Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) - Equities researchers at National Bank Financial boosted their Q3 2017 earnings per share (EPS) estimates for Canadian Imperial Bank of Commerce in a research report issued to clients and investors on Thursday. National Bank Financial analyst G. Dechaine now forecasts that the bank will post earnings per share of $2.05 for the quarter, up from their previous forecast of $1.91. National Bank Financial currently has a “Outperform Overweight” rating on the stock. National Bank Financial also issued estimates for Canadian Imperial Bank of Commerce’s Q4 2017 earnings at $1.79 EPS, FY2017 earnings at $8.62 EPS, Q1 2018 earnings at $2.15 EPS, Q2 2018 earnings at $2.10 EPS and FY2018 earnings at $8.51 EPS.
Other equities analysts have also issued reports about the company. Zacks Investment Research lowered Canadian Imperial Bank of Commerce from a “buy” rating to a “hold” rating in a research note on Tuesday, April 25th. BidaskClub lowered Canadian Imperial Bank of Commerce from a “buy” rating to a “hold” rating in a research note on Friday, July 28th. Finally, Canaccord Genuity began coverage on Canadian Imperial Bank of Commerce in a research note on Tuesday, July 18th. They set a “buy” rating on the stock. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and four have assigned a buy rating to the company’s stock. Canadian Imperial Bank of Commerce currently has an average rating of “Hold” and an average price target of $101.71.
Shares of Canadian Imperial Bank of Commerce (CM) opened at 84.91 on Monday. Canadian Imperial Bank of Commerce has a 1-year low of $72.62 and a 1-year high of $92.22. The firm has a market cap of $34.10 billion, a price-to-earnings ratio of 8.98 and a beta of 1.09. The stock has a 50 day moving average price of $84.91 and a 200-day moving average price of $83.98.
The company also recently disclosed a quarterly dividend, which was paid on Friday, July 28th. Investors of record on Wednesday, June 28th were given a $0.9406 dividend. This represents a $3.76 dividend on an annualized basis and a dividend yield of 4.43%. The ex-dividend date was Monday, June 26th. Canadian Imperial Bank of Commerce’s dividend payout ratio is currently 41.18%.
Several hedge funds have recently added to or reduced their stakes in the stock. Aull & Monroe Investment Management Corp purchased a new stake in Canadian Imperial Bank of Commerce during the first quarter worth approximately $784,000. Korea Investment CORP boosted its stake in Canadian Imperial Bank of Commerce by 69.0% in the first quarter. Korea Investment CORP now owns 263,094 shares of the bank’s stock worth $22,621,000 after buying an additional 107,436 shares in the last quarter. Acadian Asset Management LLC boosted its stake in Canadian Imperial Bank of Commerce by 14.3% in the first quarter. Acadian Asset Management LLC now owns 5,684,299 shares of the bank’s stock worth $488,755,000 after buying an additional 709,927 shares in the last quarter. Shell Asset Management Co. boosted its stake in Canadian Imperial Bank of Commerce by 1.5% in the first quarter. Shell Asset Management Co. now owns 80,096 shares of the bank’s stock worth $9,185,000 after buying an additional 1,169 shares in the last quarter. Finally, K.J. Harrison & Partners Inc boosted its stake in Canadian Imperial Bank of Commerce by 64.8% in the first quarter. K.J. Harrison & Partners Inc now owns 14,562 shares of the bank’s stock worth $1,253,000 after buying an additional 5,727 shares in the last quarter. Institutional investors and hedge funds own 48.46% of the company’s stock.
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.
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