Canadian Imperial Bank of Commerce (TSE:CM) (NYSE:CM) announced a quarterly dividend on Thursday, December 1st. Investors of record on Wednesday, December 28th will be given a dividend of 1.24 per share on Friday, January 27th. This represents a $4.96 annualized dividend and a yield of 4.68%. This is an increase from Canadian Imperial Bank of Commerce’s previous quarterly dividend of $1.21.

Shares of Canadian Imperial Bank of Commerce (TSE:CM) opened at 105.98 on Thursday. The firm has a market capitalization of $41.84 billion and a price-to-earnings ratio of 10.29. Canadian Imperial Bank of Commerce has a 12-month low of $82.19 and a 12-month high of $106.28. The company has a 50-day moving average price of $101.56 and a 200 day moving average price of $101.07.

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

Several equities research analysts have issued reports on CM shares. Barclays PLC increased their price target on Canadian Imperial Bank of Commerce from C$87.00 to C$93.00 and gave the stock an “underperform” rating in a report on Wednesday, August 17th. Keefe, Bruyette & Woods increased their price target on Canadian Imperial Bank of Commerce from C$92.00 to C$97.00 in a report on Thursday, August 18th. Royal Bank Of Canada increased their price target on Canadian Imperial Bank of Commerce from C$104.00 to C$112.00 and gave the stock a “sector perform” rating in a report on Friday, August 26th. National Bank Financial increased their price target on Canadian Imperial Bank of Commerce from C$95.00 to C$98.00 and gave the stock an “underperform” rating in a report on Friday, August 26th. Finally, BMO Capital Markets reiterated a “market perform” rating and set a C$103.00 price objective on shares of Canadian Imperial Bank of Commerce in a report on Friday, August 26th. Four analysts have rated the stock with a sell rating, five have issued a hold rating and two have assigned a buy rating to the company. Canadian Imperial Bank of Commerce presently has a consensus rating of “Hold” and a consensus target price of C$106.00.

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About Canadian Imperial Bank of Commerce

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.

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