Key Points
- Insider selling: CIBC insider Amy Florence South sold 1,086 shares on June 25 at an average price of C$162.15, following a prior sale of 1,200 shares on June 22.
- Dividend update: The bank declared a quarterly dividend of $1.07 per share, payable on July 28, which annualizes to $4.28 per share and a 2.7% yield.
- Stock and analyst outlook: CIBC shares were trading near C$161.25, close to their 52-week high, while analysts maintain a Moderate Buy consensus with an average target price of C$152.86.
Canadian Imperial Bank of Commerce (TSE:CM - Get Free Report) (NYSE:CM) insider Amy Florence South sold 1,086 shares of Canadian Imperial Bank of Commerce stock in a transaction that occurred on Thursday, June 25th. The stock was sold at an average price of C$162.15, for a total value of C$176,094.90.
Amy Florence South also recently made the following trade(s):
- On Monday, June 22nd, Amy Florence South sold 1,200 shares of Canadian Imperial Bank of Commerce stock. The stock was sold at an average price of C$160.92, for a total value of C$193,104.00.
Canadian Imperial Bank of Commerce Trading Down 0.6%
Shares of Canadian Imperial Bank of Commerce stock opened at C$161.25 on Friday. The company's fifty day simple moving average is C$154.12 and its 200-day simple moving average is C$139.18. The company has a market cap of C$147.19 billion, a price-to-earnings ratio of 16.00, a PEG ratio of 3.03 and a beta of 1.42. Canadian Imperial Bank of Commerce has a 1 year low of C$95.01 and a 1 year high of C$163.59.
Canadian Imperial Bank of Commerce (TSE:CM - Get Free Report) (NYSE:CM) last released its earnings results on Thursday, May 28th. The company reported C$2.54 EPS for the quarter. Canadian Imperial Bank of Commerce had a net margin of 18.44% and a return on equity of 15.24%. The firm had revenue of C$8.01 billion during the quarter. As a group, research analysts forecast 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 business also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 28th. Stockholders of record on Tuesday, July 28th will be given a dividend of $1.07 per share. The ex-dividend date of this dividend is Monday, June 29th. This represents a $4.28 dividend on an annualized basis and a dividend yield of 2.7%. Canadian Imperial Bank of Commerce's dividend payout ratio is currently 40.48%.
Wall Street Analysts Forecast Growth
Several equities analysts recently issued reports on CM shares. Barclays boosted their price target on Canadian Imperial Bank of Commerce from C$137.00 to C$141.00 in a research note on Monday, March 2nd. Canaccord Genuity Group increased their target price on Canadian Imperial Bank of Commerce from C$158.00 to C$160.00 and gave the stock a "hold" rating in a report on Friday, June 5th. Scotiabank boosted their price target on Canadian Imperial Bank of Commerce from C$155.00 to C$157.00 and gave the company a "sector perform" rating in a research note on Tuesday, June 16th. Royal Bank Of Canada lowered their price target on Canadian Imperial Bank of Commerce from C$158.00 to C$147.00 and set an "outperform" rating on the stock in a research report on Wednesday, March 25th. Finally, TD dropped their price objective on Canadian Imperial Bank of Commerce from C$166.00 to C$163.00 and set a "buy" rating for the company in a research note on Friday, May 29th. Six research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of C$152.86.
Read Our Latest Analysis on Canadian Imperial Bank of Commerce
Canadian Imperial Bank of Commerce Company Profile
(
Get Free Report)
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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