Canadian Imperial Bank of Commerce (NYSE:cm) announced a dividend on Thursday, August 25th. Stockholders of record on Wednesday, September 28th will be given a dividend of 0.928 per share on Friday, October 28th. The ex-dividend date is Monday, September 26th. This is an increase from Canadian Imperial Bank of Commerce’s previous dividend of $0.86.

Shares of Canadian Imperial Bank of Commerce (NYSE:CM) opened at 76.65 on Wednesday. The company has a market capitalization of $30.26 billion, a PE ratio of 9.80 and a beta of 1.03. The company’s 50 day moving average is $77.90 and its 200-day moving average is $76.99. Canadian Imperial Bank of Commerce has a 52 week low of $56.29 and a 52 week high of $82.60.

Canadian Imperial Bank of Commerce (NYSE:CM) last issued its quarterly earnings results on Thursday, August 25th. The company reported $2.67 EPS for the quarter, topping analysts’ consensus estimates of $2.35 by $0.32. Canadian Imperial Bank of Commerce had a return on equity of 18.83% and a net margin of 22.51%. During the same quarter last year, the firm earned $2.45 earnings per share. On average, analysts expect that Canadian Imperial Bank of Commerce will post $7.66 EPS for the current fiscal year.

A number of analysts have recently weighed in on CM shares. RBC Capital Markets reissued a “sector perform” rating and set a $112.00 price target (up previously from $104.00) on shares of Canadian Imperial Bank of Commerce in a research report on Friday, August 26th. Scotiabank reissued a “sector perform” rating and set a $105.00 price target (up previously from $102.00) on shares of Canadian Imperial Bank of Commerce in a research report on Monday, August 29th. Royal Bank Of Canada raised their price target on shares of Canadian Imperial Bank of Commerce from $104.00 to $112.00 and gave the stock a “sector perform” rating in a research report on Friday, August 26th. Zacks Investment Research raised shares of Canadian Imperial Bank of Commerce from a “sell” rating to a “hold” rating in a research report on Thursday, August 4th. Finally, Desjardins reissued a “buy” rating and set a $110.00 price target (up previously from $109.00) on shares of Canadian Imperial Bank of Commerce in a research report on Monday, August 29th. Five equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and four have given a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus target price of $101.00.

Several hedge funds and other institutional investors have recently modified their holdings of the company. Raymond James & Associates raised its position in shares of Canadian Imperial Bank of Commerce by 14.5% in the second quarter. Raymond James & Associates now owns 14,065 shares of the company’s stock worth $1,054,000 after buying an additional 1,783 shares during the period. FMR LLC raised its position in shares of Canadian Imperial Bank of Commerce by 1.4% in the second quarter. FMR LLC now owns 613,030 shares of the company’s stock worth $46,045,000 after buying an additional 8,600 shares during the period. Baird Financial Group Inc. acquired a new position in shares of Canadian Imperial Bank of Commerce during the second quarter worth approximately $1,462,000. Pacad Investment Ltd. acquired a new position in shares of Canadian Imperial Bank of Commerce during the second quarter worth approximately $593,000. Finally, FIL Ltd raised its position in shares of Canadian Imperial Bank of Commerce by 69.5% in the second quarter. FIL Ltd now owns 219,103 shares of the company’s stock worth $16,457,000 after buying an additional 89,856 shares during the period. Institutional investors own 52.59% of the company’s stock.

Canadian Imperial Bank of Commerce Company Profile

Canadian Imperial Bank of Commerce (CIBC) is a global financial institution. The Company provides a range of financial products and services to approximately 11 million individual, small business, commercial, corporate and institutional clients in Canada and around the world. The Company operates through three segments: Retail and Business Banking, Wealth Management and Capital Markets.

5 Day Chart for NYSE:CM

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