Canadian Imperial Bank of Commerce (TSE:CM) (NYSE:CM) announced a quarterly dividend on Thursday, August 23rd, RTT News reports. Shareholders of record on Friday, September 28th will be given a dividend of 1.36 per share on Monday, October 29th. This represents a $5.44 dividend on an annualized basis and a yield of 4.41%. The ex-dividend date is Thursday, September 27th. This is a positive change from Canadian Imperial Bank of Commerce’s previous quarterly dividend of $1.33.

Canadian Imperial Bank of Commerce stock opened at C$123.23 on Wednesday. Canadian Imperial Bank of Commerce has a one year low of C$108.38 and a one year high of C$125.21.

Canadian Imperial Bank of Commerce (TSE:CM) (NYSE:CM) last posted its quarterly earnings results on Thursday, August 23rd. The company reported C$3.08 EPS for the quarter, topping the Zacks’ consensus estimate of C$2.88 by C$0.20. Canadian Imperial Bank of Commerce had a return on equity of 18.90% and a net margin of 31.76%. The firm had revenue of C$4.55 billion during the quarter, compared to analyst estimates of C$4.39 billion.

A number of research firms have recently commented on CM. TD Securities raised their price target on Canadian Imperial Bank of Commerce from C$140.00 to C$145.00 and gave the stock a “buy” rating in a report on Thursday, August 23rd. Citigroup raised Canadian Imperial Bank of Commerce from a “neutral” rating to a “buy” rating and raised their price target for the stock from C$125.00 to C$130.00 in a report on Wednesday, June 6th. National Bank Financial raised their price target on Canadian Imperial Bank of Commerce from C$124.00 to C$127.00 and gave the stock a “sector perform” rating in a report on Friday, August 24th. Finally, BMO Capital Markets raised their price target on Canadian Imperial Bank of Commerce from C$130.00 to C$135.00 and gave the stock a “market perform” rating in a report on Friday, August 24th. Four investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Canadian Imperial Bank of Commerce has a consensus rating of “Buy” and an average price target of C$134.18.

In other Canadian Imperial Bank of Commerce news, Director Katharine Berghuis Stevenson acquired 1,200 shares of the company’s stock in a transaction that occurred on Thursday, August 30th. The stock was bought at an average price of C$122.80 per share, with a total value of C$147,360.00. Also, Director Victor George Dodig sold 16,000 shares of Canadian Imperial Bank of Commerce stock in a transaction on Tuesday, September 18th. The shares were sold at an average price of C$122.91, for a total value of C$1,966,560.00.

Canadian Imperial Bank of Commerce Company Profile

Canadian Imperial Bank of Commerce, a diversified financial institution, provides various financial products and services to individual, small business, commercial, corporate, 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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