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

Canadian Imperial Bank of Commerce (TSE:CM - Get Free Report) NYSE: CM declared a quarterly dividend on Thursday, December 5th,RTT News reports. Shareholders of record on Friday, December 27th will be paid a dividend of 0.97 per share on Tuesday, January 28th. This represents a $3.88 annualized dividend and a yield of 4.15%. This is an increase from Canadian Imperial Bank of Commerce's previous quarterly dividend of $0.90.

Canadian Imperial Bank of Commerce Trading Up 4.4 %

Shares of Canadian Imperial Bank of Commerce stock traded up C$3.97 during mid-day trading on Thursday, reaching C$93.54. 7,801,510 shares of the stock were exchanged, compared to its average volume of 3,711,293. The firm has a 50-day simple moving average of C$86.88 and a 200 day simple moving average of C$76.03. The company has a market cap of C$88.39 billion, a price-to-earnings ratio of 12.96, a price-to-earnings-growth ratio of 3.03 and a beta of 1.12. Canadian Imperial Bank of Commerce has a fifty-two week low of C$57.48 and a fifty-two week high of C$94.20.

Analyst Ratings Changes

Several brokerages have issued reports on CM. Desjardins lifted their price target on shares of Canadian Imperial Bank of Commerce from C$77.00 to C$83.00 and gave the company a "buy" rating in a research note on Friday, August 30th. Cormark raised shares of Canadian Imperial Bank of Commerce from a "market perform" rating to a "buy" rating and increased their price objective for the stock from C$75.00 to C$83.00 in a research report on Friday, August 30th. Jefferies Financial Group cut their price target on shares of Canadian Imperial Bank of Commerce from C$79.00 to C$78.00 and set a "buy" rating on the stock in a report on Monday, August 12th. National Bankshares upped their price target on shares of Canadian Imperial Bank of Commerce from C$86.00 to C$94.00 in a report on Wednesday, November 20th. Finally, TD Securities upped their price objective on shares of Canadian Imperial Bank of Commerce from C$91.00 to C$98.00 in a research note on Friday, November 15th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and eight have given a buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of C$87.17.

Insider Buying and Selling

In related news, Senior Officer Shawn Beber sold 10,000 shares of the business's stock in a transaction dated Tuesday, September 10th. The shares were sold at an average price of C$81.80, for a total transaction of C$817,960.00. Also, Director Harry Kenneth Culham sold 50,000 shares of the company's stock in a transaction on Wednesday, September 25th. The shares were sold at an average price of C$83.42, for a total value of C$4,170,750.00. In the last 90 days, insiders have sold 197,527 shares of company stock valued at $16,381,457. Corporate insiders own 0.02% of the company's stock.

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.