Canadian Imperial Bank of Commerce (TSE:CM) (NYSE:CM) – Equities research analysts at Desjardins cut their FY2018 earnings per share estimates for shares of Canadian Imperial Bank of Commerce in a research note issued on Monday. Desjardins analyst D. Young now forecasts that the company will post earnings per share of $11.10 for the year, down from their prior forecast of $11.15. Desjardins also issued estimates for Canadian Imperial Bank of Commerce’s FY2019 earnings at $11.55 EPS.

Other equities research analysts also recently issued research reports about the stock. Barclays PLC upped their target price on shares of Canadian Imperial Bank of Commerce from C$108.00 to C$110.00 in a research note on Friday, August 11th. BMO Capital Markets reiterated a “market perform” rating and issued a C$118.00 price target on shares of Canadian Imperial Bank of Commerce in a report on Friday, August 25th. TD Securities upgraded shares of Canadian Imperial Bank of Commerce from a “hold” rating to a “buy” rating and set a C$120.00 price target for the company in a report on Wednesday, September 6th. Scotiabank upped their price target on shares of Canadian Imperial Bank of Commerce from C$118.00 to C$120.00 and gave the company a “sector perform” rating in a report on Monday, August 21st. Finally, Canaccord Genuity reiterated a “buy” rating and issued a C$116.00 price target on shares of Canadian Imperial Bank of Commerce in a report on Friday, August 25th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and three have assigned a buy rating to the stock. The company has an average rating of “Hold” and an average price target of C$118.58.

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Canadian Imperial Bank of Commerce (TSE CM) traded down C$0.41 during trading hours on Wednesday, hitting C$114.19. 593,849 shares of the company’s stock traded hands, compared to its average volume of 992,249. Canadian Imperial Bank of Commerce has a fifty-two week low of C$99.00 and a fifty-two week high of C$120.83.

Canadian Imperial Bank of Commerce (TSE:CM) (NYSE:CM) last announced its earnings results on Thursday, August 24th. The company reported C$2.77 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of C$2.63 by C$0.14. The company had revenue of C$4.10 billion for the quarter, compared to analyst estimates of C$4.01 billion. Canadian Imperial Bank of Commerce had a return on equity of 16.50% and a net margin of 26.73%.

The firm also recently announced a quarterly dividend, which was paid on Friday, October 27th. Investors of record on Thursday, September 28th were issued a dividend of $1.30 per share. This is a boost from Canadian Imperial Bank of Commerce’s previous quarterly dividend of $1.27. The ex-dividend date of this dividend was Wednesday, September 27th. This represents a $5.20 annualized dividend and a yield of 4.55%.

In other news, Director Michelle Lynn Collins purchased 1,186 shares of the business’s stock in a transaction on Monday, August 28th. The stock was purchased at an average price of C$84.30 per share, for a total transaction of C$99,979.80. Also, Director Katharine Berghuis Stevenson purchased 400 shares of the business’s stock in a transaction on Tuesday, August 29th. The stock was purchased at an average price of C$105.19 per share, with a total value of C$42,076.00.

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 (TSE:CM)

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