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