CIBC (CM) Plans Quarterly Dividend of $0.93

CIBC (NYSE:CM) announced a quarterly dividend on Thursday, May 30th, Analyst Ratings.Net reports. Shareholders of record on Friday, June 28th will be paid a dividend of $0.9303 per share on Monday, July 29th. This represents a $3.72 annualized dividend and a dividend yield of 4.84%. The ex-dividend date is Wednesday, June 26th.

CM has been the subject of a number of recent research reports. Analysts at Keefe, Bruyette & Woods cut their price target on shares of CIBC from $82.00 to $81.00 in a research note to investors on Wednesday, May 22nd. They now have a “market perform” rating on the stock. On the ratings front, analysts at Zacks upgraded shares of CIBC from a “neutral” rating to an “outperform” rating in a research note to investors on Thursday, May 2nd. They now have a $85.10 price target on the stock. Finally, analysts at KBW raised their price target on shares of CIBC from $81.00 to $82.00 in a research note to investors on Friday, March 1st. They now have a “market perform” rating on the stock.

Three investment analysts have rated the stock with a sell rating, ten have issued a hold rating and three have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average target price of $85.65.

Shares of CIBC (NYSE: CM) traded down 0.95% during mid-day trading on Thursday, hitting $76.90. CIBC has a one year low of $66.32 and a one year high of $84.38. The stock’s 50-day moving average is currently $77.58. The company has a market cap of $31.016 billion and a P/E ratio of 9.73.

CIBC (NYSE: CM) last released its earnings data on Thursday, May 30th. The company reported $2.04 EPS for the quarter, meeting the Thomson Reuters consensus estimate of $2.04. Analysts expect that CIBC will post $8.46 EPS for the current fiscal year.

Canadian Imperial Bank of Commerce (NYSE: CM) is a global financial institution.

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