Frank Guse Sells 5,000 Shares of Canadian Imperial Bank of Commerce (TSE:CM) Stock

Canadian Imperial Bank of Commerce (TSE:CM) (NYSE:CM) insider Frank Guse sold 5,000 shares of the company’s stock in a transaction on Wednesday, December 24th. The stock was sold at an average price of C$127.16, for a total transaction of C$635,800.00. Following the transaction, the insider owned 1,359 shares of the company’s stock, valued at approximately C$172,810.44. The trade was a 78.63% decrease in their position.

Canadian Imperial Bank of Commerce Stock Down 0.3%

Shares of TSE:CM opened at C$127.04 on Monday. The company has a market cap of C$117.72 billion, a price-to-earnings ratio of 14.82, a PEG ratio of 3.03 and a beta of 1.31. The firm’s 50-day simple moving average is C$124.89 and its 200-day simple moving average is C$114.15. Canadian Imperial Bank of Commerce has a fifty-two week low of C$76.17 and a fifty-two week high of C$129.25.

Canadian Imperial Bank of Commerce (TSE:CM) (NYSE:CM) last posted its quarterly earnings results on Thursday, December 4th. The company reported C$2.21 earnings per share (EPS) for the quarter. The firm had revenue of C$7.58 billion during the quarter. Canadian Imperial Bank of Commerce had a net margin of 27.87% and a return on equity of 12.61%. On average, research analysts forecast that Canadian Imperial Bank of Commerce will post 6.4127341 EPS for the current year.

Canadian Imperial Bank of Commerce Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 28th. Stockholders of record on Wednesday, January 28th will be paid a dividend of $1.07 per share. This is a positive change from Canadian Imperial Bank of Commerce’s previous quarterly dividend of $0.97. The ex-dividend date of this dividend is Monday, December 29th. This represents a $4.28 dividend on an annualized basis and a dividend yield of 3.4%. Canadian Imperial Bank of Commerce’s dividend payout ratio (DPR) is currently 45.27%.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on CM shares. Royal Bank Of Canada increased their price objective on Canadian Imperial Bank of Commerce from C$131.00 to C$134.00 and gave the stock an “outperform” rating in a research report on Monday, January 5th. BMO Capital Markets upped their price target on shares of Canadian Imperial Bank of Commerce from C$130.00 to C$135.00 in a research note on Wednesday, December 17th. Desjardins raised their price objective on shares of Canadian Imperial Bank of Commerce from C$132.00 to C$135.00 and gave the company a “buy” rating in a research note on Thursday, December 18th. TD Securities boosted their price objective on shares of Canadian Imperial Bank of Commerce from C$124.00 to C$134.00 and gave the stock a “buy” rating in a report on Friday, December 5th. Finally, Jefferies Financial Group upped their target price on shares of Canadian Imperial Bank of Commerce from C$106.00 to C$118.00 and gave the stock a “hold” rating in a research report on Tuesday, November 25th. Four research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of C$126.09.

About Canadian Imperial Bank of Commerce

CIBC is a leading North American financial institution with 15 million personal banking, business, public sector and institutional clients. Across Personal and Business Banking, Commercial Banking and Wealth Management, and Capital Markets, CIBC offers a full range of advice, solutions and services through its leading digital banking network, and locations across Canada, in the United States and around the world.