Canadian Imperial Bank of Commerce (CM) Announces Dividend Increase – $1.05 Per Share

Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) announced a quarterly dividend on Thursday, February 22nd, Zacks reports. Shareholders of record on Wednesday, March 28th will be paid a dividend of 1.047 per share by the bank on Friday, April 27th. This represents a $4.19 dividend on an annualized basis and a dividend yield of 4.73%. The ex-dividend date of this dividend is Tuesday, March 27th. This is a boost from Canadian Imperial Bank of Commerce’s previous quarterly dividend of $1.01.

Canadian Imperial Bank of Commerce has increased its dividend by an average of 2.4% annually over the last three years and has raised its dividend every year for the last 2 years. Canadian Imperial Bank of Commerce has a payout ratio of 59.3% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Canadian Imperial Bank of Commerce to earn $9.77 per share next year, which means the company should continue to be able to cover its $5.20 annual dividend with an expected future payout ratio of 53.2%.

How to Become a New Pot Stock Millionaire

Shares of Canadian Imperial Bank of Commerce (NYSE CM) opened at $88.59 on Monday. Canadian Imperial Bank of Commerce has a 52 week low of $77.20 and a 52 week high of $100.01. The stock has a market capitalization of $39,365.28, a price-to-earnings ratio of 10.02, a price-to-earnings-growth ratio of 1.63 and a beta of 1.13. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 0.10.

Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) last issued its earnings results on Thursday, February 22nd. The bank reported $2.50 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.26 by $0.24. Canadian Imperial Bank of Commerce had a return on equity of 17.57% and a net margin of 21.38%. The business had revenue of $3.51 billion during the quarter, compared to the consensus estimate of $3.32 billion. sell-side analysts anticipate that Canadian Imperial Bank of Commerce will post 9.31 earnings per share for the current fiscal year.

A number of equities analysts have recently weighed in on CM shares. Zacks Investment Research upgraded Canadian Imperial Bank of Commerce from a “hold” rating to a “strong-buy” rating and set a $108.00 price target for the company in a report on Tuesday, February 27th. Barclays upgraded Canadian Imperial Bank of Commerce from an “underweight” rating to an “overweight” rating in a report on Tuesday, December 19th. Credit Suisse Group upgraded Canadian Imperial Bank of Commerce from a “neutral” rating to an “outperform” rating and increased their price target for the stock from $116.00 to $125.00 in a report on Friday, December 1st. Finally, Canaccord Genuity reiterated a “buy” rating and set a $121.00 price target on shares of Canadian Imperial Bank of Commerce in a report on Thursday, November 30th. One research analyst has rated the stock with a sell rating, three have given a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company’s stock. Canadian Imperial Bank of Commerce currently has a consensus rating of “Buy” and a consensus target price of $115.86.

ILLEGAL ACTIVITY NOTICE: This piece was originally reported by Ticker Report and is owned by of Ticker Report. If you are viewing this piece on another website, it was illegally stolen and republished in violation of United States and international copyright and trademark law. The legal version of this piece can be accessed at https://www.tickerreport.com/banking-finance/3301706/canadian-imperial-bank-of-commerce-cm-announces-dividend-increase-1-05-per-share.html.

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.

Dividend History for Canadian Imperial Bank of Commerce (NYSE:CM)

Receive News & Ratings for Canadian Imperial Bank of Commerce Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Canadian Imperial Bank of Commerce and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

Analysts Anticipate Cambrex Co.  Will Post Quarterly Sales of $110.80 Million
Analysts Anticipate Cambrex Co. Will Post Quarterly Sales of $110.80 Million
Instructure  Expected to Post Earnings of -$0.23 Per Share
Instructure Expected to Post Earnings of -$0.23 Per Share
$0.71 Earnings Per Share Expected for Legg Mason  This Quarter
$0.71 Earnings Per Share Expected for Legg Mason This Quarter
Head to Head Review: Teladoc  versus iKang Healthcare Group
Head to Head Review: Teladoc versus iKang Healthcare Group
Contrasting Triumph Group  and Textron
Contrasting Triumph Group and Textron
Aaron’s  & The Competition Financial Analysis
Aaron’s & The Competition Financial Analysis


© 2006-2018 Ticker Report. Google+.