Canadian Imperial Bank of Commerce (CM) to Issue Quarterly Dividend of $0.97 on April 28th

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

Canadian Imperial Bank of Commerce Stock Up 1.4 %

Shares of TSE:CM opened at C$87.67 on Friday. Canadian Imperial Bank of Commerce has a 52-week low of C$63.20 and a 52-week high of C$95.50. The stock has a market cap of C$82.02 billion, a P/E ratio of 11.58, a price-to-earnings-growth ratio of 3.03 and a beta of 1.12. The business’s 50 day moving average is C$89.71 and its 200 day moving average is C$85.86.

Analysts Set New Price Targets

CM has been the topic of several recent research reports. Cormark increased their target price on Canadian Imperial Bank of Commerce from C$99.00 to C$104.00 in a research report on Friday, December 6th. Canaccord Genuity Group increased their target price on Canadian Imperial Bank of Commerce from C$92.00 to C$99.00 in a research report on Friday, December 6th. BMO Capital Markets increased their target price on Canadian Imperial Bank of Commerce from C$81.00 to C$99.00 in a research report on Monday, November 18th. UBS Group dropped their target price on Canadian Imperial Bank of Commerce from C$102.00 to C$96.00 in a research report on Friday, February 14th. Finally, Scotiabank dropped their target price on 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 issued a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of C$93.50.

Insider Activity at Canadian Imperial Bank of Commerce

In related news, Senior Officer Susan Rimmer sold 1,000 shares of Canadian Imperial Bank of Commerce stock in a transaction dated Thursday, December 19th. The stock was sold at an average price of C$93.14, for a total value of C$93,140.00. Also, Senior Officer Frank Guse sold 5,360 shares of Canadian Imperial Bank of Commerce stock in a transaction dated Monday, December 9th. The stock was sold at an average price of C$93.28, for a total value of C$499,985.62. Following the completion of the sale, the insider now owns 440 shares in the company, valued at approximately C$41,043.60. The trade was a 92.41 % decrease in their ownership of the stock. Insiders sold a total of 177,012 shares of company stock worth $16,687,218 in the last 90 days. Corporate insiders own 0.02% of the company’s stock.

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.