Wall Street brokerages forecast that Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) will post earnings of $2.10 per share for the current fiscal quarter, Zacks reports. Three analysts have made estimates for Canadian Imperial Bank of Commerce’s earnings, with the lowest EPS estimate coming in at $2.05 and the highest estimate coming in at $2.15. Canadian Imperial Bank of Commerce reported earnings of $1.98 per share in the same quarter last year, which would indicate a positive year-over-year growth rate of 6.1%. The firm is expected to report its next earnings results before the market opens on Thursday, November 30th.

On average, analysts expect that Canadian Imperial Bank of Commerce will report full-year earnings of $8.73 per share for the current year, with EPS estimates ranging from $8.67 to $8.79. For the next year, analysts anticipate that the company will post earnings of $8.87 per share, with EPS estimates ranging from $8.72 to $8.94. Zacks’ earnings per share calculations are a mean average based on a survey of research firms that cover Canadian Imperial Bank of Commerce.

Several analysts have weighed in on the company. BidaskClub upgraded Canadian Imperial Bank of Commerce from a “hold” rating to a “buy” rating in a research note on Thursday, July 13th. TD Securities upgraded Canadian Imperial Bank of Commerce from a “hold” rating to a “buy” rating and set a $120.00 price target on the stock in a research note on Wednesday, September 6th. Canaccord Genuity set a $117.00 price target on Canadian Imperial Bank of Commerce and gave the company a “buy” rating in a research note on Thursday, August 24th. Zacks Investment Research upgraded Canadian Imperial Bank of Commerce from a “hold” rating to a “buy” rating and set a $95.00 price target on the stock in a research note on Tuesday, July 18th. Finally, Citigroup Inc. downgraded Canadian Imperial Bank of Commerce from a “buy” rating to a “neutral” rating and set a $120.00 price target on the stock. in a research note on Wednesday, October 25th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and two have assigned a buy rating to the stock. The stock presently has an average rating of “Hold” and an average target price of $108.20.

Shares of Canadian Imperial Bank of Commerce (NYSE:CM) opened at $89.76 on Wednesday. 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 firm has a market capitalization of $39,301.96, a PE ratio of 10.94, a price-to-earnings-growth ratio of 3.35 and a beta of 1.11. Canadian Imperial Bank of Commerce has a one year low of $73.59 and a one year high of $92.22.

The business also recently announced a quarterly dividend, which was paid on Friday, October 27th. Stockholders of record on Thursday, September 28th were paid a $1.0329 dividend. This is an increase from Canadian Imperial Bank of Commerce’s previous quarterly dividend of $0.94. The ex-dividend date of this dividend was Wednesday, September 27th. This represents a $4.13 dividend on an annualized basis and a dividend yield of 4.60%. Canadian Imperial Bank of Commerce’s dividend payout ratio is presently 48.74%.

Several institutional investors and hedge funds have recently modified their holdings of CM. Ameriprise Financial Inc. boosted its stake in shares of Canadian Imperial Bank of Commerce by 22.6% in the first quarter. Ameriprise Financial Inc. now owns 10,757 shares of the bank’s stock worth $927,000 after buying an additional 1,982 shares during the last quarter. PNC Financial Services Group Inc. boosted its stake in shares of Canadian Imperial Bank of Commerce by 0.4% in the first quarter. PNC Financial Services Group Inc. now owns 5,627 shares of the bank’s stock worth $485,000 after buying an additional 21 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of Canadian Imperial Bank of Commerce by 4.3% in the first quarter. Dimensional Fund Advisors LP now owns 239,987 shares of the bank’s stock worth $20,689,000 after buying an additional 9,819 shares during the last quarter. Gotham Asset Management LLC boosted its stake in shares of Canadian Imperial Bank of Commerce by 34.2% in the first quarter. Gotham Asset Management LLC now owns 3,917 shares of the bank’s stock worth $338,000 after buying an additional 999 shares during the last quarter. Finally, Fox Run Management L.L.C. purchased a new stake in shares of Canadian Imperial Bank of Commerce in the second quarter worth about $625,000. Hedge funds and other institutional investors own 46.24% of the company’s stock.

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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.

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

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