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Canadian Imperial Bank of Commerce (NYSE: CM) plans to increase its dividend – $ 1.17 per share

Canadian Imperial Commercial Bank (NYSE: CM) (TSE: CM) decided on a quarterly dividend on Friday, February 26th, reports the Wall Street Journal. Shareholders of record on Monday March 29th will receive a dividend of 1.1669 per share from the bank on Wednesday April 28th. This equates to an annualized dividend of $ 4.67 and a dividend yield of 5.06%. The ex-dividend date of this dividend is Friday March 26th. This is an increase from the Canadian Imperial Bank of Commerce’s previous quarterly dividend of $ 1.10.

The Canadian Imperial Bank of Commerce has increased its dividend by 8.5% over the past three years and has increased its dividend every year for the past 1 years.

NYSE CM was trading at $ 1.43 on Friday to hit $ 92.17. The company had a trading volume of 568,839 shares compared to an average volume of 382,175 shares. The stock’s 50-day moving average is $ 88.63 and the 200-day moving average is $ 82.12. The stock has a market capitalization of $ 41.28 billion, a price to earnings ratio of 15.19, a PEG ratio of 1.97, and a beta of 1.12. The company has a quick rate of 1.04, current rate of 1.04, and leverage ratio of 0.15. The Canadian Imperial Bank of Commerce has a 52-week low of $ 46.45 and a 52-week high of $ 95.59.

The Canadian Imperial Bank of Commerce (NYSE: CM) (TSE: CM) last published its quarterly results on Wednesday, February 24th. The bank reported earnings per share of $ 3.58 for the quarter, beating the consensus estimate of $ 2.18 by $ 1.40. The Canadian Imperial Bank of Commerce achieved a return on equity of 12.03% and a net margin of 15.06%. As a group, analysts predict that the Canadian Imperial Bank of Commerce will post an EPS of 8.11 for the current year.

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Several brokers have commented on CM. CIBC raised the target price for the Canadian Imperial Bank of Commerce from USD 126.00 to USD 130.00 and rated the share as “Outperform” in a report on Friday. Zacks Investment Research upgraded Canada’s Imperial Bank of Commerce from a “hold” rating to a “buy” rating in a report on Friday, February 5, and set a price target of $ 98.00 for the company. BMO Capital Markets upgraded the Canadian Imperial Bank of Commerce from a “Market Perform” rating to an “Outperform” rating in a research note on Friday. The Royal Bank of Canada upgraded the Canadian Imperial Bank of Commerce from a “Sector Performance” rating to an “Outperform” rating in a research note on Friday, December 4th. Finally, Barclays raised its target price on shares in the Canadian Imperial Bank of Commerce from $ 124.00 to $ 128.00 and rated the stock as overweight in a report on Tuesday, February 16. An investment analyst has rated the stock with a sell rating, three with a hold rating and nine with a buy rating. The Canadian Imperial Bank of Commerce currently has a consensus rating of “Buy” and an average price target of $ 108.03.

Via the Canadian Imperial Bank of Commerce

The Canadian Imperial Bank of Commerce, a diversified financial institution, offers a variety of financial products and services to retail, business, public, and institutional clients in Canada, the United States, and internationally. The company operates in four strategic businesses: Canadian Personal and Business Banking; Canadian Commercial Banking and Wealth Management; US

Further reading: What is the S & P / ASX 200 index?

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7 cloud computing stocks to take your portfolio to new heights

Cloud computing sounds complicated and has become more and more sophisticated over the years. However, the basic idea behind the cloud is the same. The “cloud” is a euphemistic term for the provision of various services over the Internet. In the beginning, the cloud was used exclusively for data storage. Here is a simple example of why this was important.

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