Canadian Imperial Bank of Commerce (TSE:CM) Announces Quarterly Dividend of $0.97

Canadian Imperial Bank of Commerce (TSE:CM - Get Free Report) NYSE: CM announced a quarterly dividend on Thursday, February 27th, RTT News reports. Shareholders of record on Friday, March 28th will be given a dividend of 0.97 per share on Monday, April 28th. This represents a $3.88 dividend on an annualized basis and a yield of 4.48%.

Canadian Imperial Bank of Commerce Stock Performance

Shares of TSE CM traded down C$1.00 during mid-day trading on Monday, hitting C$86.67. The stock had a trading volume of 4,331,604 shares, compared to its average volume of 3,303,711. The firm has a market cap of C$81.09 billion, a PE ratio of 11.45, a PEG ratio of 3.03 and a beta of 1.12. The company has a 50 day moving average of C$89.71 and a two-hundred day moving average of C$85.86. Canadian Imperial Bank of Commerce has a twelve month low of C$64.02 and a twelve month high of C$95.50.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on CM. National Bankshares raised their price objective on shares of Canadian Imperial Bank of Commerce from C$86.00 to C$94.00 in a research note on Wednesday, November 20th. Royal Bank of Canada raised their price target on shares of Canadian Imperial Bank of Commerce from C$103.00 to C$108.00 in a research report on Friday. Scotiabank decreased their price objective on shares of Canadian Imperial Bank of Commerce from C$114.00 to C$95.00 and set an "outperform" rating for the company in a research report on Thursday, February 20th. BMO Capital Markets increased their target price on shares of Canadian Imperial Bank of Commerce from C$81.00 to C$99.00 in a research note on Monday, November 18th. Finally, TD Securities cut their price target on shares of Canadian Imperial Bank of Commerce from C$100.00 to C$99.00 and set a "buy" rating for the company in a report on Friday. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and nine have issued a buy rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of C$93.50.

Insider Activity at Canadian Imperial Bank of Commerce

In other news, Director Victor George Dodig sold 150,000 shares of the company's stock in a transaction on Tuesday, December 10th. The stock was sold at an average price of C$94.22, for a total transaction of C$14,132,865.00. Also, Senior Officer Frank Guse sold 5,360 shares of Canadian Imperial Bank of Commerce stock in a transaction on Monday, December 9th. The shares were sold at an average price of C$93.28, for a total value of C$499,985.62. Following the completion of the transaction, the insider now owns 440 shares of the company's stock, valued at approximately C$41,043.60. This trade represents a 92.41 % decrease in their ownership of the stock. In the last 90 days, insiders have sold 177,012 shares of company stock worth $16,687,218. 0.02% of the stock is currently owned by company insiders.

About Canadian Imperial Bank of Commerce

Canadian Imperial Bank of Commerce is Canada's fifth- largest bank, operating three business segments: retail and business banking, wealth management, and capital markets. It serves approximately 11 million personal banking and business customers, primarily in Canada.