National Bank Financial Analysts Reduce Earnings Estimates for Canadian Imperial Bank of Commerce (CM)

Canadian Imperial Bank of Commerce (TSE:CM) (NYSE:CM) – Stock analysts at National Bank Financial decreased their Q1 2019 EPS estimates for Canadian Imperial Bank of Commerce in a research report issued to clients and investors on Thursday, November 29th. National Bank Financial analyst G. Dechaine now expects that the company will earn $3.23 per share for the quarter, down from their previous forecast of $3.25. National Bank Financial currently has a “Sector Perform” rating and a $122.00 target price on the stock. National Bank Financial also issued estimates for Canadian Imperial Bank of Commerce’s Q2 2019 earnings at $3.05 EPS, FY2019 earnings at $12.47 EPS and FY2020 earnings at $13.25 EPS.

Several other equities analysts have also issued reports on the company. BMO Capital Markets lifted their price target on Canadian Imperial Bank of Commerce from C$130.00 to C$135.00 and gave the stock a “market perform” rating in a research report on Friday, August 24th. Canaccord Genuity reduced their price objective on Canadian Imperial Bank of Commerce from C$133.00 to C$124.00 in a report on Thursday, November 22nd. TD Securities boosted their price target on Canadian Imperial Bank of Commerce from C$140.00 to C$145.00 and gave the company a “buy” rating in a research note on Thursday, August 23rd. Barclays cut their price objective on Canadian Imperial Bank of Commerce from C$137.00 to C$130.00 in a research note on Friday, November 16th. Finally, Eight Capital cut their price objective on Canadian Imperial Bank of Commerce from C$132.00 to C$131.00 in a research note on Friday. Four analysts have rated the stock with a hold rating and four have issued a buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus price target of C$130.82.

TSE:CM opened at C$111.50 on Monday. Canadian Imperial Bank of Commerce has a twelve month low of C$110.00 and a twelve month high of C$125.21.

The company also recently disclosed a quarterly dividend, which will be paid on Monday, January 28th. Stockholders of record on Friday, December 28th will be paid a $1.36 dividend. This represents a $5.44 annualized dividend and a dividend yield of 4.88%. The ex-dividend date is Thursday, December 27th. Canadian Imperial Bank of Commerce’s payout ratio is 45.97%.

In other Canadian Imperial Bank of Commerce news, Director Victor George Dodig sold 16,000 shares of the firm’s stock in a transaction that occurred on Tuesday, September 18th. The stock was sold at an average price of C$122.91, for a total value of C$1,966,560.00. Also, insider John Hountalas sold 9,033 shares of the firm’s stock in a transaction that occurred on Monday, September 24th. The shares were sold at an average price of C$124.55, for a total value of C$1,125,060.15.

Canadian Imperial Bank of Commerce Company Profile

Canadian Imperial Bank of Commerce, a diversified financial institution, provides various financial products and services to individual, small business, commercial, corporate, and institutional clients in Canada, the United States, and internationally. The company operates through four strategic business units: Canadian Personal and Small Business Banking; Canadian Commercial Banking and Wealth Management; U.S.

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

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