Canadian Imperial Bank of Commerce (NYSE:cm) declared a dividend on Thursday, August 25th. Shareholders of record on Wednesday, September 28th will be given a dividend of 0.928 per share on Friday, October 28th. The ex-dividend date is Monday, September 26th. This is an increase from Canadian Imperial Bank of Commerce’s previous dividend of $0.86.

Several equities research analysts have recently weighed in on CM shares. Royal Bank Of Canada increased their price target on Canadian Imperial Bank of Commerce from $104.00 to $112.00 and gave the company a “sector perform” rating in a research note on Friday, August 26th. Scotiabank reissued a “sector perform” rating and issued a $105.00 price target (up previously from $102.00) on shares of Canadian Imperial Bank of Commerce in a research note on Monday, August 29th. Canaccord Genuity reissued a “hold” rating on shares of Canadian Imperial Bank of Commerce in a research note on Thursday, May 26th. BMO Capital Markets reissued a “market perform” rating and issued a $103.00 price target (up previously from $97.00) on shares of Canadian Imperial Bank of Commerce in a research note on Friday, August 26th. Finally, Desjardins reissued a “buy” rating and issued a $110.00 price target (up previously from $109.00) on shares of Canadian Imperial Bank of Commerce in a research note on Monday, August 29th. Five equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and four have given a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average target price of $101.00.

Large investors have recently added to or reduced their stakes in the stock. Raymond James & Associates raised its stake in Canadian Imperial Bank of Commerce by 14.5% in the second quarter. Raymond James & Associates now owns 14,065 shares of the company’s stock worth $1,054,000 after buying an additional 1,783 shares during the period. FMR LLC raised its position in Canadian Imperial Bank of Commerce by 1.4% in the second quarter. FMR LLC now owns 613,030 shares of the company’s stock worth $46,045,000 after buying an additional 8,600 shares during the last quarter. Baird Financial Group Inc. acquired a new position in Canadian Imperial Bank of Commerce during the second quarter worth approximately $1,462,000. Pacad Investment Ltd. acquired a new position in Canadian Imperial Bank of Commerce during the second quarter worth approximately $593,000. Finally, FIL Ltd raised its position in Canadian Imperial Bank of Commerce by 69.5% in the second quarter. FIL Ltd now owns 219,103 shares of the company’s stock worth $16,457,000 after buying an additional 89,856 shares during the last quarter. 52.59% of the stock is owned by institutional investors.

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Canadian Imperial Bank of Commerce (NYSE:CM) opened at 76.65 on Wednesday. The stock has a 50 day moving average price of $77.90 and a 200-day moving average price of $76.99. The company has a market cap of $30.26 billion, a price-to-earnings ratio of 9.80 and a beta of 1.03. Canadian Imperial Bank of Commerce has a 12-month low of $56.29 and a 12-month high of $82.60.

Canadian Imperial Bank of Commerce (NYSE:CM) last released its earnings results on Thursday, August 25th. The company reported $2.67 earnings per share for the quarter, beating analysts’ consensus estimates of $2.35 by $0.32. Canadian Imperial Bank of Commerce had a return on equity of 18.83% and a net margin of 22.51%. During the same period last year, the firm posted $2.45 earnings per share. On average, analysts predict that Canadian Imperial Bank of Commerce will post $7.66 EPS for the current fiscal year.

Canadian Imperial Bank of Commerce Company Profile

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.

5 Day Chart for NYSE:CM

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