Canadian Imperial Bank of Commerce (CM) To Go Ex-Dividend on December 29th

Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) declared a quarterly dividend on Thursday, December 4th. Stockholders of record on Monday, December 29th will be given a dividend of 1.07 per share by the bank on Wednesday, January 28th. This represents a c) annualized dividend and a dividend yield of 4.7%. The ex-dividend date of this dividend is Monday, December 29th. This is a 10.3% increase from Canadian Imperial Bank of Commerce’s previous quarterly dividend of $0.97.

Canadian Imperial Bank of Commerce has raised its dividend by an average of 0.0%per year over the last three years and has raised its dividend every year for the last 14 years. Canadian Imperial Bank of Commerce has a payout ratio of 46.6% indicating that its dividend is sufficiently covered by earnings. 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 $2.82 annual dividend with an expected future payout ratio of 47.2%.

Canadian Imperial Bank of Commerce Price Performance

Shares of NYSE:CM opened at $91.22 on Friday. Canadian Imperial Bank of Commerce has a twelve month low of $53.62 and a twelve month high of $91.47. The firm has a market capitalization of $84.72 billion, a PE ratio of 14.98, a P/E/G ratio of 1.29 and a beta of 1.02. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 0.14. The company has a 50-day moving average price of $83.43 and a two-hundred day moving average price of $76.62.

Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) last issued its earnings results on Thursday, December 4th. The bank reported $1.57 EPS for the quarter, topping the consensus estimate of $1.49 by $0.08. Canadian Imperial Bank of Commerce had a return on equity of 15.06% and a net margin of 13.57%.The business had revenue of $5.41 billion during the quarter, compared to the consensus estimate of $5.23 billion. During the same quarter last year, the company earned $1.91 EPS. The firm’s revenue was up 14.5% compared to the same quarter last year. Equities analysts forecast that Canadian Imperial Bank of Commerce will post 5.5 EPS for the current year.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on CM. Wall Street Zen upgraded shares of Canadian Imperial Bank of Commerce from a “sell” rating to a “hold” rating in a research report on Monday, November 3rd. Royal Bank Of Canada increased their price objective on Canadian Imperial Bank of Commerce from $112.00 to $113.00 and gave the company an “outperform” rating in a research report on Friday, August 29th. Weiss Ratings restated a “buy (b)” rating on shares of Canadian Imperial Bank of Commerce in a report on Wednesday, October 8th. Finally, Raymond James Financial started coverage on shares of Canadian Imperial Bank of Commerce in a report on Tuesday, November 25th. They set a “market perform” rating on the stock. Four analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat.com, Canadian Imperial Bank of Commerce has a consensus rating of “Moderate Buy” and an average price target of $107.50.

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.