Canadian Imperial Bank of Commerce Announces Quarterly Dividend of $0.97 (TSE:CM)

Canadian Imperial Bank of Commerce (TSE:CM) (NYSE:CM) announced a quarterly dividend on Thursday, May 29th, RTT News reports. Shareholders of record on Friday, June 27th will be given a dividend of 0.97 per share on Monday, July 28th. This represents a $3.88 annualized dividend and a yield of 4.14%.

Canadian Imperial Bank of Commerce Stock Performance

Shares of TSE CM opened at C$93.71 on Friday. Canadian Imperial Bank of Commerce has a 52 week low of C$64.47 and a 52 week high of C$96.45. The stock has a market capitalization of C$87.67 billion, a PE ratio of 12.38, a price-to-earnings-growth ratio of 3.03 and a beta of 1.12. The stock has a 50 day moving average price of C$85.70 and a 200 day moving average price of C$87.80.

Analyst Upgrades and Downgrades

CM has been the subject of a number of recent analyst reports. Canaccord Genuity Group dropped their price objective on shares of Canadian Imperial Bank of Commerce from C$93.00 to C$92.00 in a research report on Monday, May 12th. UBS Group lowered their price target on shares of Canadian Imperial Bank of Commerce from C$102.00 to C$96.00 in a report on Friday, February 14th. National Bankshares set a C$95.00 target price on Canadian Imperial Bank of Commerce and gave the stock an “outperform” rating in a research note on Thursday, May 22nd. Jefferies Financial Group cut Canadian Imperial Bank of Commerce from a “buy” rating to a “hold” rating and dropped their price target for the stock from C$100.00 to C$89.00 in a report on Monday, April 21st. Finally, TD Securities decreased their price objective on Canadian Imperial Bank of Commerce from C$100.00 to C$99.00 and set a “buy” rating on the stock in a report on Friday, February 28th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of C$94.31.

Insider Buying and Selling at Canadian Imperial Bank of Commerce

In other Canadian Imperial Bank of Commerce news, Senior Officer Sandy Sharman sold 1,027 shares of the firm’s stock in a transaction that occurred on Friday, March 21st. The shares were sold at an average price of C$81.27, for a total value of C$83,464.29. Company insiders own 0.02% of the company’s stock.

Canadian Imperial Bank of Commerce Company Profile

Canadian Imperial Bank of Commerce is Canada’s fifth- largest bank, operating three business segments: retail and business banking, wealth management, and capital markets. It serves approximately 11 million personal banking and business customers, primarily in Canada.