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

Canadian Imperial Bank of Commerce (TSE:CM) (NYSE:CM) declared a quarterly dividend on Thursday, February 27th, 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 annualized dividend and a dividend yield of 4.43%.

Canadian Imperial Bank of Commerce Price Performance

Shares of Canadian Imperial Bank of Commerce stock opened at C$87.67 on Friday. The stock has a market cap of C$82.02 billion, a P/E ratio of 11.58, a P/E/G ratio of 3.03 and a beta of 1.12. The stock’s 50 day simple moving average is C$89.71 and its 200-day simple moving average is C$85.86. Canadian Imperial Bank of Commerce has a 1-year low of C$63.20 and a 1-year high of C$95.50.

Insider Transactions at Canadian Imperial Bank of Commerce

In other news, Director Victor George Dodig sold 150,000 shares of the company’s stock in a transaction on Tuesday, December 10th. The stock was sold at an average price of C$94.22, for a total transaction of C$14,132,865.00. Also, Senior Officer Robert Sedran sold 20,652 shares of the business’s stock in a transaction on Thursday, December 12th. The stock was sold at an average price of C$94.97, for a total transaction of C$1,961,227.51. Over the last 90 days, insiders have sold 177,012 shares of company stock valued at $16,687,218. 0.02% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several research firms have recently commented on CM. UBS Group reduced their price target on shares of Canadian Imperial Bank of Commerce from C$102.00 to C$96.00 in a research report on Friday, February 14th. BMO Capital Markets lifted their price target on shares of Canadian Imperial Bank of Commerce from C$81.00 to C$99.00 in a research report on Monday, November 18th. Royal Bank of Canada lifted their price target on shares of Canadian Imperial Bank of Commerce from C$103.00 to C$108.00 in a research report on Friday. TD Securities reduced 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 research report on Friday. Finally, Scotiabank reduced their price target on shares of Canadian Imperial Bank of Commerce from C$114.00 to C$95.00 and set an “outperform” rating on the stock in a research report on Thursday, February 20th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat, the company has an average 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.