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

Canadian Imperial Bank of Commerce (TSE:CM) (NYSE:CM) declared a quarterly dividend on Friday, March 28th, RTT News reports. Stockholders of record on Friday, March 28th will be paid a dividend of 0.97 per share on Monday, April 28th. This represents a $3.88 dividend on an annualized basis and a dividend yield of 4.68%. The ex-dividend date is Friday, March 28th.

Canadian Imperial Bank of Commerce Trading Up 0.5 %

TSE:CM opened at C$82.87 on Wednesday. The business’s fifty day moving average price is C$86.60 and its 200 day moving average price is C$87.10. The firm has a market capitalization of C$77.53 billion, a price-to-earnings ratio of 10.94, a PEG ratio of 3.03 and a beta of 1.12. Canadian Imperial Bank of Commerce has a 1-year low of C$64.02 and a 1-year high of C$95.50.

Wall Street Analysts Forecast Growth

CM has been the topic of a number of research reports. UBS Group dropped their target price on Canadian Imperial Bank of Commerce from C$102.00 to C$96.00 in a report on Friday, February 14th. Canaccord Genuity Group upped their price objective on shares of Canadian Imperial Bank of Commerce from C$92.00 to C$99.00 in a research note on Friday, December 6th. Royal Bank of Canada set a C$108.00 target price on shares of Canadian Imperial Bank of Commerce and gave the company an “outperform” rating in a research note on Monday, March 17th. TD Securities lowered their price target on shares of 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. Finally, Scotiabank cut their price objective on Canadian Imperial Bank of Commerce from C$114.00 to C$95.00 and set an “outperform” rating for the company in a report on Thursday, February 20th. One analyst has rated the stock with a sell rating, one has issued a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of C$93.50.

About Canadian Imperial Bank of Commerce

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.