Canadian Imperial Bank of Commerce (CM) to Issue Quarterly Dividend of $0.97 on April 28th

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 given a dividend of 0.97 per share on Monday, April 28th. This represents a $3.88 annualized dividend and a dividend yield of 4.68%. The ex-dividend date is Friday, March 28th.

Canadian Imperial Bank of Commerce Stock Up 0.5 %

Shares of TSE CM opened at C$82.87 on Wednesday. The stock has a market capitalization of C$77.53 billion, a P/E ratio of 10.94, a P/E/G ratio of 3.03 and a beta of 1.12. The firm’s 50-day moving average price is C$86.60 and its two-hundred day moving average price is C$87.10. Canadian Imperial Bank of Commerce has a 52-week low of C$64.02 and a 52-week high of C$95.50.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on the stock. Royal Bank of Canada set a C$108.00 price target on shares of Canadian Imperial Bank of Commerce and gave the stock an “outperform” rating in a research report on Monday, March 17th. Canaccord Genuity Group upped their target price on shares of Canadian Imperial Bank of Commerce from C$92.00 to C$99.00 in a research report on Friday, December 6th. Scotiabank cut their price target on Canadian Imperial Bank of Commerce from C$114.00 to C$95.00 and set an “outperform” rating on the stock in a report on Thursday, February 20th. Cormark increased their price objective on Canadian Imperial Bank of Commerce from C$99.00 to C$104.00 in a report on Friday, December 6th. Finally, TD Securities cut their target price on Canadian Imperial Bank of Commerce from C$100.00 to C$99.00 and set a “buy” rating on the stock in a research note on Friday, February 28th. One research analyst has rated the stock with a sell rating, one has given a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus 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.