Canadian Imperial Bank of Commerce (NYSE:CM) Declares Quarterly Dividend of $0.67

Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) declared a quarterly dividend on Friday, February 28th, Wall Street Journal reports. Shareholders of record on Friday, March 28th will be given a dividend of 0.6723 per share by the bank on Monday, April 28th. This represents a $2.69 annualized dividend and a yield of 4.64%. The ex-dividend date of this dividend is Friday, March 28th.

Canadian Imperial Bank of Commerce has raised its dividend payment by an average of 7.0% per year over the last three years and has raised its dividend annually for the last 14 consecutive years. Canadian Imperial Bank of Commerce has a dividend payout ratio of 45.3% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Canadian Imperial Bank of Commerce to earn $5.98 per share next year, which means the company should continue to be able to cover its $2.71 annual dividend with an expected future payout ratio of 45.3%.

Canadian Imperial Bank of Commerce Stock Up 0.7 %

CM opened at $57.99 on Wednesday. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.05 and a quick ratio of 1.05. Canadian Imperial Bank of Commerce has a 12 month low of $46.50 and a 12 month high of $67.45. The stock has a market capitalization of $54.51 billion, a P/E ratio of 10.84, a P/E/G ratio of 1.62 and a beta of 1.07. The business has a 50 day simple moving average of $60.35 and a 200-day simple moving average of $62.13.

Analyst Ratings Changes

A number of research firms have commented on CM. Royal Bank of Canada raised Canadian Imperial Bank of Commerce from a “sector perform” rating to an “outperform” rating and raised their target price for the company from $97.00 to $103.00 in a report on Wednesday, January 8th. StockNews.com upgraded shares of Canadian Imperial Bank of Commerce from a “sell” rating to a “hold” rating in a research note on Friday, February 14th. Two equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $92.00.

About Canadian Imperial Bank of Commerce

Canadian Imperial Bank of Commerce, a diversified financial institution, provides various financial products and services to personal, business, public sector, and institutional clients in Canada, the United States, and internationally. The company operates through Canadian Personal and Business Banking; Canadian Commercial Banking and Wealth Management; U.S.