Insider Selling: Canadian Imperial Bank of Commerce (CM) Director Sells C$1,425,992.40 in Stock

Canadian Imperial Bank of Commerce (TSE:CM) (NYSE:CM) Director Laura Lee Dottori-Attanasio sold 11,928 shares of the stock in a transaction dated Thursday, December 14th. The stock was sold at an average price of C$119.55, for a total transaction of C$1,425,992.40.

Shares of Canadian Imperial Bank of Commerce (TSE:CM) opened at C$119.43 on Monday. Canadian Imperial Bank of Commerce has a 1-year low of C$103.84 and a 1-year high of C$122.56.

The business also recently declared a quarterly dividend, which will be paid on Monday, January 29th. Stockholders of record on Thursday, December 28th will be issued a dividend of $1.30 per share. This represents a $5.20 dividend on an annualized basis and a dividend yield of 4.35%. The ex-dividend date is Wednesday, December 27th. Canadian Imperial Bank of Commerce’s payout ratio is presently 45.08%.

Several analysts recently commented on CM shares. Canaccord Genuity set a C$126.00 price objective on shares of Canadian Imperial Bank of Commerce in a research report on Friday, December 1st. Barclays increased their price objective on shares of Canadian Imperial Bank of Commerce from C$110.00 to C$119.00 in a research report on Friday, December 1st. Keefe, Bruyette & Woods increased their price objective on shares of Canadian Imperial Bank of Commerce from C$115.00 to C$116.00 in a research report on Tuesday, August 22nd. Scotiabank increased their price objective on shares of Canadian Imperial Bank of Commerce from C$128.00 to C$135.00 in a research report on Friday, December 1st. Finally, TD Securities raised shares of Canadian Imperial Bank of Commerce from a “hold” rating to a “buy” rating and set a C$120.00 price objective on the stock in a research report on Wednesday, September 6th. One analyst has rated the stock with a sell rating, five have given a hold rating and four have issued a buy rating to the company’s stock. Canadian Imperial Bank of Commerce has a consensus rating of “Hold” and a consensus price target of C$124.92.

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About Canadian Imperial Bank of Commerce

Canadian Imperial Bank of Commerce (CIBC) is a global financial institution. The Company provides a range of financial products and services to approximately 11 million individual, small business, commercial, corporate and institutional clients in Canada and around the world. The Company operates through three segments: Retail and Business Banking, Wealth Management and Capital Markets.

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