Canadian Imperial Bank of Commerce (CM) to Issue Quarterly Dividend of $1.07 on October 28th

Canadian Imperial Bank of Commerce (TSE:CM) (NYSE:CM) announced a quarterly dividend on Monday, September 28th. Shareholders of record on Wednesday, October 28th will be paid a dividend of $1.07 per share on Wednesday, October 28th. This represents a $4.28 annualized dividend and a yield of 2.7%. The ex-dividend date of this dividend is Monday, September 28th.

Canadian Imperial Bank of Commerce Stock Performance

CM opened at C$160.72 on Friday. The firm’s fifty day moving average is C$163.09 and its two-hundred day moving average is C$154.65. The firm has a market cap 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 has a twelve month low of C$109.74 and a twelve month high of C$172.87.

Canadian Imperial Bank of Commerce (TSE:CM) (NYSE:CM) last released 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 business had revenue of C$8.37 billion during the quarter. Equities analysts forecast that Canadian Imperial Bank of Commerce will post 6.4127341 EPS for the current fiscal year.

Analysts Set New Price Targets

CM has been the subject of several research analyst reports. Royal Bank Of Canada boosted their price objective on Canadian Imperial Bank of Commerce from C$167.00 to C$176.00 and gave the company an “outperform” rating in a research report on Friday, August 28th. Scotiabank raised their target price on shares of Canadian Imperial Bank of Commerce from C$155.00 to C$157.00 and gave the stock a “sector perform” rating in a report on Tuesday, June 16th. Raymond James Financial lifted their price target on shares of Canadian Imperial Bank of Commerce from C$155.50 to C$173.50 and gave the company a “market perform” rating in a research note on Wednesday, August 12th. Keefe, Bruyette & Woods set a C$186.00 price target on shares of Canadian Imperial Bank of Commerce and gave the company a “hold” rating in a report on Friday, August 21st. Finally, Barclays raised their price objective on shares of Canadian Imperial Bank of Commerce from C$144.00 to C$170.00 in a report on Friday, August 21st. Five investment analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of C$167.79.

Canadian Imperial Bank of Commerce Company Profile

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.