Canadian Imperial Bank of Commerce (TSE:CM) Insider Stephen Alan Scholtz Sells 6,000 Shares of Stock

Canadian Imperial Bank of Commerce (TSE:CM) (NYSE:CM) insider Stephen Alan Scholtz sold 6,000 shares of Canadian Imperial Bank of Commerce stock in a transaction dated Wednesday, June 24th. The shares were sold at an average price of C$162.70, for a total value of C$976,200.00.

Canadian Imperial Bank of Commerce Stock Performance

CM traded down C$0.18 during midday trading on Thursday, reaching C$161.99. 1,352,824 shares of the company were exchanged, compared to its average volume of 2,556,394. The company has a market cap of C$147.86 billion, a price-to-earnings ratio of 16.07, a price-to-earnings-growth ratio of 3.03 and a beta of 1.42. Canadian Imperial Bank of Commerce has a one year low of C$95.01 and a one year high of C$163.59. The company’s fifty day moving average price is C$153.52 and its 200 day moving average price is C$138.77.

Canadian Imperial Bank of Commerce (TSE:CM) (NYSE:CM) last posted its earnings results on Thursday, May 28th. The company reported C$2.54 earnings per share for the quarter. The company had revenue of C$8.01 billion for the quarter. Canadian Imperial Bank of Commerce had a return on equity of 15.24% and a net margin of 18.44%. As a group, sell-side analysts anticipate that Canadian Imperial Bank of Commerce will post 6.4127341 earnings per share for the current fiscal year.

Canadian Imperial Bank of Commerce Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, April 28th. Shareholders of record on Tuesday, April 28th were issued a dividend of $1.07 per share. This represents a $4.28 dividend on an annualized basis and a yield of 2.6%. The ex-dividend date of this dividend was Friday, March 27th. Canadian Imperial Bank of Commerce’s payout ratio is currently 40.48%.

Analyst Ratings Changes

A number of research firms recently weighed in on CM. National Bank Financial raised their price target on shares of Canadian Imperial Bank of Commerce from C$150.00 to C$152.00 and gave the company a “sector perform” rating in a research report on Friday, May 15th. Barclays increased their price objective on shares of Canadian Imperial Bank of Commerce from C$137.00 to C$141.00 in a research note on Monday, March 2nd. Jefferies Financial Group lifted their target price on shares of Canadian Imperial Bank of Commerce from C$136.00 to C$143.00 in a research report on Wednesday, May 20th. Desjardins boosted their target price on Canadian Imperial Bank of Commerce from C$152.00 to C$160.00 and gave the stock a “buy” rating in a research note on Tuesday, May 5th. Finally, Scotiabank upped their target price on Canadian Imperial Bank of Commerce from C$155.00 to C$157.00 and gave the company a “sector perform” rating in a report on Tuesday, June 16th. Six investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of C$152.86.

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.