Canadian Imperial Bank of Commerce (NYSE:CM – Get Free Report) (TSE:CM) announced a quarterly dividend on Wednesday, August 26th. Stockholders of record on Monday, September 28th will be given a dividend of C$1.07 per share by the bank on Wednesday, October 28th. This represents a $4.28 annualized dividend and a dividend yield of 3.8%. The ex-dividend date of this dividend is Monday, September 28th.
Canadian Imperial Bank of Commerce has increased its dividend payment by an average of 0.0%annually 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 51.1% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Canadian Imperial Bank of Commerce to earn $8.13 per share next year, which means the company should continue to be able to cover its $3.09 annual dividend with an expected future payout ratio of 38.0%.
Canadian Imperial Bank of Commerce Stock Performance
Shares of Canadian Imperial Bank of Commerce stock opened at $113.63 on Friday. The firm’s fifty day simple moving average is $116.91 and its 200-day simple moving average is $111.21. Canadian Imperial Bank of Commerce has a 12 month low of $78.79 and a 12 month high of $124.86. The stock has a market capitalization of $103.73 billion, a price-to-earnings ratio of 15.17, a PEG ratio of 1.10 and a beta of 1.01. The company has a debt-to-equity ratio of 0.11, a current ratio of 1.05 and a quick ratio of 1.05.
Institutional Investors Weigh In On Canadian Imperial Bank of Commerce
A number of institutional investors have recently added to or reduced their stakes in the business. Cibc World Market Inc. purchased a new position in shares of Canadian Imperial Bank of Commerce during the 2nd quarter worth approximately $1,342,850,000. Bank of Nova Scotia purchased a new stake in shares of Canadian Imperial Bank of Commerce in the second quarter valued at approximately $1,297,567,000. Norges Bank acquired a new position in Canadian Imperial Bank of Commerce during the fourth quarter worth $958,383,000. Canada Pension Plan Investment Board acquired a new position in Canadian Imperial Bank of Commerce during the second quarter worth $927,219,000. Finally, Connor Clark & Lunn Investment Management Ltd. purchased a new position in Canadian Imperial Bank of Commerce in the second quarter worth $916,774,000. Hedge funds and other institutional investors own 49.88% of the company’s stock.
Canadian Imperial Bank of Commerce Company Profile
Canadian Imperial Bank of Commerce (CIBC) is a Canadian financial institution headquartered in Toronto, Ontario. The bank provides a broad range of financial products and services to individuals, businesses, institutions and government clients.
CIBC’s principal activities include personal and commercial banking, wealth management, investment banking and capital markets services. Its offerings include deposit accounts, mortgages, consumer and business lending, credit cards, investment advice, brokerage services, asset management, and corporate finance and advisory services.
The bank serves clients primarily in Canada and the United States through its Canadian banking operations, U.S.
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