Canadian Imperial Bank of Commerce Declares Quarterly Dividend of $0.90 (TSE:CM)

Canadian Imperial Bank of Commerce (TSE:CM) (NYSE:CM) declared a quarterly dividend on Friday, September 27th, RTT News reports. Stockholders of record on Monday, October 28th will be paid a dividend of 0.90 per share on Monday, October 28th. This represents a $3.60 annualized dividend and a dividend yield of 4.31%. The ex-dividend date of this dividend is Friday, September 27th.

Canadian Imperial Bank of Commerce Stock Performance

Canadian Imperial Bank of Commerce stock opened at C$83.62 on Thursday. The firm has a 50 day moving average price of C$74.86 and a 200 day moving average price of C$69.50. Canadian Imperial Bank of Commerce has a fifty-two week low of C$47.44 and a fifty-two week high of C$84.17. The company has a market capitalization of C$79.02 billion, a PE ratio of 12.10, a price-to-earnings-growth ratio of 3.01 and a beta of 1.12.

Canadian Imperial Bank of Commerce (TSE:CM) (NYSE:CM) last issued its quarterly earnings data on Thursday, August 29th. The company reported C$1.93 earnings per share for the quarter, beating analysts’ consensus estimates of C$1.75 by C$0.18. Canadian Imperial Bank of Commerce had a return on equity of 12.37% and a net margin of 29.56%. The business had revenue of C$6.60 billion during the quarter, compared to analysts’ expectations of C$6.31 billion. As a group, equities research analysts forecast that Canadian Imperial Bank of Commerce will post 7.5778986 earnings per share for the current year.

Analyst Upgrades and Downgrades

CM has been the topic of a number of recent research reports. BMO Capital Markets boosted their price target on shares of Canadian Imperial Bank of Commerce from C$77.00 to C$81.00 and gave the stock an “outperform” rating in a research note on Friday, August 30th. National Bankshares upped their target price on shares of Canadian Imperial Bank of Commerce from C$78.00 to C$86.00 and gave the stock an “outperform” rating in a research note on Friday, August 30th. Cormark upgraded shares of Canadian Imperial Bank of Commerce from a “market perform” rating to a “buy” rating and boosted their price target for the stock from C$75.00 to C$83.00 in a research note on Friday, August 30th. UBS Group set a C$70.00 price objective on Canadian Imperial Bank of Commerce and gave the stock a “neutral” rating in a research report on Tuesday, July 2nd. Finally, Royal Bank of Canada increased their price objective on Canadian Imperial Bank of Commerce from C$69.00 to C$74.00 and gave the company a “sector perform” rating in a research note on Friday, August 30th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of C$79.15.

Insiders Place Their Bets

In other news, Senior Officer Christina Charlotte Kramer sold 37,022 shares of the stock in a transaction dated Monday, September 16th. The stock was sold at an average price of C$83.40, for a total value of C$3,087,634.80. In other news, Senior Officer Christina Charlotte Kramer sold 37,022 shares of the company’s stock in a transaction on Monday, September 16th. The shares were sold at an average price of C$83.40, for a total value of C$3,087,634.80. Also, Director Harry Kenneth Culham sold 47,430 shares of the stock in a transaction on Friday, September 13th. The shares were sold at an average price of C$83.41, for a total transaction of C$3,956,136.30. Insiders sold 152,257 shares of company stock valued at $12,585,939 in the last ninety days. Insiders own 0.02% of the company’s stock.

Canadian Imperial Bank of Commerce Company Profile

Canadian Imperial Bank of Commerce, a diversified financial institution, provides various financial products and services to personal, business, public sector, and institutional clients in Canada, the United States, and internationally. The company operates through Canadian Personal and Business Banking; Canadian Commercial Banking and Wealth Management; U.S.