Equities research analysts predict that Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) will report $2.94 billion in sales for the current fiscal quarter, according to Zacks Investment Research. Two analysts have issued estimates for Canadian Imperial Bank of Commerce’s earnings, with the highest sales estimate coming in at $2.96 billion and the lowest estimate coming in at $2.92 billion. Canadian Imperial Bank of Commerce posted sales of $3.19 billion in the same quarter last year, which suggests a negative year over year growth rate of 7.8%. The business is scheduled to announce its next quarterly earnings results before the market opens on Thursday, August 24th.

According to Zacks, analysts expect that Canadian Imperial Bank of Commerce will report full year sales of $2.94 billion for the current year, with estimates ranging from $11.73 billion to $11.85 billion. For the next fiscal year, analysts expect that the firm will report sales of $12.43 billion per share, with estimates ranging from $12.30 billion to $12.58 billion. Zacks’ sales calculations are an average based on a survey of research firms that cover Canadian Imperial Bank of Commerce.

Several analysts recently issued reports on the company. BidaskClub cut Canadian Imperial Bank of Commerce from a “buy” rating to a “hold” rating in a research note on Friday, July 28th. Zacks Investment Research raised Canadian Imperial Bank of Commerce from a “hold” rating to a “buy” rating and set a $95.00 target price on the stock in a research note on Tuesday, July 18th. Canaccord Genuity assumed coverage on Canadian Imperial Bank of Commerce in a research note on Tuesday, July 18th. They issued a “buy” rating on the stock. Finally, National Bank Financial reissued an “outperform overweight” rating on shares of Canadian Imperial Bank of Commerce in a research note on Thursday, May 18th. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and four have assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average target price of $100.63.

Canadian Imperial Bank of Commerce (NYSE:CM) opened at 85.73 on Monday. The stock has a 50 day moving average price of $83.01 and a 200-day moving average price of $83.96. The firm has a market capitalization of $34.43 billion, a P/E ratio of 9.00 and a beta of 1.09. Canadian Imperial Bank of Commerce has a 52 week low of $72.62 and a 52 week high of $92.22.

The business also recently disclosed a quarterly dividend, which was paid on Friday, July 28th. Shareholders of record on Wednesday, June 28th were issued a $0.9406 dividend. The ex-dividend date of this dividend was Monday, June 26th. This represents a $3.76 annualized dividend and a yield of 4.39%. Canadian Imperial Bank of Commerce’s dividend payout ratio (DPR) is presently 41.18%.

A number of hedge funds have recently modified their holdings of the company. Opera Trading Capital bought a new stake in Canadian Imperial Bank of Commerce during the second quarter valued at $136,000. Parallel Advisors LLC raised its stake in Canadian Imperial Bank of Commerce by 7.2% in the first quarter. Parallel Advisors LLC now owns 1,915 shares of the bank’s stock valued at $152,000 after buying an additional 129 shares during the period. American Research & Management Co. raised its stake in Canadian Imperial Bank of Commerce by 473.5% in the second quarter. American Research & Management Co. now owns 2,122 shares of the bank’s stock valued at $172,000 after buying an additional 1,752 shares during the period. First Quadrant L P CA bought a new stake in Canadian Imperial Bank of Commerce during the second quarter valued at $191,000. Finally, Koch Industries Inc. bought a new stake in Canadian Imperial Bank of Commerce during the first quarter valued at $207,000. Institutional investors and hedge funds own 47.69% of the company’s stock.

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About Canadian Imperial Bank of Commerce

Canadian Imperial Bank of Commerce (CIBC) is a global financial institution. The Company provides a range of financial products and services to approximately 11 million individual, small business, commercial, corporate and institutional clients in Canada and around the world. The Company operates through three segments: Retail and Business Banking, Wealth Management and Capital Markets.

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Earnings History and Estimates for Canadian Imperial Bank of Commerce (NYSE:CM)

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