Key Points
- Insider sale: CIBC insider Amy Florence South sold 4,218 shares at an average price of C$161.41, for total proceeds of approximately C$680,827.
- Financial performance and dividend: CIBC reported quarterly EPS of C$2.73 and revenue of C$8.37 billion. The bank declared a quarterly dividend of C$1.07, equivalent to C$4.28 annually and a 2.7% yield.
- Analyst view: Analysts have a consensus “Hold” rating and an average price target of C$167.79, with five Buy ratings and seven Hold ratings.
Canadian Imperial Bank of Commerce (TSE:CM - Get Free Report) (NYSE:CM) insider Amy Florence South sold 4,218 shares of the firm's stock in a transaction on Tuesday, September 22nd. The shares were sold at an average price of C$161.41, for a total value of C$680,827.38.
Canadian Imperial Bank of Commerce Stock Up 2.1%
TSE:CM opened at C$160.72 on Friday. Canadian Imperial Bank of Commerce has a 52-week low of C$109.74 and a 52-week high of C$172.87. The stock has a fifty day simple moving average of C$163.09 and a 200-day simple moving average of C$154.65. The company has a market capitalization of C$145.92 billion, a PE ratio of 15.42, a price-to-earnings-growth ratio of 3.03 and a beta of 1.26.
Canadian Imperial Bank of Commerce (TSE:CM - Get Free Report) (NYSE:CM) last issued its quarterly earnings data on Thursday, August 27th. The company reported C$2.73 EPS for the quarter. Canadian Imperial Bank of Commerce had a net margin of 16.13% and a return on equity of 15.44%. The firm had revenue of C$8.37 billion for the quarter. As a group, equities analysts anticipate that Canadian Imperial Bank of Commerce will post 6.4127341 earnings per share for the current year.
Canadian Imperial Bank of Commerce Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 28th. Shareholders of record on Wednesday, October 28th will be issued a $1.07 dividend. This represents a $4.28 annualized dividend and a dividend yield of 2.7%. The ex-dividend date of this dividend is Monday, September 28th. Canadian Imperial Bank of Commerce's dividend payout ratio is 40.12%.
Wall Street Analyst Weigh In
A number of research analysts have recently weighed in on CM shares. Desjardins dropped their price objective on shares of Canadian Imperial Bank of Commerce from C$173.00 to C$170.00 and set a "hold" rating for the company in a research note on Friday, August 28th. Royal Bank Of Canada upped their target price on Canadian Imperial Bank of Commerce from C$167.00 to C$176.00 and gave the company an "outperform" rating in a research note on Friday, August 28th. National Bank Financial set a C$180.00 target price on Canadian Imperial Bank of Commerce and gave the company a "sector perform" rating in a report on Monday, August 24th. Keefe, Bruyette & Woods set a C$186.00 price target on Canadian Imperial Bank of Commerce and gave the stock a "hold" rating in a research report on Friday, August 21st. Finally, Canaccord Genuity Group upped their price objective on Canadian Imperial Bank of Commerce from C$168.00 to C$169.00 and gave the company a "hold" rating in a research report on Friday, August 28th. Five investment analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus price target of C$167.79.
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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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