Canadian Imperial Bank of Commerce (CM) To Go Ex-Dividend on September 28th

Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) announced a quarterly dividend on Wednesday, August 26th. Stockholders of record on Monday, September 28th will be paid a dividend of 1.07 per share by the bank on Wednesday, October 28th. This represents a c) annualized dividend and a dividend yield of 3.7%. The ex-dividend date is Monday, September 28th.

Canadian Imperial Bank of Commerce has increased its dividend payment by an average of 0.0%per year over the last three years and has raised its dividend every year for the last 14 years. Canadian Imperial Bank of Commerce has a payout ratio of 51.2% meaning its dividend is sufficiently covered by earnings. Analysts expect Canadian Imperial Bank of Commerce to earn $8.05 per share next year, which means the company should continue to be able to cover its $3.10 annual dividend with an expected future payout ratio of 38.5%.

Canadian Imperial Bank of Commerce Stock Down 2.8%

Shares of CM opened at $114.85 on Friday. The company has a debt-to-equity ratio of 0.11, a current ratio of 1.05 and a quick ratio of 1.05. The stock has a market capitalization of $104.84 billion, a price-to-earnings ratio of 15.78, a price-to-earnings-growth ratio of 1.23 and a beta of 1.01. Canadian Imperial Bank of Commerce has a 1 year low of $75.00 and a 1 year high of $124.86. The business’s 50 day simple moving average is $117.41 and its 200-day simple moving average is $108.96.

Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) last posted its earnings results on Thursday, August 27th. The bank reported $1.96 earnings per share for the quarter, beating analysts’ consensus estimates of $1.80 by $0.16. Canadian Imperial Bank of Commerce had a net margin of 15.84% and a return on equity of 16.31%. The firm had revenue of $5.97 billion during the quarter, compared to analyst estimates of $5.74 billion. As a group, equities analysts expect that Canadian Imperial Bank of Commerce will post 7.41 earnings per share for the current fiscal year.

Institutional Trading of Canadian Imperial Bank of Commerce

Institutional investors have recently bought and sold shares of the stock. FIL Ltd boosted its stake in Canadian Imperial Bank of Commerce by 26.1% during the fourth quarter. FIL Ltd now owns 12,756,323 shares of the bank’s stock worth $1,156,438,000 after buying an additional 2,643,495 shares during the period. Bank of Nova Scotia raised its stake in shares of Canadian Imperial Bank of Commerce by 0.5% in the first quarter. Bank of Nova Scotia now owns 12,683,488 shares of the bank’s stock valued at $1,201,762,000 after acquiring an additional 57,210 shares during the period. Cibc World Market Inc. lifted its holdings in shares of Canadian Imperial Bank of Commerce by 1.3% in the 4th quarter. Cibc World Market Inc. now owns 12,010,183 shares of the bank’s stock worth $1,088,243,000 after acquiring an additional 158,634 shares during the last quarter. Mackenzie Financial Corp lifted its holdings in shares of Canadian Imperial Bank of Commerce by 69.3% in the 4th quarter. Mackenzie Financial Corp now owns 10,800,606 shares of the bank’s stock worth $986,173,000 after acquiring an additional 4,419,968 shares during the last quarter. Finally, Norges Bank purchased a new position in shares of Canadian Imperial Bank of Commerce during the 4th quarter worth about $958,383,000. 49.88% of the stock is currently owned by institutional investors.

About Canadian Imperial Bank of Commerce

Canadian Imperial Bank of Commerce (NYSE: CM), commonly known as CIBC, is a major Canadian financial institution headquartered in Toronto. Formed in 1961 through the merger of the Canadian Bank of Commerce and the Imperial Bank of Canada, CIBC is one of Canada’s largest banks and provides a broad range of banking and financial services to retail, small business, commercial and institutional clients.

CIBC’s activities span personal and business banking, wealth management, capital markets and corporate banking.