Canadian Imperial Bank of Commerce (CM) to Issue Quarterly Dividend of $1.36 on October 29th

Canadian Imperial Bank of Commerce (TSE:CM) (NYSE:CM) announced a quarterly dividend on Thursday, August 23rd, RTT News reports. Investors 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 annualized dividend 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.

TSE:CM opened at C$123.23 on Wednesday. Canadian Imperial Bank of Commerce has a fifty-two week low of C$108.38 and a fifty-two week high of C$125.21.

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

A number of research firms have recently commented on CM. TD Securities boosted 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 boosted their price target for the stock from C$125.00 to C$130.00 in a report on Wednesday, June 6th. National Bank Financial boosted 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 boosted 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 given a buy rating to the stock. The company presently has an average rating of “Buy” and a consensus price target of C$134.18.

In other Canadian Imperial Bank of Commerce news, insider John Hountalas sold 9,033 shares of the company’s stock in a transaction dated Monday, September 24th. The stock was sold at an average price of C$124.55, for a total value of C$1,125,060.15. Also, Director Katharine Berghuis Stevenson bought 1,200 shares of the stock in a transaction on Thursday, August 30th. The stock was purchased at an average cost of C$122.80 per share, with a total value of C$147,360.00.

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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