Canadian Imperial Bank of Commerce Declares Quarterly Dividend of $0.92 (CM)
Canadian Imperial Bank of Commerce (NYSE:CM) announced a quarterly dividend on Friday, May 30th, AnalystRatingsNetwork.com reports. Shareholders of record on Friday, June 27th will be paid a dividend of 0.9209 per share on Monday, July 28th. This represents a $3.68 annualized dividend and a dividend yield of 4.17%. The ex-dividend date is Wednesday, June 25th.
A number of analysts have recently weighed in on CM shares. Analysts at Scotiabank cut their price target on shares of Canadian Imperial Bank of Commerce from C$104.00 to C$103.00 in a research note on Friday. They now have a “sector perform” rating on the stock. On a related note, analysts at Macquarie downgraded shares of Canadian Imperial Bank of Commerce from an “outperform” rating to a “neutral” rating in a research note on Friday. Finally, analysts at Canaccord Genuity initiated coverage on shares of Canadian Imperial Bank of Commerce in a research note on Thursday, May 1st. They set a “buy” rating and a $105.00 price target on the stock. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and five have assigned a buy rating to the stock. Canadian Imperial Bank of Commerce presently has an average rating of “Hold” and a consensus target price of $90.30.
Shares of Canadian Imperial Bank of Commerce (NYSE:CM) traded down 2.13% during mid-day trading on Friday, hitting $88.34. The stock had a trading volume of 340,384 shares. Canadian Imperial Bank of Commerce has a 1-year low of $69.92 and a 1-year high of $91.83. The stock’s 50-day moving average is $88.63 and its 200-day moving average is $84.88. The company has a market cap of $35.207 billion and a P/E ratio of 10.62.
Canadian Imperial Bank of Commerce (NYSE:CM) last announced its earnings results on Thursday, May 29th. The company reported $1.99 earnings per share for the quarter, beating the analysts’ consensus estimate of $1.90 by $0.09. On average, analysts predict that Canadian Imperial Bank of Commerce will post $8.61 earnings per share for the current fiscal year.
Canadian Imperial Bank of Commerce (NYSE:CM) is a global financial institution.
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