Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) – Stock analysts at Cormark upped their Q3 2017 earnings per share estimates for shares of Canadian Imperial Bank of Commerce in a research report issued to clients and investors on Tuesday. Cormark analyst M. Grauman now anticipates that the bank will earn $2.09 per share for the quarter, up from their prior estimate of $1.96. Cormark also issued estimates for Canadian Imperial Bank of Commerce’s FY2017 earnings at $8.57 EPS and FY2018 earnings at $8.59 EPS.

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

Canadian Imperial Bank of Commerce (NYSE:CM) opened at 84.34 on Wednesday. The firm has a market capitalization of $33.87 billion, a P/E ratio of 8.82 and a beta of 1.09. The stock’s 50 day moving average price is $84.48 and its 200 day moving average price is $84.00. Canadian Imperial Bank of Commerce has a 12 month low of $72.62 and a 12 month high of $92.22.

Several hedge funds have recently modified their holdings of CM. Koch Industries Inc. raised its stake in shares of Canadian Imperial Bank of Commerce by 11,936.0% in the second quarter. Koch Industries Inc. now owns 288,382 shares of the bank’s stock worth $285,000 after buying an additional 285,986 shares in the last quarter. Verition Fund Management LLC raised its stake in shares of Canadian Imperial Bank of Commerce by 21.2% in the second quarter. Verition Fund Management LLC now owns 7,705 shares of the bank’s stock worth $625,000 after buying an additional 1,348 shares in the last quarter. Scotia Capital Inc. raised its stake in shares of Canadian Imperial Bank of Commerce by 10.0% in the second quarter. Scotia Capital Inc. now owns 1,142,679 shares of the bank’s stock worth $92,722,000 after buying an additional 103,558 shares in the last quarter. Raymond James Financial Services Advisors Inc. raised its stake in shares of Canadian Imperial Bank of Commerce by 177.4% in the second quarter. Raymond James Financial Services Advisors Inc. now owns 6,738 shares of the bank’s stock worth $548,000 after buying an additional 4,309 shares in the last quarter. Finally, The Manufacturers Life Insurance Company raised its stake in shares of Canadian Imperial Bank of Commerce by 63.3% in the second quarter. The Manufacturers Life Insurance Company now owns 2,876,904 shares of the bank’s stock worth $233,390,000 after buying an additional 1,115,584 shares in the last quarter. 48.46% of the stock is owned by institutional investors and hedge funds.

The business also recently declared a quarterly dividend, which was paid on Friday, July 28th. Investors of record on Wednesday, June 28th were issued a $0.9406 dividend. This represents a $3.76 dividend on an annualized basis and a dividend yield of 4.46%. The ex-dividend date of this dividend was Monday, June 26th. Canadian Imperial Bank of Commerce’s dividend payout ratio is currently 41.18%.

Canadian Imperial Bank of Commerce Company Profile

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.

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

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