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

Key Points

• Canadian Imperial Bank of Commerce announced a quarterly dividend of $0.97 per share, which will be paid on October 28th to investors of record.
• The bank's annualized dividend yield is approximately 3.5%, with recent stock price performance showing a 12-month low of C$76.17 and a high of C$113.51.
• Several analysts have increased their price targets for the stock, with a consensus rating of "Hold" and an average target price of C$108.25.

Canadian Imperial Bank of Commerce (TSE:CM - Get Free Report) NYSE: CM announced a quarterly dividend on Monday, September 29th, TickerTech Dividends reports. Investors of record on Tuesday, October 28th will be given a dividend of 0.97 per share on Tuesday, October 28th. This represents a c) annualized dividend and a yield of 3.5%. The ex-dividend date of this dividend is Monday, September 29th.

Canadian Imperial Bank of Commerce Price Performance

CM opened at C$112.44 on Friday. The stock has a market capitalization of C$104.52 billion, a PE ratio of 13.60, a P/E/G ratio of 3.03 and a beta of 1.33. The firm's fifty day moving average price is C$104.65 and its 200 day moving average price is C$94.52. Canadian Imperial Bank of Commerce has a 12-month low of C$76.17 and a 12-month high of C$113.51.

Analyst Ratings Changes

Several research firms recently issued reports on CM. BMO Capital Markets upped their price target on shares of Canadian Imperial Bank of Commerce from C$107.00 to C$112.00 in a report on Friday, August 29th. Canaccord Genuity Group increased their target price on shares of Canadian Imperial Bank of Commerce from C$102.00 to C$111.00 and gave the stock a "hold" rating in a report on Friday, August 29th. Royal Bank Of Canada increased their target price on shares of Canadian Imperial Bank of Commerce from C$112.00 to C$113.00 and gave the stock an "outperform" rating in a report on Friday, August 29th. Barclays increased their target price on shares of Canadian Imperial Bank of Commerce from C$96.00 to C$106.00 and gave the stock an "underweight" rating in a report on Friday, August 29th. Finally, TD Securities increased their target price on shares of Canadian Imperial Bank of Commerce from C$110.00 to C$117.00 and gave the stock a "buy" rating in a report on Friday, August 29th. Four equities research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price of C$108.25.

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.

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