Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) – Cormark upped their Q3 2017 earnings estimates for Canadian Imperial Bank of Commerce in a research report issued to clients and investors on Thursday. Cormark analyst M. Grauman now expects that the bank will post earnings of $2.12 per share for the quarter, up from their prior estimate of $2.09. Cormark also issued estimates for Canadian Imperial Bank of Commerce’s Q4 2017 earnings at $2.13 EPS, FY2017 earnings at $8.63 EPS, Q1 2018 earnings at $2.18 EPS, Q2 2018 earnings at $2.14 EPS, Q3 2018 earnings at $2.22 EPS, Q4 2018 earnings at $2.26 EPS and FY2018 earnings at $8.80 EPS.

Several other equities research analysts have also commented on the stock. Canaccord Genuity set a $117.00 price target on shares of Canadian Imperial Bank of Commerce and gave the stock a “buy” rating in a report on Thursday. BidaskClub lowered shares of Canadian Imperial Bank of Commerce from a “buy” rating to a “hold” rating in a report on Friday, July 28th. Zacks Investment Research raised shares of Canadian Imperial Bank of Commerce from a “hold” rating to a “buy” rating and set a $95.00 price target for the company in a report on Tuesday, July 18th. Finally, National Bank Financial reissued an “outperform overweight” rating on shares of Canadian Imperial Bank of Commerce in a report on Thursday, May 18th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and four have issued a buy rating to the stock. The company has a consensus rating of “Hold” and an average target price of $103.63.

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Shares of Canadian Imperial Bank of Commerce (CM) opened at 84.88 on Friday. Canadian Imperial Bank of Commerce has a 12-month low of $72.62 and a 12-month high of $92.22. The company has a market capitalization of $34.09 billion, a P/E ratio of 8.98 and a beta of 1.09. The stock’s 50 day moving average is $85.17 and its 200-day moving average is $83.97.

A number of large investors have recently made changes to their positions in the company. Vanguard Group Inc. boosted its stake in shares of Canadian Imperial Bank of Commerce by 16.4% in the second quarter. Vanguard Group Inc. now owns 9,859,474 shares of the bank’s stock valued at $800,194,000 after buying an additional 1,391,019 shares during the period. Dimensional Fund Advisors LP boosted its stake in shares of Canadian Imperial Bank of Commerce by 494.2% in the second quarter. Dimensional Fund Advisors LP now owns 1,426,039 shares of the bank’s stock valued at $115,738,000 after buying an additional 1,186,052 shares during the period. The Manufacturers Life Insurance Company boosted its stake in shares of Canadian Imperial Bank of Commerce by 63.3% in the second quarter. The Manufacturers Life Insurance Company now owns 2,876,904 shares of the bank’s stock valued at $233,390,000 after buying an additional 1,115,584 shares during the period. Intact Investment Management Inc. boosted its stake in shares of Canadian Imperial Bank of Commerce by 130.9% in the second quarter. Intact Investment Management Inc. now owns 1,635,780 shares of the bank’s stock valued at $172,117,000 after buying an additional 927,280 shares during the period. Finally, Goldman Sachs Group Inc. boosted its stake in shares of Canadian Imperial Bank of Commerce by 100.8% in the second quarter. Goldman Sachs Group Inc. now owns 1,813,405 shares of the bank’s stock valued at $147,176,000 after buying an additional 910,173 shares during the period. 48.46% of the stock is currently owned by institutional investors.

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 27th. Shareholders of record on Thursday, September 28th will be paid a dividend of $1.0329 per share. This represents a $4.13 annualized dividend and a yield of 4.87%. The ex-dividend date is Wednesday, September 27th. This is a boost from Canadian Imperial Bank of Commerce’s previous quarterly dividend of $0.94. Canadian Imperial Bank of Commerce’s payout ratio is 41.18%.

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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