Research Analysts Set Expectations for Canadian Imperial Bank of Commerce’s Q1 2018 Earnings (CM)

Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) – Research analysts at Desjardins issued their Q1 2018 earnings per share (EPS) estimates for shares of Canadian Imperial Bank of Commerce in a research note issued to investors on Thursday. Desjardins analyst D. Young expects that the bank will post earnings of $2.16 per share for the quarter. Desjardins also issued estimates for Canadian Imperial Bank of Commerce’s Q2 2018 earnings at $2.19 EPS, Q3 2018 earnings at $2.17 EPS and FY2019 earnings at $9.14 EPS.

A number of other analysts also recently issued reports on the stock. Citigroup downgraded shares of Canadian Imperial Bank of Commerce from a “buy” rating to a “neutral” rating and set a $120.00 target price for the company. in a research report on Wednesday, October 25th. TD Securities raised shares of Canadian Imperial Bank of Commerce from a “hold” rating to a “buy” rating and set a $120.00 price objective for the company in a research report on Wednesday, September 6th. Scotiabank reaffirmed a “hold” rating and issued a $128.00 price objective on shares of Canadian Imperial Bank of Commerce in a research report on Wednesday, November 22nd. Zacks Investment Research downgraded shares of Canadian Imperial Bank of Commerce from a “hold” rating to a “sell” rating in a research report on Wednesday, November 8th. Finally, Macquarie assumed coverage on shares of Canadian Imperial Bank of Commerce in a research report on Tuesday, October 24th. They issued an “underperform” rating and a $89.00 price objective for the company. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and three have issued a buy rating to the company. Canadian Imperial Bank of Commerce presently has an average rating of “Hold” and a consensus target price of $114.00.

Canadian Imperial Bank of Commerce (NYSE CM) traded down $0.70 on Monday, reaching $94.05. 601,800 shares of the company were exchanged, compared to its average volume of 756,940. The firm has a market cap of $41,626.49, a P/E ratio of 11.13, a PEG ratio of 4.66 and a beta of 1.12. Canadian Imperial Bank of Commerce has a 12-month low of $77.20 and a 12-month high of $96.64. 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 company also recently disclosed a quarterly dividend, which will be paid on Monday, January 29th. Shareholders of record on Thursday, December 28th will be given a $1.011 dividend. This represents a $4.04 annualized dividend and a yield of 4.30%. The ex-dividend date of this dividend is Wednesday, December 27th. Canadian Imperial Bank of Commerce’s dividend payout ratio (DPR) is 47.04%.

Several hedge funds have recently added to or reduced their stakes in CM. Vanguard Group Inc. grew its position in shares of Canadian Imperial Bank of Commerce by 16.4% during the second quarter. Vanguard Group Inc. now owns 9,859,474 shares of the bank’s stock worth $800,194,000 after buying an additional 1,391,019 shares in the last quarter. Dimensional Fund Advisors LP grew its position in shares of Canadian Imperial Bank of Commerce by 494.2% during the second quarter. Dimensional Fund Advisors LP now owns 1,426,039 shares of the bank’s stock worth $115,738,000 after buying an additional 1,186,052 shares in the last quarter. The Manufacturers Life Insurance Company grew its position in shares of Canadian Imperial Bank of Commerce by 63.3% during the second quarter. The Manufacturers Life Insurance Company now owns 2,876,904 shares of the bank’s stock worth $233,390,000 after buying an additional 1,115,584 shares in the last quarter. Intact Investment Management Inc. grew its position in shares of Canadian Imperial Bank of Commerce by 130.9% during the second quarter. Intact Investment Management Inc. now owns 1,635,780 shares of the bank’s stock worth $172,117,000 after buying an additional 927,280 shares in the last quarter. Finally, Goldman Sachs Group Inc. grew its position in shares of Canadian Imperial Bank of Commerce by 100.8% during the second quarter. Goldman Sachs Group Inc. now owns 1,813,405 shares of the bank’s stock worth $147,176,000 after buying an additional 910,173 shares in the last quarter. 44.76% of the stock is owned by institutional investors and hedge funds.

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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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