Canadian Imperial Bank of Commerce (CM) To Go Ex-Dividend on June 29th

Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) declared a quarterly dividend on Wednesday, May 27th. Shareholders of record on Monday, June 29th will be given a dividend of 1.07 per share by the bank on Tuesday, July 28th. This represents a c) dividend on an annualized basis and a yield of 3.8%. The ex-dividend date of this dividend is Monday, June 29th.

Canadian Imperial Bank of Commerce has raised its dividend payment by an average of 0.0%annually over the last three years and has increased its dividend annually for the last 14 consecutive years. Canadian Imperial Bank of Commerce has a dividend payout ratio of 51.2% meaning its dividend is sufficiently covered by earnings. Research analysts expect Canadian Imperial Bank of Commerce to earn $7.95 per share next year, which means the company should continue to be able to cover its $3.10 annual dividend with an expected future payout ratio of 39.0%.

Canadian Imperial Bank of Commerce Trading Down 0.5%

Shares of CM stock opened at $113.80 on Friday. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 0.11. The firm has a market cap of $103.88 billion, a P/E ratio of 15.63, a PEG ratio of 1.24 and a beta of 1.02. The company has a 50 day moving average of $111.30 and a 200-day moving average of $101.00. Canadian Imperial Bank of Commerce has a 12-month low of $69.43 and a 12-month high of $117.05.

Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) last posted its quarterly earnings data on Thursday, May 28th. The bank reported $1.86 EPS for the quarter, beating the consensus estimate of $1.78 by $0.08. The business had revenue of $5.89 billion for the quarter, compared to the consensus estimate of $5.86 billion. Canadian Imperial Bank of Commerce had a return on equity of 16.31% and a net margin of 15.84%.Canadian Imperial Bank of Commerce’s revenue for the quarter was up 14.0% on a year-over-year basis. During the same quarter in the prior year, the business earned $2.05 earnings per share. Sell-side analysts anticipate that Canadian Imperial Bank of Commerce will post 7.37 earnings per share for the current year.

Hedge Funds Weigh In On Canadian Imperial Bank of Commerce

Large investors have recently modified their holdings of the company. EFG International AG bought a new stake in Canadian Imperial Bank of Commerce during the 4th quarter worth approximately $35,000. Larson Financial Group LLC increased its stake in Canadian Imperial Bank of Commerce by 119.7% in the 3rd quarter. Larson Financial Group LLC now owns 402 shares of the bank’s stock worth $32,000 after acquiring an additional 219 shares during the last quarter. Lodestone Wealth Management LLC purchased a new stake in shares of Canadian Imperial Bank of Commerce in the 4th quarter valued at about $37,000. Global Assets Advisory LLC purchased a new stake in shares of Canadian Imperial Bank of Commerce in the 1st quarter valued at about $54,000. Finally, Aventura Private Wealth LLC bought a new stake in shares of Canadian Imperial Bank of Commerce during the 4th quarter valued at about $69,000. 49.88% of the stock is currently owned by institutional investors.

About Canadian Imperial Bank of Commerce

Canadian Imperial Bank of Commerce (NYSE: CM), commonly known as CIBC, is a major Canadian financial institution headquartered in Toronto. Formed in 1961 through the merger of the Canadian Bank of Commerce and the Imperial Bank of Canada, CIBC is one of Canada’s largest banks and provides a broad range of banking and financial services to retail, small business, commercial and institutional clients.

CIBC’s activities span personal and business banking, wealth management, capital markets and corporate banking.