperial Bank of Commerce from an “outperform” rating to a “sector perform” rating in a report on Thursday, May 29th. Canaccord Genuity Group cut their price objective on shares of Canadian Imperial Bank of Commerce from C$93.00 to C$92.00 in a report on Monday, May 12th. Finally, TD Securities cut their price objective on shares of Canadian Imperial Bank of Commerce from C$100.00 to C$99.00 and set a “buy” rating for the company in a report on Friday, February 28th. One investment analyst has rated the stock with a sell rating, three have given a hold rating, seven have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of C$94.31.

Canadian Imperial Bank of Commerce Company Profile

Canadian Imperial Bank of Commerce is Canada’s fifth- largest bank, operating three business segments: retail and business banking, wealth management, and capital markets. It serves approximately 11 million personal banking and business customers, primarily in Canada.