Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) – Stock analysts at Desjardins increased their Q3 2017 EPS estimates for Canadian Imperial Bank of Commerce in a research report issued on Thursday. Desjardins analyst D. Young now anticipates that the bank will post earnings of $2.22 per share for the quarter, up from their prior estimate of $2.01. Desjardins also issued estimates for Canadian Imperial Bank of Commerce’s Q4 2017 earnings at $2.10 EPS, FY2017 earnings at $8.74 EPS and FY2018 earnings at $8.92 EPS.

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CM has been the subject of a number of other research reports. Zacks Investment Research upgraded Canadian Imperial Bank of Commerce from a “sell” rating to a “hold” rating in a research note on Tuesday, July 4th. BidaskClub upgraded Canadian Imperial Bank of Commerce from a “strong sell” rating to a “sell” rating in a research note on Tuesday, June 13th. Finally, Canaccord Genuity began coverage on Canadian Imperial Bank of Commerce in a research note on Tuesday, July 18th. They set a “buy” rating for the company. One equities 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’s stock. Canadian Imperial Bank of Commerce presently has a consensus rating of “Hold” and a consensus price target of $102.43.

Shares of Canadian Imperial Bank of Commerce (NYSE:CM) opened at 84.88 on Friday. Canadian Imperial Bank of Commerce has a 52 week low of $72.62 and a 52 week high of $92.22. The firm has a market capitalization of $37.00 billion, a PE ratio of 9.80 and a beta of 1.09. The stock has a 50 day moving average of $85.17 and a 200-day moving average of $83.97.

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Northwestern Mutual Wealth Management Co. boosted its position in 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 position in Canadian Imperial Bank of Commerce during the second quarter valued at $125,000. Opera Trading Capital acquired a new position in Canadian Imperial Bank of Commerce during the second quarter valued at $136,000. Nationwide Fund Advisors acquired a new position in Canadian Imperial Bank of Commerce during the second quarter valued at $138,000. Finally, Parallel Advisors LLC boosted its position in 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. Hedge funds and other institutional investors own 48.46% of the company’s stock.

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 27th. Stockholders of record on Thursday, September 28th will be paid a $1.0329 dividend. The ex-dividend date is Wednesday, September 27th. This represents a $4.13 annualized dividend and a dividend yield of 4.87%. 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 currently 45.25%.

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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