Canadian Imperial Bank of Commerce (TSE:CM) Declares Quarterly Dividend of $1.46

Canadian Imperial Bank of Commerce (TSE:CM) (NYSE:CM) announced a quarterly dividend on Thursday, August 26th, RTT News reports. Investors of record on Tuesday, September 28th will be paid a dividend of 1.46 per share on Thursday, October 28th. This represents a $5.84 dividend on an annualized basis and a yield of 4.00%. The ex-dividend date is Monday, September 27th.

Shares of CM stock opened at C$145.84 on Friday. Canadian Imperial Bank of Commerce has a 1-year low of C$96.42 and a 1-year high of C$152.84. The stock’s 50-day moving average is C$145.93 and its 200 day moving average is C$137.92. The company has a market cap of C$65.64 billion and a P/E ratio of 11.16.

CM has been the topic of a number of recent research reports. Credit Suisse Group reaffirmed a “buy” rating on shares of Canadian Imperial Bank of Commerce in a research report on Monday, August 30th. Royal Bank of Canada reissued a “$158.00” rating on shares of Canadian Imperial Bank of Commerce in a report on Friday, August 27th. CSFB raised their price target on Canadian Imperial Bank of Commerce from C$156.00 to C$157.00 in a report on Thursday, September 2nd. BMO Capital Markets reissued a “buy” rating on shares of Canadian Imperial Bank of Commerce in a report on Monday, August 30th. Finally, Cormark reissued a “buy” rating on shares of Canadian Imperial Bank of Commerce in a report on Monday, August 30th. Three research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Buy” and a consensus target price of C$160.65.

In related news, Director Harry Kenneth Culham sold 10,000 shares of Canadian Imperial Bank of Commerce stock in a transaction that occurred on Tuesday, September 7th. The stock was sold at an average price of C$146.75, for a total transaction of C$1,467,500.00. Following the completion of the transaction, the director now directly owns 2,330 shares in the company, valued at C$341,927.50. Over the last quarter, insiders have sold 20,000 shares of company stock valued at $2,939,275.

Canadian Imperial Bank of Commerce Company Profile

Canadian Imperial Bank of Commerce, a diversified financial institution, provides various financial products and services to personal, business, public sector, and institutional clients in Canada, the United States, and internationally. The company operates through four strategic business units: Canadian Personal and 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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