Canadian Imperial Bank of Commerce Declares Quarterly Dividend of $0.97 (TSE:CM)

Canadian Imperial Bank of Commerce (TSE:CM) (NYSE:CM) announced a quarterly dividend on Thursday, February 27th, RTT News reports. Stockholders of record on Friday, March 28th will be given a dividend of 0.97 per share on Monday, April 28th. This represents a $3.88 annualized dividend and a dividend yield of 4.47%.

Canadian Imperial Bank of Commerce Trading Up 0.6 %

TSE:CM opened at C$86.78 on Thursday. The firm’s fifty day simple moving average is C$89.91 and its 200 day simple moving average is C$85.62. Canadian Imperial Bank of Commerce has a twelve month low of C$62.59 and a twelve month high of C$95.50. The firm has a market capitalization of C$81.19 billion, a price-to-earnings ratio of 11.46, a PEG ratio of 3.03 and a beta of 1.12.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on CM shares. Cormark increased their target price on Canadian Imperial Bank of Commerce from C$99.00 to C$104.00 in a research note on Friday, December 6th. National Bankshares increased their price objective on shares of Canadian Imperial Bank of Commerce from C$86.00 to C$94.00 in a research report on Wednesday, November 20th. Royal Bank of Canada upgraded shares of Canadian Imperial Bank of Commerce from a “sector perform” rating to an “outperform” rating and upped their target price for the company from C$97.00 to C$103.00 in a research note on Wednesday, January 8th. BMO Capital Markets lifted their price target on shares of Canadian Imperial Bank of Commerce from C$81.00 to C$99.00 in a research note on Monday, November 18th. Finally, Scotiabank decreased their price objective on shares of Canadian Imperial Bank of Commerce from C$114.00 to C$95.00 and set an “outperform” rating for the company in a research report on Thursday, February 20th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of C$93.00.

Insider Activity

In other news, Director Victor George Dodig sold 150,000 shares of the stock in a transaction that occurred on Tuesday, December 10th. The stock was sold at an average price of C$94.22, for a total transaction of C$14,132,865.00. Also, Senior Officer Frank Guse sold 5,360 shares of the firm’s stock in a transaction that occurred on 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 directly owns 440 shares in the company, valued at approximately C$41,043.60. This trade represents a 92.41 % decrease in their position. In the last ninety days, insiders sold 177,012 shares of company stock worth $16,687,218. 0.02% of the stock is currently owned by insiders.

Canadian Imperial Bank of Commerce Company Profile

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.