Canadian Imperial Bank of Commerce (TSE:CM) Declares Dividend Increase – $0.97 Per Share

Canadian Imperial Bank of Commerce (TSE:CM) (NYSE:CM) declared a quarterly dividend on Thursday, December 5th,RTT News reports. Stockholders of record on Friday, December 27th will be given a dividend of 0.97 per share on Tuesday, January 28th. This represents a $3.88 annualized dividend and a dividend yield of ∞. This is a positive change from Canadian Imperial Bank of Commerce’s previous quarterly dividend of $0.90.

Canadian Imperial Bank of Commerce Price Performance

Canadian Imperial Bank of Commerce has a fifty-two week low of C$57.48 and a fifty-two week high of C$94.20. The business’s 50 day moving average is C$86.88 and its 200 day moving average is C$76.03. The firm has a market cap of C$88.39 billion, a P/E ratio of 12.96, a P/E/G ratio of 3.03 and a beta of 1.12.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the stock. Canaccord Genuity Group lifted their price objective on shares of Canadian Imperial Bank of Commerce from C$81.00 to C$92.00 in a report on Tuesday, November 19th. Cormark upgraded shares of Canadian Imperial Bank of Commerce from a “market perform” rating to a “buy” rating and increased their price target for the company from C$75.00 to C$83.00 in a research note on Friday, August 30th. Desjardins lifted their price target on Canadian Imperial Bank of Commerce from C$77.00 to C$83.00 and gave the stock a “buy” rating in a report on Friday, August 30th. TD Securities boosted their target price on Canadian Imperial Bank of Commerce from C$91.00 to C$98.00 in a report on Friday, November 15th. Finally, Barclays lifted their price objective on shares of Canadian Imperial Bank of Commerce from C$71.00 to C$77.00 and gave the stock an “underweight” rating in a research report on Friday, August 30th. One analyst has rated the stock with a sell rating, three have given a hold rating and eight have assigned a buy rating to the company. According to MarketBeat, Canadian Imperial Bank of Commerce has an average rating of “Moderate Buy” and a consensus target price of C$87.17.

Insiders Place Their Bets

In other Canadian Imperial Bank of Commerce news, Director Harry Kenneth Culham sold 800 shares of the company’s stock in a transaction dated Monday, September 30th. The stock was sold at an average price of C$83.20, for a total value of C$66,560.00. Also, Senior Officer Shawn Beber sold 10,000 shares of the stock in a transaction dated Tuesday, September 10th. The shares were sold at an average price of C$81.80, for a total value of C$817,960.00. Insiders sold a total of 197,527 shares of company stock valued at $16,381,457 in the last 90 days. Corporate insiders own 0.02% of the company’s stock.

Canadian Imperial Bank of Commerce Company Profile

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 Canadian Personal and Business Banking; Canadian Commercial Banking and Wealth Management; U.S.