Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) declared a quarterly dividend on Thursday, November 30th, Zacks reports. Stockholders of record on Thursday, December 28th will be given a dividend of 1.011 per share by the bank on Monday, January 29th. This represents a $4.04 annualized dividend and a dividend yield of 4.10%. The ex-dividend date is Wednesday, December 27th.
Canadian Imperial Bank of Commerce has raised its dividend by an average of 2.4% annually over the last three years and has raised its dividend annually for the last 2 consecutive years. Canadian Imperial Bank of Commerce has a payout ratio of 59.3% indicating that its dividend is sufficiently covered by earnings. Analysts expect Canadian Imperial Bank of Commerce to earn $9.16 per share next year, which means the company should continue to be able to cover its $5.20 annual dividend with an expected future payout ratio of 56.8%.
Canadian Imperial Bank of Commerce (CM) traded up $0.41 on Friday, hitting $98.62. The stock had a trading volume of 347,785 shares, compared to its average volume of 449,318. The company has a market cap of $43,570.00, a price-to-earnings ratio of 10.96, a price-to-earnings-growth ratio of 4.85 and a beta of 1.12. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 0.11. Canadian Imperial Bank of Commerce has a 52-week low of $77.20 and a 52-week high of $100.01.
CM has been the subject of several recent research reports. Canaccord Genuity reissued a “buy” rating and issued a $121.00 price target on shares of Canadian Imperial Bank of Commerce in a research report on Thursday, November 30th. Zacks Investment Research raised Canadian Imperial Bank of Commerce from a “sell” rating to a “hold” rating in a research report on Monday, December 4th. Scotiabank reaffirmed a “hold” rating and set a $128.00 target price on shares of Canadian Imperial Bank of Commerce in a research report on Wednesday, November 22nd. Citigroup lowered Canadian Imperial Bank of Commerce from a “buy” rating to a “neutral” rating and set a $120.00 target price on the stock. in a research report on Wednesday, October 25th. Finally, Credit Suisse Group raised Canadian Imperial Bank of Commerce from a “neutral” rating to an “outperform” rating and upped their target price for the company from $116.00 to $125.00 in a research report on Friday, December 1st. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and four have issued a buy rating to the company. The company has an average rating of “Hold” and an average target price of $114.00.
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About Canadian Imperial Bank of Commerce
Canadian Imperial Bank of Commerce (CIBC) is a global financial institution. The Company provides a range of financial products and services to approximately 11 million individual, small business, commercial, corporate and institutional clients in Canada and around the world. The Company operates through three segments: Retail and Business Banking, Wealth Management and Capital Markets.
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