Canadian Imperial Bank of Commerce to issue quarterly dividend of $ 1.16 (NYSE: CM)

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Canadian Imperial Bank of Commerce (NYSE: CM) (TSE: CM) declared a quarterly dividend on Friday, August 27, reports the Wall Street Journal. Shareholders of record on Tuesday September 28 will receive a dividend of 1.1561 per share from the bank on Thursday October 28. This represents a dividend of $ 4.62 on an annualized basis and a dividend yield of 3.98%. The ex-dividend date of this dividend is Monday, September 27.

The Canadian Imperial Bank of Commerce has increased its dividend by 8.5% over the past three years and has increased its dividend annually for the past 1 consecutive year.

CM shares traded down $ 0.64 during trading hours on Friday, reaching $ 116.09. The stock had a trading volume of 427,018 shares, compared to its average volume of 495,904. The company has a leverage ratio of 0.14, a quick ratio of 1.03 and a current ratio of 1. 03. The company has a market cap of $ 52.21 billion, a price / earnings ratio of 12.77, a P / E / G ratio of 0.98, and a beta of 1.13. The stock has a fifty-day simple moving average of $ 115.69. The Canadian Imperial Bank of Commerce has a 12-month low of $ 72.07 and a 12-month high of $ 121.11.

The Canadian Imperial Bank of Commerce (NYSE: CM) (TSE: CM) last reported its results on Wednesday, August 25. The bank reported earnings per share of $ 3.93 for the quarter, beating the consensus estimate of $ 2.65 by $ 1.28. The Canadian Imperial Bank of Commerce achieved a return on equity of 15.27% and a net margin of 23.76%. During the same period last year, the company posted EPS of $ 2.71. As a group, sell-side analysts predict that the Canadian Imperial Bank of Commerce will post 10.9 EPS for the current year.

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Several brokerage firms have weighed on CM recently. BMO Capital Markets raised its target price on Canadian Imperial Bank of Commerce from C $ 160.00 to C $ 165.00 and rated the stock “outperform” in a research report on Friday. Zacks Investment Research downgraded the Canadian Imperial Bank of Commerce from a “buy” rating to a “hold” rating in a research report released on Wednesday, August 11. Scotiabank raised its price target for Canadian Imperial Bank of Commerce from C $ 166.00 to C $ 168.00 and gave the company an “outperformance” rating in a research report on Friday. Barclays raised its price target on the Canadian Imperial Bank of Commerce from $ 150.00 to $ 157.00 and gave the company an “overweight” rating in a research report published on Friday August 13th. Finally, Credit Suisse Group raised its price target on the Canadian Imperial Bank of Commerce from $ 149.00 to $ 156.00 and gave the company a “neutral” rating in a research report on Friday. Three research analysts rated the stock with a conservation rating and nine gave the company’s stock a buy rating. The stock has an average rating of “Buy” and an average price target of $ 148.23.

About the Canadian Imperial Bank of Commerce

The Canadian Imperial Bank of Commerce is a financial institution that provides banking and wealth management services. It operates in the following segments: Personal and Small Business Banking in Canada, Commercial Banking in Canada and Wealth Management, Commercial Banking and Wealth Management in the United States, Capital Markets and Corporate and Others.

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Canadian Imperial Bank of Commerce (NYSE: CM) Dividend History

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