Analysts expect Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) to report earnings per share (EPS) of $2.10 for the current fiscal quarter, according to Zacks. Three analysts have provided estimates for Canadian Imperial Bank of Commerce’s earnings. The lowest EPS estimate is $2.05 and the highest is $2.15. Canadian Imperial Bank of Commerce posted earnings of $1.98 per share in the same quarter last year, which indicates a positive year over year growth rate of 6.1%. The firm is scheduled to announce its next quarterly earnings results on Thursday, December 7th.

According to Zacks, analysts expect that Canadian Imperial Bank of Commerce will report full year earnings of $8.73 per share for the current fiscal year, with EPS estimates ranging from $8.67 to $8.79. For the next year, analysts expect that the business will post earnings of $8.87 per share, with EPS estimates ranging from $8.72 to $8.94. Zacks’ EPS averages are an average based on a survey of sell-side analysts that that provide coverage for Canadian Imperial Bank of Commerce.

CM has been the subject of a number of recent analyst reports. Zacks Investment Research upgraded shares of Canadian Imperial Bank of Commerce from a “hold” rating to a “buy” rating and set a $95.00 price target for the company in a report on Tuesday, July 18th. Canaccord Genuity initiated coverage on shares of Canadian Imperial Bank of Commerce in a report on Tuesday, July 18th. They set a “buy” rating for the company. BidaskClub upgraded shares of Canadian Imperial Bank of Commerce from a “hold” rating to a “buy” rating in a report on Thursday, July 13th. Finally, TD Securities upgraded 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 report on Wednesday, September 6th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and three have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average price target of $101.80.

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Canadian Imperial Bank of Commerce (NYSE:CM) opened at 90.54 on Thursday. The company has a market cap of $39.47 billion, a PE ratio of 10.00 and a beta of 1.09. Canadian Imperial Bank of Commerce has a 1-year low of $72.62 and a 1-year high of $92.22. The stock’s 50 day moving average price is $87.81 and its 200-day moving average price is $83.75.

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 27th. Shareholders of record on Thursday, September 28th will be given a $1.0329 dividend. This represents a $4.13 annualized dividend and a yield of 4.56%. The ex-dividend date of this dividend is Wednesday, September 27th. This is a boost from Canadian Imperial Bank of Commerce’s previous quarterly dividend of $0.94. Canadian Imperial Bank of Commerce’s dividend payout ratio (DPR) is currently 49.82%.

Several institutional investors have recently added to or reduced their stakes in CM. Ameriprise Financial Inc. lifted its position in shares of Canadian Imperial Bank of Commerce by 22.6% during the 1st quarter. Ameriprise Financial Inc. now owns 10,757 shares of the bank’s stock worth $927,000 after purchasing an additional 1,982 shares during the last quarter. Raymond James Financial Services Advisors Inc. purchased a new stake in shares of Canadian Imperial Bank of Commerce during the 1st quarter worth $209,000. Envestnet Asset Management Inc. lifted its position in shares of Canadian Imperial Bank of Commerce by 0.6% during the 1st quarter. Envestnet Asset Management Inc. now owns 5,118 shares of the bank’s stock worth $441,000 after purchasing an additional 33 shares during the last quarter. Stifel Financial Corp lifted its position in shares of Canadian Imperial Bank of Commerce by 34.7% during the 1st quarter. Stifel Financial Corp now owns 4,021 shares of the bank’s stock worth $348,000 after purchasing an additional 1,036 shares during the last quarter. Finally, United Services Automobile Association lifted its position in shares of Canadian Imperial Bank of Commerce by 0.4% during the 1st quarter. United Services Automobile Association now owns 33,318 shares of the bank’s stock worth $2,872,000 after purchasing an additional 138 shares during the last quarter. 46.43% of the stock is owned by institutional investors and hedge funds.

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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