Katharine Berghuis Stevenson Buys 4,000 Shares of Canadian Imperial Bank of Commerce (TSE:CM) Stock

Canadian Imperial Bank of Commerce (TSE:CM) (NYSE:CM) Director Katharine Berghuis Stevenson bought 4,000 shares of the business’s stock in a transaction on Tuesday, September 17th. The stock was purchased at an average cost of C$109.52 per share, for a total transaction of C$438,080.00. Following the transaction, the director now owns 20,352 shares of the company’s stock, valued at C$2,228,951.04.

TSE CM traded up C$1.23 during trading hours on Friday, hitting C$109.89. 1,572,900 shares of the stock were exchanged, compared to its average volume of 1,644,445. The company has a market cap of $48.95 billion and a price-to-earnings ratio of 9.63. Canadian Imperial Bank of Commerce has a 12-month low of C$97.55 and a 12-month high of C$117.07. The stock has a 50-day moving average of C$106.42 and a 200 day moving average of C$105.90.

Canadian Imperial Bank of Commerce (TSE:CM) (NYSE:CM) last issued its earnings results on Thursday, August 22nd. The company reported C$3.10 earnings per share for the quarter, topping the consensus estimate of C$3.06 by C$0.04. The company had revenue of C$4.73 billion for the quarter, compared to analyst estimates of C$4.67 billion. On average, analysts expect that Canadian Imperial Bank of Commerce will post 12.3800004 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Monday, October 28th. Stockholders of record on Friday, September 27th will be given a $1.44 dividend. The ex-dividend date is Thursday, September 26th. This is a positive change from Canadian Imperial Bank of Commerce’s previous quarterly dividend of $1.40. This represents a $5.76 annualized dividend and a dividend yield of 5.24%. Canadian Imperial Bank of Commerce’s dividend payout ratio is currently 48.38%.

Several equities analysts have issued reports on the stock. CSFB decreased their price objective on shares of Canadian Imperial Bank of Commerce from C$106.00 to C$105.00 in a research note on Friday, September 6th. Royal Bank of Canada decreased their price objective on shares of Canadian Imperial Bank of Commerce from C$128.00 to C$124.00 and set a “sector perform” rating for the company in a research note on Friday, August 23rd. Citigroup decreased their price objective on shares of Canadian Imperial Bank of Commerce from C$120.00 to C$115.00 in a research note on Monday, September 9th. National Bank Financial decreased their price objective on shares of Canadian Imperial Bank of Commerce from C$115.00 to C$110.00 and set a “sector perform” rating for the company in a research note on Friday, August 23rd. Finally, BMO Capital Markets reduced their target price on shares of Canadian Imperial Bank of Commerce from C$120.00 to C$117.00 in a report on Friday, August 23rd. Seven analysts have rated the stock with a hold rating, The company has an average rating of “Hold” and an average target price of C$115.00.

About Canadian Imperial Bank of Commerce

Canadian Imperial Bank of Commerce, a diversified financial institution, provides various financial products and services to personal, business, public sector, and institutional clients in Canada, the United States, and internationally. The company operates through four strategic business units: Canadian Personal and Small Business Banking; Canadian Commercial Banking and Wealth Management; U.S.

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