Brokerages expect Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) to report $3.36 billion in sales for the current quarter, Zacks reports. Three analysts have issued estimates for Canadian Imperial Bank of Commerce’s earnings. The highest sales estimate is $3.43 billion and the lowest is $3.29 billion. Canadian Imperial Bank of Commerce posted sales of $2.81 billion in the same quarter last year, which suggests a positive year over year growth rate of 19.6%. The firm is expected to announce its next earnings results on Thursday, December 7th.

According to Zacks, analysts expect that Canadian Imperial Bank of Commerce will report full year sales of $3.36 billion for the current year, with estimates ranging from $12.88 billion to $13.04 billion. For the next financial year, analysts anticipate that the firm will report sales of $13.77 billion per share, with estimates ranging from $13.56 billion to $14.08 billion. Zacks Investment Research’s sales calculations are an average based on a survey of analysts that that provide coverage for Canadian Imperial Bank of Commerce.

Several brokerages have commented on CM. TD Securities raised shares of Canadian Imperial Bank of Commerce from a “hold” rating to a “buy” rating and set a $120.00 target price for the company in a research note on Wednesday, September 6th. 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 target on the stock in a research report on Tuesday, July 18th. Canaccord Genuity set a $117.00 price target on shares of Canadian Imperial Bank of Commerce and gave the stock a “buy” rating in a research report on Thursday, August 24th. Finally, BidaskClub raised shares of Canadian Imperial Bank of Commerce from a “strong sell” rating to a “sell” rating in a report on Tuesday, June 13th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and three have assigned a buy rating to the stock. Canadian Imperial Bank of Commerce presently has a consensus rating of “Hold” and a consensus price target of $101.80.

Shares of Canadian Imperial Bank of Commerce (CM) opened at 87.52 on Monday. The stock has a 50 day moving average price of $85.56 and a 200 day moving average price of $83.58. The firm has a market cap of $38.15 billion, a PE ratio of 9.67 and a beta of 1.09. Canadian Imperial Bank of Commerce has a 12 month low of $72.62 and a 12 month high of $92.22.

The business also recently announced a quarterly dividend, which will be paid on Friday, October 27th. Shareholders of record on Thursday, September 28th will be issued a dividend of $1.0329 per share. This is an increase from Canadian Imperial Bank of Commerce’s previous quarterly dividend of $0.94. This represents a $4.13 annualized dividend and a yield of 4.72%. The ex-dividend date is Wednesday, September 27th. Canadian Imperial Bank of Commerce’s dividend payout ratio (DPR) is 49.82%.

Institutional investors have recently added to or reduced their stakes in the company. Comerica Bank increased its position in shares of Canadian Imperial Bank of Commerce by 1.3% during the first quarter. Comerica Bank now owns 23,111 shares of the bank’s stock worth $1,863,000 after acquiring an additional 301 shares in the last quarter. Ameriprise Financial Inc. raised its holdings in shares of Canadian Imperial Bank of Commerce by 22.6% during the first quarter. Ameriprise Financial Inc. now owns 10,757 shares of the bank’s stock worth $927,000 after acquiring an additional 1,982 shares during the period. Raymond James Financial Services Advisors Inc. acquired a new stake in shares of Canadian Imperial Bank of Commerce during the first quarter worth $209,000. Envestnet Asset Management Inc. raised its holdings in shares of Canadian Imperial Bank of Commerce by 0.6% during the first quarter. Envestnet Asset Management Inc. now owns 5,118 shares of the bank’s stock worth $441,000 after acquiring an additional 33 shares during the period. Finally, Private Advisor Group LLC acquired a new stake in shares of Canadian Imperial Bank of Commerce during the first quarter worth $227,000. Institutional investors own 46.45% of the company’s stock.

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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.

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

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