Canadian Imperial Bank of Commerce (TSE:CM) (NYSE:CM) – Investment analysts at Desjardins raised their Q3 2017 earnings per share estimates for shares of Canadian Imperial Bank of Commerce in a research report issued to clients and investors on Thursday. Desjardins analyst D. Young now anticipates that the company will post earnings per share of $2.77 for the quarter, up from their previous forecast of $2.55. Desjardins also issued estimates for Canadian Imperial Bank of Commerce’s Q4 2017 earnings at $2.62 EPS, FY2017 earnings at $10.92 EPS and FY2018 earnings at $11.15 EPS.

Canadian Imperial Bank of Commerce (TSE:CM) (NYSE:CM) last issued its quarterly earnings results on Thursday, August 24th. The company reported $2.77 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.63 by $0.14. The business had revenue of $4.10 billion during the quarter, compared to analysts’ expectations of $4.01 billion. Canadian Imperial Bank of Commerce had a return on equity of 17.23% and a net margin of 28.39%.

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CM has been the subject of a number of other reports. Barclays PLC reissued an “underweight” rating and issued a C$117.00 price objective on shares of Canadian Imperial Bank of Commerce in a research note on Thursday, May 4th. National Bank Financial reduced their price objective on shares of Canadian Imperial Bank of Commerce from C$130.00 to C$125.00 and set an “outperform” rating for the company in a research note on Friday, May 26th. Royal Bank Of Canada reissued a “sector perform” rating and issued a C$119.00 price objective on shares of Canadian Imperial Bank of Commerce in a research note on Friday, May 26th. Scotiabank reduced their price objective on shares of Canadian Imperial Bank of Commerce from C$120.00 to C$118.00 and set a “sector perform” rating for the company in a research note on Friday, May 26th. Finally, Keefe, Bruyette & Woods increased their price objective on shares of Canadian Imperial Bank of Commerce from C$115.00 to C$116.00 in a research note on Tuesday, August 22nd. One analyst has rated the stock with a sell rating, six have given a hold rating and three have issued a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus price target of C$118.64.

Shares of Canadian Imperial Bank of Commerce (TSE CM) opened at 105.92 on Friday. The company has a 50 day moving average price of $107.49 and a 200 day moving average price of $110.63. Canadian Imperial Bank of Commerce has a 52 week low of $97.52 and a 52 week high of $120.83. The company has a market capitalization of $46.18 billion and a PE ratio of 9.63.

In other news, insider Sandy Sharman sold 6,786 shares of the stock in a transaction on Friday, June 16th. The shares were sold at an average price of C$106.10, for a total value of C$719,994.60.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 27th. Shareholders of record on Thursday, September 28th will be given a dividend of $1.30 per share. This represents a $5.20 annualized dividend and a yield of 4.91%. This is a positive change from Canadian Imperial Bank of Commerce’s previous quarterly dividend of $1.27.

Canadian Imperial Bank of Commerce Company Profile

Canadian Imperial Bank of Commerce, a diversified financial institution, provides various financial products and services to individual, small business, commercial, corporate, and institutional clients in Canada and internationally. It operates through three business units: Retail and Business Banking, Wealth Management, and Capital Markets.

Earnings History and Estimates for Canadian Imperial Bank of Commerce (TSE:CM)

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