Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) – Equities researchers at National Bank Financial raised their Q3 2018 earnings per share (EPS) estimates for Canadian Imperial Bank of Commerce in a report issued on Thursday. National Bank Financial analyst G. Dechaine now forecasts that the bank will post earnings of $2.27 per share for the quarter, up from their prior forecast of $2.22. National Bank Financial also issued estimates for Canadian Imperial Bank of Commerce’s FY2019 earnings at $9.44 EPS.

Several other research analysts have also recently issued reports on CM. Zacks Investment Research raised Canadian Imperial Bank of Commerce from a “sell” rating to a “hold” rating in a research report on Monday. Canaccord Genuity reaffirmed a “buy” rating and set a $121.00 price objective on shares of Canadian Imperial Bank of Commerce in a research report on Thursday, November 30th. Credit Suisse Group raised Canadian Imperial Bank of Commerce from a “neutral” rating to an “outperform” rating and upped their price objective for the stock from $116.00 to $125.00 in a research report on Friday, December 1st. Macquarie started coverage on Canadian Imperial Bank of Commerce in a report on Tuesday, October 24th. They issued an “underperform” rating and a $89.00 target price for the company. Finally, Scotiabank reissued 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. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and three have issued a buy rating to the stock. Canadian Imperial Bank of Commerce presently has an average rating of “Hold” and an average target price of $114.00.

Canadian Imperial Bank of Commerce (NYSE:CM) traded down $0.70 during trading hours on Monday, hitting $94.05. The stock had a trading volume of 601,800 shares, compared to its average volume of 756,940. The firm has a market cap of $41,626.49, a PE ratio of 11.13, a P/E/G ratio of 4.66 and a beta of 1.12. Canadian Imperial Bank of Commerce has a twelve month low of $77.20 and a twelve month high of $96.64. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 0.11.

The company also recently announced a quarterly dividend, which will be paid on Monday, January 29th. Stockholders of record on Thursday, December 28th will be issued a $1.011 dividend. This represents a $4.04 annualized dividend and a dividend yield of 4.30%. The ex-dividend date is Wednesday, December 27th. Canadian Imperial Bank of Commerce’s payout ratio is currently 47.04%.

Several institutional investors have recently bought and sold shares of CM. Dimensional Fund Advisors LP raised its stake in Canadian Imperial Bank of Commerce by 4.3% during the 1st quarter. Dimensional Fund Advisors LP now owns 239,987 shares of the bank’s stock valued at $20,689,000 after acquiring an additional 9,819 shares during the last quarter. US Bancorp DE raised its stake in Canadian Imperial Bank of Commerce by 70.1% during the 2nd quarter. US Bancorp DE now owns 12,228 shares of the bank’s stock valued at $993,000 after acquiring an additional 5,038 shares during the last quarter. Municipal Employees Retirement System of Michigan purchased a new stake in Canadian Imperial Bank of Commerce during the 2nd quarter valued at approximately $1,048,000. Janney Montgomery Scott LLC raised its stake in Canadian Imperial Bank of Commerce by 14.9% during the 2nd quarter. Janney Montgomery Scott LLC now owns 3,394 shares of the bank’s stock valued at $275,000 after acquiring an additional 439 shares during the last quarter. Finally, Bbva Compass Bancshares Inc. purchased a new stake in Canadian Imperial Bank of Commerce during the 2nd quarter valued at approximately $398,000. 44.76% of the stock is owned by institutional investors and hedge funds.

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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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