Canadian Imperial Bank of Commerce (CM) to Issue Quarterly Dividend of $1.40

Canadian Imperial Bank of Commerce (TSE:CM) (NYSE:CM) declared a quarterly dividend on Wednesday, May 22nd, RTT News reports. Shareholders of record on Friday, June 28th will be paid a dividend of 1.40 per share on Monday, July 29th. This represents a $5.60 annualized dividend and a yield of 4.99%.

Shares of TSE:CM opened at C$112.12 on Wednesday. The stock has a market capitalization of $49.11 billion and a price-to-earnings ratio of 9.92. Canadian Imperial Bank of Commerce has a 52-week low of C$99.51 and a 52-week high of C$125.21.

Canadian Imperial Bank of Commerce (TSE:CM) (NYSE:CM) last announced its earnings results on Thursday, February 28th. The company reported C$3.01 earnings per share (EPS) for the quarter, missing the consensus estimate of C$3.12 by C($0.11). The business had revenue of C$4.57 billion during the quarter, compared to analyst estimates of C$4.62 billion. As a group, equities analysts anticipate that Canadian Imperial Bank of Commerce will post 13.1011900247606 EPS for the current fiscal year.

CM has been the topic of several recent research reports. National Bank Financial decreased their price objective on Canadian Imperial Bank of Commerce from C$122.00 to C$120.00 and set a “sector perform” rating on the stock in a research note on Friday, March 1st. CSFB set a C$116.00 price objective on Canadian Imperial Bank of Commerce and gave the stock a “neutral” rating in a research note on Thursday, May 16th. TD Securities decreased their price objective on Canadian Imperial Bank of Commerce from C$140.00 to C$135.00 and set a “buy” rating on the stock in a research note on Friday, March 1st. Finally, Canaccord Genuity raised their price objective on Canadian Imperial Bank of Commerce from C$115.00 to C$121.00 in a research note on Wednesday, May 15th. Five research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average target price of C$127.00.

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About Canadian Imperial Bank of Commerce

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 Small 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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