Canadian Imperial Bank of Commerce (CM) Forecasted to Post Q1 2018 Earnings of $2.16 Per Share

Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) – Research analysts at Desjardins issued their Q1 2018 EPS estimates for Canadian Imperial Bank of Commerce in a research note issued to investors on Thursday. Desjardins analyst D. Young forecasts that the bank will earn $2.16 per share for the quarter. Desjardins also issued estimates for Canadian Imperial Bank of Commerce’s Q2 2018 earnings at $2.19 EPS, Q3 2018 earnings at $2.17 EPS and FY2019 earnings at $9.14 EPS.

Other equities research analysts also recently issued reports about the stock. 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. Canaccord Genuity set a $117.00 target price on shares of Canadian Imperial Bank of Commerce and gave the company a “buy” rating in a report on Thursday, August 24th. Scotiabank restated a “hold” rating and issued a $128.00 target price on shares of Canadian Imperial Bank of Commerce in a report on Wednesday, November 22nd. Zacks Investment Research downgraded shares of Canadian Imperial Bank of Commerce from a “buy” rating to a “hold” rating in a research note on Wednesday, October 25th. Finally, Citigroup downgraded shares of Canadian Imperial Bank of Commerce from a “buy” rating to a “neutral” rating and set a $120.00 price objective for the company. in a research note on Wednesday, October 25th. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and three have assigned a buy rating to the company’s stock. Canadian Imperial Bank of Commerce currently has a consensus rating of “Hold” and a consensus target price of $114.00.

Canadian Imperial Bank of Commerce (NYSE CM) opened at $95.47 on Monday. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.96 and a quick ratio of 0.96. The firm has a market cap of $41,942.84, a P/E ratio of 11.22, a PEG ratio of 3.84 and a beta of 1.12. Canadian Imperial Bank of Commerce has a 52-week low of $77.20 and a 52-week high of $95.73.

The business also recently declared a quarterly dividend, which will be paid on Monday, January 29th. Investors of record on Thursday, December 28th will be issued a $1.011 dividend. The ex-dividend date of this dividend is Wednesday, December 27th. This represents a $4.04 annualized dividend and a yield of 4.24%. Canadian Imperial Bank of Commerce’s dividend payout ratio is presently 47.04%.

A number of institutional investors and hedge funds have recently bought and sold shares of CM. AXA raised its holdings in shares of Canadian Imperial Bank of Commerce by 22.7% during the third quarter. AXA now owns 569,651 shares of the bank’s stock worth $49,856,000 after purchasing an additional 105,369 shares during the period. Guardian Capital LP increased its holdings in shares of Canadian Imperial Bank of Commerce by 8.3% in the 3rd quarter. Guardian Capital LP now owns 1,444,667 shares of the bank’s stock worth $126,065,000 after acquiring an additional 110,950 shares during the period. Janney Montgomery Scott LLC increased its holdings in shares of Canadian Imperial Bank of Commerce by 148.4% in the 3rd quarter. Janney Montgomery Scott LLC now owns 8,432 shares of the bank’s stock worth $738,000 after acquiring an additional 5,038 shares during the period. Zions Bancorporation increased its holdings in shares of Canadian Imperial Bank of Commerce by 13,548.5% in the 3rd quarter. Zions Bancorporation now owns 4,504 shares of the bank’s stock worth $394,000 after acquiring an additional 4,471 shares during the period. Finally, First Allied Advisory Services Inc. increased its holdings in shares of Canadian Imperial Bank of Commerce by 26.7% in the 3rd quarter. First Allied Advisory Services Inc. now owns 3,377 shares of the bank’s stock worth $293,000 after acquiring an additional 712 shares during the period. 44.76% of the stock is currently owned by hedge funds and other institutional investors.

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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.

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

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