Key Points
- Insider sale: Director Frank Guse sold 5,000 shares on Dec. 24 at an average price of C$127.16 for C$635,800, leaving him with 1,359 shares — a 78.63% reduction in his holdings.
- Dividend raised: CIBC increased its quarterly dividend to C$1.07 (C$4.28 annualized), implying a ~3.4% yield, with an ex-dividend date of Dec. 29 and payment on Jan. 28.
- Analyst views: Multiple firms bumped price targets (e.g., TD, Desjardins, RBC, BMO, Scotiabank) but the MarketBeat consensus rating remains "Hold" with a target of C$126.09.
Canadian Imperial Bank of Commerce (TSE:CM - Get Free Report) (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 sale, the insider directly owned 1,359 shares of the company's stock, valued at approximately C$172,810.44. This trade represents a 78.63% decrease in their ownership of the stock.
Canadian Imperial Bank of Commerce Price Performance
TSE:CM opened at C$127.04 on Friday. The business's 50-day moving average is C$124.89 and its two-hundred day moving average is C$114.05. The firm has a market capitalization of C$117.72 billion, a PE ratio of 14.82, a price-to-earnings-growth ratio of 3.03 and a beta of 1.31. Canadian Imperial Bank of Commerce has a 12 month low of C$76.17 and a 12 month high of C$129.25.
Canadian Imperial Bank of Commerce (TSE:CM - Get Free Report) (NYSE:CM) last posted its earnings results on Thursday, December 4th. The company reported C$2.21 earnings per share (EPS) for the quarter. The business had revenue of C$7.58 billion during the quarter. Canadian Imperial Bank of Commerce had a return on equity of 12.61% and a net margin of 27.87%. Equities analysts anticipate that Canadian Imperial Bank of Commerce will post 6.4127341 EPS for the current year.
Canadian Imperial Bank of Commerce Increases Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 28th. Shareholders of record on Wednesday, January 28th will be given a $1.07 dividend. This represents a $4.28 annualized dividend and a yield of 3.4%. 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. Canadian Imperial Bank of Commerce's dividend payout ratio is 45.27%.
Analyst Upgrades and Downgrades
CM has been the subject of several analyst reports. TD Securities upped their target price on shares of Canadian Imperial Bank of Commerce from C$124.00 to C$134.00 and gave the company a "buy" rating in a research note on Friday, December 5th. Desjardins upped 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 report on Thursday, December 18th. Royal Bank Of Canada raised their target price on Canadian Imperial Bank of Commerce from C$131.00 to C$134.00 and gave the company an "outperform" rating in a research note on Monday, January 5th. BMO Capital Markets boosted their price target on Canadian Imperial Bank of Commerce from C$130.00 to C$135.00 in a research note on Wednesday, December 17th. Finally, Scotiabank increased their price target on Canadian Imperial Bank of Commerce from C$133.00 to C$138.00 in a report on Friday, January 9th. Four research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of C$126.09.
View Our Latest Research Report on CM
Canadian Imperial Bank of Commerce Company Profile
(
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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.
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