Canadian Imperial Bank of Commerce (CM) to Issue Quarterly Dividend of $1.44 on October 28th

Canadian Imperial Bank of Commerce (TSE:CM) (NYSE:CM) declared a quarterly dividend on Thursday, August 22nd, RTT News reports. Shareholders of record on Friday, September 27th will be given a dividend of 1.44 per share on Monday, October 28th. This represents a $5.76 dividend on an annualized basis and a yield of 5.76%. This is an increase from Canadian Imperial Bank of Commerce’s previous quarterly dividend of $1.40.

CM stock opened at C$100.03 on Friday. Canadian Imperial Bank of Commerce has a one year low of C$97.55 and a one year high of C$125.21. The stock has a market cap of $44.49 billion and a PE ratio of 8.81. The firm has a 50 day simple moving average of C$101.95 and a two-hundred day simple moving average of C$107.29.

Canadian Imperial Bank of Commerce (TSE:CM) (NYSE:CM) last released its quarterly earnings results on Wednesday, May 22nd. The company reported C$2.97 EPS for the quarter, missing the Zacks’ consensus estimate of C$2.99 by C($0.02). The business had revenue of C$4.54 billion for the quarter, compared to analyst estimates of C$4.54 billion. On average, sell-side analysts forecast that Canadian Imperial Bank of Commerce will post 12.5100001 earnings per share for the current fiscal year.

In other Canadian Imperial Bank of Commerce news, Director Nicholas D’orr Le Pan sold 500 shares of the stock in a transaction on Wednesday, June 12th. The shares were sold at an average price of C$103.47, for a total transaction of C$51,735.00. Following the completion of the sale, the director now owns 3,019 shares of the company’s stock, valued at approximately C$312,375.93.

A number of equities research analysts have recently issued reports on the stock. Canaccord Genuity upped their price objective on shares of Canadian Imperial Bank of Commerce from C$115.00 to C$121.00 in a research note on Wednesday, May 15th. National Bank Financial cut their price objective on shares of Canadian Imperial Bank of Commerce from C$115.00 to C$110.00 and set a “sector perform” rating for the company in a research note on Friday. Eight Capital cut their price objective on shares of Canadian Imperial Bank of Commerce from C$119.00 to C$107.00 in a research note on Wednesday, August 14th. Royal Bank of Canada cut their price objective on shares of Canadian Imperial Bank of Commerce from C$128.00 to C$124.00 and set a “sector perform” rating for the company in a research note on Friday. Finally, BMO Capital Markets cut their price objective on shares of Canadian Imperial Bank of Commerce from C$120.00 to C$117.00 in a research note on Friday. Seven equities research analysts have rated the stock with a hold rating, The stock currently has an average rating of “Hold” and a consensus target price of C$116.60.

About Canadian Imperial Bank of Commerce

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 four strategic business units: Canadian Personal and Small Business Banking; Canadian Commercial Banking and Wealth Management; U.S.

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Dividend History for Canadian Imperial Bank of Commerce (TSE:CM)

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