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

Canadian Imperial Bank of Commerce (TSE:CM - Get Free Report) NYSE: CM declared a quarterly dividend on Thursday, May 29th, RTT News reports. Shareholders of record on Friday, June 27th will be given a dividend of 0.97 per share on Monday, July 28th. This represents a $3.88 dividend on an annualized basis and a yield of 4.17%.

Canadian Imperial Bank of Commerce Stock Performance

TSE:CM traded down C$0.61 on Friday, reaching C$93.10. The company's stock had a trading volume of 4,676,438 shares, compared to its average volume of 3,891,508. Canadian Imperial Bank of Commerce has a 1-year low of C$64.47 and a 1-year high of C$96.45. The firm has a market cap of C$87.10 billion, a PE ratio of 12.30, a PEG ratio of 3.03 and a beta of 1.12. The business's 50-day moving average price is C$85.91 and its two-hundred day moving average price is C$87.84.

Insider Buying and Selling

In other Canadian Imperial Bank of Commerce news, Senior Officer Sandy Sharman sold 1,027 shares of the company's stock in a transaction that occurred on Friday, March 21st. The stock was sold at an average price of C$81.27, for a total value of C$83,464.29. 0.02% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of research analysts have issued reports on CM shares. National Bankshares set a C$95.00 target price on Canadian Imperial Bank of Commerce and gave the company an "outperform" rating in a research note on Thursday, May 22nd. Royal Bank of Canada set a C$108.00 price target on Canadian Imperial Bank of Commerce and gave the company an "outperform" rating in a report on Monday, March 17th. Canaccord Genuity Group cut their price target on Canadian Imperial Bank of Commerce from C$93.00 to C$92.00 in a report on Monday, May 12th. Scotiabank upgraded Canadian Imperial Bank of Commerce to a "strong-buy" rating in a report on Thursday, May 15th. Finally, Jefferies Financial Group lowered Canadian Imperial Bank of Commerce from a "buy" rating to a "hold" rating and cut their price target for the company from C$100.00 to C$89.00 in a report on Monday, April 21st. One investment analyst has rated the stock with a sell rating, two have given a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, Canadian Imperial Bank of Commerce has an average rating of "Moderate Buy" and an average target price of C$94.31.

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.