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Nanci Caldwell Is The Independent Director of Canadian Imperial Bank of Commerce (TSE:CM) And They Just Picked Up 17% More Shares

Simply Wall St
·3 mins read

Even if it's not a huge purchase, we think it was good to see that Nanci Caldwell, the Independent Director of Canadian Imperial Bank of Commerce (TSE:CM) recently shelled out CA$80k to buy stock, at CA$100 per share. That purchase might not be huge but it did increase their holding by 17%.

View our latest analysis for Canadian Imperial Bank of Commerce

The Last 12 Months Of Insider Transactions At Canadian Imperial Bank of Commerce

The President Victor Dodig made the biggest insider purchase in the last 12 months. That single transaction was for CA$2.0m worth of shares at a price of CA$71.22 each. We do like to see buying, but this purchase was made at well below the current price of CA$102. Because it occurred at a lower valuation, it doesn't tell us much about whether insiders might find today's price attractive.

While Canadian Imperial Bank of Commerce insiders bought shares during the last year, they didn't sell. Their average price was about CA$84.80. These transactions show that insiders have confidence to invest their own money in the stock, albeit at slightly below the recent price. The chart below shows insider transactions (by companies and individuals) over the last year. If you want to know exactly who sold, for how much, and when, simply click on the graph below!

insider-trading-volume
insider-trading-volume

There are plenty of other companies that have insiders buying up shares. You probably do not want to miss this free list of growing companies that insiders are buying.

Does Canadian Imperial Bank of Commerce Boast High Insider Ownership?

Many investors like to check how much of a company is owned by insiders. A high insider ownership often makes company leadership more mindful of shareholder interests. Canadian Imperial Bank of Commerce insiders own about CA$21m worth of shares. That equates to 0.05% of the company. We've certainly seen higher levels of insider ownership elsewhere, but these holdings are enough to suggest alignment between insiders and the other shareholders.

So What Do The Canadian Imperial Bank of Commerce Insider Transactions Indicate?

It's certainly positive to see the recent insider purchase. And the longer term insider transactions also give us confidence. When combined with notable insider ownership, these factors suggest Canadian Imperial Bank of Commerce insiders are well aligned, and that they may think the share price is too low. Of course, the future is what matters most. So if you are interested in Canadian Imperial Bank of Commerce, you should check out this free report on analyst forecasts for the company.

Of course Canadian Imperial Bank of Commerce may not be the best stock to buy. So you may wish to see this free collection of high quality companies.

For the purposes of this article, insiders are those individuals who report their transactions to the relevant regulatory body. We currently account for open market transactions and private dispositions, but not derivative transactions.

This article by Simply Wall St is general in nature. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.

Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team@simplywallst.com.