Canadian Imperial Bank of Commerce (CM) Raises Dividend to $1.33 Per Share

Canadian Imperial Bank of Commerce (TSE:CM) (NYSE:CM) announced a quarterly dividend on Thursday, February 22nd, RTT News reports. Stockholders of record on Wednesday, March 28th will be paid a dividend of 1.33 per share on Friday, April 27th. This represents a $5.32 dividend on an annualized basis and a dividend yield of 4.83%. The ex-dividend date is Tuesday, March 27th. This is an increase from Canadian Imperial Bank of Commerce’s previous quarterly dividend of $1.30.

Shares of TSE:CM traded down C$0.52 during trading on Friday, reaching C$110.11. 993,889 shares of the stock were exchanged, compared to its average volume of 1,390,367. Canadian Imperial Bank of Commerce has a 12-month low of C$103.84 and a 12-month high of C$124.37.

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Canadian Imperial Bank of Commerce (TSE:CM) (NYSE:CM) last issued its earnings results on Thursday, February 22nd. The company reported C$3.18 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of C$2.83 by C$0.35. The business had revenue of C$4.46 billion during the quarter, compared to analysts’ expectations of C$4.25 billion. Canadian Imperial Bank of Commerce had a return on equity of 18.90% and a net margin of 31.76%.



In other Canadian Imperial Bank of Commerce news, Director Katharine Berghuis Stevenson bought 1,500 shares of the business’s stock in a transaction on Tuesday, February 27th. The shares were bought at an average cost of C$119.17 per share, with a total value of C$178,755.00.

Several research firms recently commented on CM. BMO Capital Markets boosted their price target on Canadian Imperial Bank of Commerce from C$126.00 to C$130.00 and gave the stock a “market perform” rating in a research report on Friday, February 23rd. Canaccord Genuity set a C$131.00 price target on Canadian Imperial Bank of Commerce in a research report on Friday, February 23rd. Royal Bank of Canada boosted their price target on Canadian Imperial Bank of Commerce from C$138.00 to C$141.00 and gave the stock a “sector perform” rating in a research report on Friday, February 23rd. Desjardins boosted their price target on Canadian Imperial Bank of Commerce from C$133.00 to C$134.00 in a research report on Friday, February 23rd. Finally, National Bank Financial upped their target price on Canadian Imperial Bank of Commerce from C$133.00 to C$136.00 and gave the company an “outperform” rating in a research report on Friday, February 23rd. Four equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. The company currently has an average rating of “Buy” and a consensus price target of C$132.00.

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Canadian Imperial Bank of Commerce Company Profile

Canadian Imperial Bank of Commerce, a diversified financial institution, provides various financial products and services to individual, small business, commercial, corporate, 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.

Dividend History for Canadian Imperial Bank of Commerce (TSE:CM)

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