Wall Street brokerages forecast that Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) will report earnings of $2.37 per share for the current fiscal quarter, Zacks Investment Research reports. Two analysts have provided estimates for Canadian Imperial Bank of Commerce’s earnings, with the highest EPS estimate coming in at $2.42 and the lowest estimate coming in at $2.34. Canadian Imperial Bank of Commerce reported earnings of $2.50 per share during the same quarter last year, which indicates a negative year-over-year growth rate of 5.2%. The firm is scheduled to announce its next quarterly earnings report before the market opens on Thursday, February 28th.

According to Zacks, analysts expect that Canadian Imperial Bank of Commerce will report full-year earnings of $9.42 per share for the current financial year, with EPS estimates ranging from $9.31 to $9.55. For the next year, analysts anticipate that the company will report earnings of $9.85 per share, with EPS estimates ranging from $9.61 to $10.06. Zacks’ EPS averages are an average based on a survey of sell-side research analysts that follow Canadian Imperial Bank of Commerce.

Several equities research analysts have recently weighed in on the company. Barclays reiterated a “buy” rating on shares of Canadian Imperial Bank of Commerce in a research note on Friday, November 16th. Canaccord Genuity reiterated an “average” rating and issued a $125.00 price objective on shares of Canadian Imperial Bank of Commerce in a research note on Wednesday, February 20th. Scotiabank reiterated an “average” rating and issued a $126.00 price objective on shares of Canadian Imperial Bank of Commerce in a research note on Friday, February 22nd. Zacks Investment Research lowered Canadian Imperial Bank of Commerce from a “hold” rating to a “sell” rating in a research note on Monday, November 19th. Finally, ValuEngine upgraded Canadian Imperial Bank of Commerce from a “sell” rating to a “hold” rating in a research report on Tuesday, February 5th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and four have given a buy rating to the stock. Canadian Imperial Bank of Commerce has an average rating of “Hold” and an average price target of $125.43.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Norges Bank bought a new stake in Canadian Imperial Bank of Commerce during the 4th quarter worth approximately $309,767,000. Aspire Private Capital LLC bought a new stake in Canadian Imperial Bank of Commerce during the 4th quarter worth approximately $380,000. Lake Point Wealth Management bought a new stake in Canadian Imperial Bank of Commerce during the 4th quarter worth approximately $382,000. HighPoint Advisor Group LLC lifted its holdings in Canadian Imperial Bank of Commerce by 31.9% during the 4th quarter. HighPoint Advisor Group LLC now owns 2,909 shares of the bank’s stock worth $249,000 after buying an additional 704 shares in the last quarter. Finally, APG Asset Management N.V. lifted its holdings in Canadian Imperial Bank of Commerce by 34.4% during the 4th quarter. APG Asset Management N.V. now owns 3,418,660 shares of the bank’s stock worth $222,641,000 after buying an additional 874,400 shares in the last quarter. Institutional investors and hedge funds own 46.20% of the company’s stock.

Shares of CM stock traded down $0.06 during trading hours on Thursday, hitting $84.16. The company had a trading volume of 239,000 shares, compared to its average volume of 368,066. Canadian Imperial Bank of Commerce has a 12 month low of $72.96 and a 12 month high of $96.98. The firm has a market cap of $37.23 billion, a P/E ratio of 9.01, a P/E/G ratio of 4.98 and a beta of 1.16. The company has a current ratio of 1.06, a quick ratio of 1.06 and a debt-to-equity ratio of 0.12.

The firm also recently declared a quarterly dividend, which will be paid on Monday, April 29th. Investors of record on Thursday, March 28th will be given a dividend of $1.0616 per share. The ex-dividend date of this dividend is Wednesday, March 27th. This is a positive change from Canadian Imperial Bank of Commerce’s previous quarterly dividend of $1.03. This represents a $4.25 dividend on an annualized basis and a yield of 5.05%. Canadian Imperial Bank of Commerce’s dividend payout ratio is 43.79%.

Canadian Imperial Bank of Commerce Company Profile

Canadian Imperial Bank of Commerce, a diversified financial institution, provides various financial products and services to personal, business, public sector, 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 (NYSE:CM)

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