Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) declared a quarterly dividend on Thursday, November 30th, Zacks reports. Stockholders of record on Thursday, December 28th will be paid a dividend of 1.011 per share by the bank on Monday, January 29th. This represents a $4.04 annualized dividend and a dividend yield of 4.41%. The ex-dividend date of this dividend is Wednesday, December 27th.

Canadian Imperial Bank of Commerce has decreased its dividend payment by an average of 1.4% annually over the last three years. Canadian Imperial Bank of Commerce has a payout ratio of 61.1% indicating that its dividend is sufficiently covered by earnings. Analysts expect Canadian Imperial Bank of Commerce to earn $8.62 per share next year, which means the company should continue to be able to cover its $5.20 annual dividend with an expected future payout ratio of 60.3%.

Shares of Canadian Imperial Bank of Commerce (CM) traded up $2.48 on Friday, hitting $91.76. 1,001,000 shares of the stock traded hands, compared to its average volume of 755,768. Canadian Imperial Bank of Commerce has a 12 month low of $77.20 and a 12 month high of $92.22. The firm has a market cap of $39,149.34, a PE ratio of 10.90, a P/E/G ratio of 3.62 and a beta of 1.11. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.96 and a quick ratio of 0.96.

Several research analysts have commented on the stock. Credit Suisse Group upgraded shares of Canadian Imperial Bank of Commerce from a “neutral” rating to an “outperform” rating and raised their target price for the stock from $116.00 to $125.00 in a report on Friday. Scotiabank reiterated a “hold” rating and issued a $128.00 target price on shares of Canadian Imperial Bank of Commerce in a report on Wednesday, November 22nd. Zacks Investment Research cut shares of Canadian Imperial Bank of Commerce from a “hold” rating to a “sell” rating in a report on Wednesday, November 8th. Citigroup cut shares of Canadian Imperial Bank of Commerce from a “buy” rating to a “neutral” rating and set a $120.00 target price for the company. in a report on Wednesday, October 25th. Finally, Canaccord Genuity reiterated a “buy” rating and issued a $121.00 target price on shares of Canadian Imperial Bank of Commerce in a report on Thursday. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and three have given a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average price target of $114.00.

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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.

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

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