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

Canadian Imperial Bank of Commerce (TSE:CM) (NYSE:CM) announced a quarterly dividend on Friday, December 27th,RTT News reports. Shareholders of record on Friday, December 27th will be given a dividend of 0.97 per share on Tuesday, January 28th. This represents a $3.88 annualized dividend and a yield of 4.19%. The ex-dividend date of this dividend is Friday, December 27th. This is an increase from Canadian Imperial Bank of Commerce’s previous quarterly dividend of $0.90.

Canadian Imperial Bank of Commerce Stock Up 0.2 %

TSE CM opened at C$92.53 on Wednesday. The firm’s 50 day moving average is C$89.73 and its 200-day moving average is C$78.44. The company has a market capitalization of C$87.44 billion, a PE ratio of 13.39, a price-to-earnings-growth ratio of 3.03 and a beta of 1.12. Canadian Imperial Bank of Commerce has a 12-month low of C$59.53 and a 12-month high of C$95.50.

Insider Transactions at Canadian Imperial Bank of Commerce

In related news, Director Victor George Dodig sold 150,000 shares of the company’s stock in a transaction dated Tuesday, December 10th. The shares were sold at an average price of C$94.22, for a total value of C$14,132,865.00. Also, Senior Officer Susan Rimmer sold 1,000 shares of the firm’s stock in a transaction dated Thursday, December 19th. The stock was sold at an average price of C$93.14, for a total transaction of C$93,140.00. In the last 90 days, insiders sold 177,812 shares of company stock worth $16,753,778. 0.02% of the stock is owned by insiders.

Analysts Set New Price Targets

Several equities research analysts have commented on the stock. UBS Group boosted their price target on shares of Canadian Imperial Bank of Commerce from C$94.00 to C$102.00 in a research report on Monday, December 16th. National Bankshares increased their price target on Canadian Imperial Bank of Commerce from C$86.00 to C$94.00 in a research report on Wednesday, November 20th. Desjardins raised their price target on Canadian Imperial Bank of Commerce from C$77.00 to C$83.00 and gave the company a “buy” rating in a research note on Friday, August 30th. Bank of America upgraded Canadian Imperial Bank of Commerce from a “neutral” rating to a “buy” rating and upped their price objective for the stock from C$74.00 to C$90.00 in a research note on Friday, August 30th. Finally, Royal Bank of Canada raised their target price on shares of 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 analyst has rated the stock with a sell rating, three have issued a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat, Canadian Imperial Bank of Commerce presently has a consensus rating of “Moderate Buy” and an average target price of C$92.67.

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 Canadian Personal and Business Banking; Canadian Commercial Banking and Wealth Management; U.S.