Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) – Equities researchers at Cormark increased their FY2017 EPS estimates for Canadian Imperial Bank of Commerce in a report issued on Friday. Cormark analyst M. Grauman now expects that the bank will post earnings of $8.79 per share for the year, up from their prior estimate of $8.63. Cormark also issued estimates for Canadian Imperial Bank of Commerce’s Q4 2017 earnings at $2.15 EPS, Q1 2018 earnings at $2.24 EPS, Q2 2018 earnings at $2.20 EPS, Q3 2018 earnings at $2.24 EPS and FY2018 earnings at $8.94 EPS.

A number of other research firms have also recently commented on CM. Canaccord Genuity set a $117.00 price objective on shares of Canadian Imperial Bank of Commerce and gave the company a “buy” rating in a research note on Thursday, August 24th. BidaskClub cut shares of Canadian Imperial Bank of Commerce from a “buy” rating to a “hold” rating in a research note on Friday, July 28th. Zacks Investment Research upgraded shares of Canadian Imperial Bank of Commerce from a “hold” rating to a “buy” rating and set a $95.00 target price for the company in a research note on Tuesday, July 18th. Finally, National Bank Financial reiterated an “outperform overweight” rating on shares of Canadian Imperial Bank of Commerce in a research note on Thursday, May 18th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and four have given a buy rating to the company. Canadian Imperial Bank of Commerce has an average rating of “Hold” and an average price target of $102.43.

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Canadian Imperial Bank of Commerce (NYSE:CM) opened at 84.39 on Monday. The company’s 50-day moving average price is $85.17 and its 200 day moving average price is $83.97. The firm has a market capitalization of $36.79 billion, a price-to-earnings ratio of 9.74 and a beta of 1.09. Canadian Imperial Bank of Commerce has a 52-week low of $72.62 and a 52-week high of $92.22.

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Northwestern Mutual Wealth Management Co. boosted its stake in shares of Canadian Imperial Bank of Commerce by 55.5% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 1,474 shares of the bank’s stock valued at $120,000 after buying an additional 526 shares in the last quarter. INR Advisory Services LLC acquired a new stake in shares of Canadian Imperial Bank of Commerce during the second quarter valued at about $125,000. Opera Trading Capital acquired a new stake in shares of Canadian Imperial Bank of Commerce during the second quarter valued at about $136,000. Nationwide Fund Advisors acquired a new stake in shares of Canadian Imperial Bank of Commerce during the second quarter valued at about $138,000. Finally, Parallel Advisors LLC boosted its stake in shares of Canadian Imperial Bank of Commerce by 7.2% in the first quarter. Parallel Advisors LLC now owns 1,915 shares of the bank’s stock valued at $152,000 after buying an additional 129 shares in the last quarter. 46.70% of the stock is currently owned by institutional investors.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 27th. Investors of record on Thursday, September 28th will be issued a $1.0329 dividend. The ex-dividend date is Wednesday, September 27th. This represents a $4.13 dividend on an annualized basis and a dividend yield of 4.90%. This is a positive change from Canadian Imperial Bank of Commerce’s previous quarterly dividend of $0.94. Canadian Imperial Bank of Commerce’s dividend payout ratio is currently 45.25%.

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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