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

Canadian Imperial Bank of Commerce (TSE:CM) (NYSE:CM) announced a quarterly dividend on Thursday, February 27th, RTT News reports. Investors 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 yield of 4.47%.

Canadian Imperial Bank of Commerce Stock Performance

Shares of CM stock opened at C$86.78 on Thursday. The firm has a market capitalization of C$81.19 billion, a PE ratio of 11.46, a price-to-earnings-growth ratio of 3.03 and a beta of 1.12. Canadian Imperial Bank of Commerce has a 1 year low of C$62.59 and a 1 year high of C$95.50. The stock has a fifty day moving average of C$89.91 and a two-hundred day moving average of C$85.62.

Insider Buying and Selling

In other news, Senior Officer Robert Sedran sold 20,652 shares of the firm’s stock in a transaction on Thursday, December 12th. The stock was sold at an average price of C$94.97, for a total value of C$1,961,227.51. Also, Senior Officer Frank Guse sold 5,360 shares of the company’s stock in a transaction on Monday, December 9th. The shares were sold at an average price of C$93.28, for a total value of C$499,985.62. Following the transaction, the insider now directly owns 440 shares in the company, valued at C$41,043.60. The trade was a 92.41 % decrease in their ownership of the stock. In the last quarter, insiders have sold 177,012 shares of company stock valued at $16,687,218. 0.02% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several equities analysts have commented on the stock. Scotiabank lowered their target price on shares of Canadian Imperial Bank of Commerce from C$114.00 to C$95.00 and set an “outperform” rating on the stock in a research note on Thursday, February 20th. National Bankshares raised their price objective on shares of Canadian Imperial Bank of Commerce from C$86.00 to C$94.00 in a research note on Wednesday, November 20th. BMO Capital Markets upped 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. Canaccord Genuity Group lifted their price target on Canadian Imperial Bank of Commerce from C$92.00 to C$99.00 in a research report on Friday, December 6th. Finally, UBS Group cut their price objective on Canadian Imperial Bank of Commerce from C$102.00 to C$96.00 in a report on Friday, February 14th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and nine have given a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of C$93.00.

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.