Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) – Stock analysts at Desjardins dropped their FY2017 earnings per share estimates for Canadian Imperial Bank of Commerce in a research report issued to clients and investors on Monday. Desjardins analyst D. Young now expects that the bank will post earnings per share of $8.53 for the year, down from their prior forecast of $8.74. Desjardins also issued estimates for Canadian Imperial Bank of Commerce’s Q4 2017 earnings at $2.06 EPS and FY2018 earnings at $8.53 EPS.

A number of other research analysts have also commented on the company. BidaskClub raised Canadian Imperial Bank of Commerce from a “hold” rating to a “buy” rating in a report on Thursday, July 13th. TD Securities raised Canadian Imperial Bank of Commerce from a “hold” rating to a “buy” rating and set a $120.00 price objective on the stock in a report on Wednesday, September 6th. Canaccord Genuity set a $117.00 price objective on Canadian Imperial Bank of Commerce and gave the company a “buy” rating in a report on Thursday, August 24th. Zacks Investment Research raised Canadian Imperial Bank of Commerce from a “hold” rating to a “buy” rating and set a $95.00 price objective on the stock in a report on Tuesday, July 18th. Finally, Citigroup Inc. lowered Canadian Imperial Bank of Commerce from a “buy” rating to a “neutral” rating and set a $120.00 price objective on the stock. in a report on Wednesday, October 25th. One analyst has rated the stock with a sell rating, four have given a hold rating and two have issued a buy rating to the company. Canadian Imperial Bank of Commerce presently has an average rating of “Hold” and an average price target of $108.20.

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Canadian Imperial Bank of Commerce (NYSE CM) opened at $89.86 on Wednesday. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.96 and a current ratio of 0.96. The firm has a market capitalization of $39,301.96, a P/E ratio of 10.94, a P/E/G ratio of 3.35 and a beta of 1.11. Canadian Imperial Bank of Commerce has a 1-year low of $73.59 and a 1-year high of $92.22.

The company also recently disclosed a quarterly dividend, which was paid on Friday, October 27th. Shareholders of record on Thursday, September 28th were issued a $1.0329 dividend. This represents a $4.13 dividend on an annualized basis and a yield of 4.60%. This is a positive change from Canadian Imperial Bank of Commerce’s previous quarterly dividend of $0.94. The ex-dividend date of this dividend was Wednesday, September 27th. Canadian Imperial Bank of Commerce’s dividend payout ratio is currently 48.74%.

Large investors have recently added to or reduced their stakes in the company. Northwestern Mutual Wealth Management Co. lifted its position in shares of Canadian Imperial Bank of Commerce by 55.5% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 1,474 shares of the bank’s stock valued at $120,000 after acquiring an additional 526 shares during the period. INR Advisory Services LLC bought a new stake in shares of Canadian Imperial Bank of Commerce during the 2nd quarter valued at $125,000. Opera Trading Capital bought a new stake in shares of Canadian Imperial Bank of Commerce during the 2nd quarter valued at $136,000. Nationwide Fund Advisors bought a new stake in shares of Canadian Imperial Bank of Commerce during the 2nd quarter valued at $138,000. Finally, D.A. Davidson & CO. bought a new stake in shares of Canadian Imperial Bank of Commerce during the 2nd quarter valued at $162,000. Hedge funds and other institutional investors own 46.24% of the company’s stock.

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.

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

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