Canadian Imperial Bank of Commerce (TSE:CM) (NYSE:CM) – Research analysts at Cormark lifted their FY2018 earnings per share (EPS) estimates for Canadian Imperial Bank of Commerce in a note issued to investors on Friday. Cormark analyst M. Grauman now expects that the company will post earnings per share of $11.19 for the year, up from their prior forecast of $11.17. Cormark also issued estimates for Canadian Imperial Bank of Commerce’s FY2019 earnings at $11.88 EPS.

Canadian Imperial Bank of Commerce (TSE:CM) (NYSE:CM) last issued its earnings results on Thursday, August 24th. The company reported C$2.77 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of C$2.63 by C$0.14. Canadian Imperial Bank of Commerce had a return on equity of 16.50% and a net margin of 26.73%. The firm had revenue of C$4.10 billion for the quarter, compared to analysts’ expectations of C$4.01 billion. COPYRIGHT VIOLATION NOTICE: This piece was published by The Cerbat Gem and is the sole property of of The Cerbat Gem. If you are viewing this piece on another domain, it was illegally copied and reposted in violation of United States & international copyright law. The legal version of this piece can be accessed at https://www.thecerbatgem.com/2017/11/21/equities-analysts-issue-forecasts-for-canadian-imperial-bank-of-commerces-fy2018-earnings-cm.html.

Other equities research analysts have also recently issued reports about the company. Barclays PLC boosted their price objective on Canadian Imperial Bank of Commerce from C$108.00 to C$110.00 in a research note on Friday, August 11th. Keefe, Bruyette & Woods boosted their price objective on Canadian Imperial Bank of Commerce from C$115.00 to C$116.00 in a research note on Tuesday, August 22nd. Canaccord Genuity set a C$121.00 price objective on Canadian Imperial Bank of Commerce in a research note on Wednesday, November 1st. TD Securities raised Canadian Imperial Bank of Commerce from a “hold” rating to a “buy” rating and set a C$120.00 price objective on the stock in a research note on Wednesday, September 6th. Finally, BMO Capital Markets reissued a “market perform” rating and set a C$118.00 price objective on shares of Canadian Imperial Bank of Commerce in a research note on Friday, August 25th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and three have issued a buy rating to the stock. Canadian Imperial Bank of Commerce presently has a consensus rating of “Hold” and an average target price of C$119.18.

Shares of Canadian Imperial Bank of Commerce (CM) traded down C$0.01 during midday trading on Monday, reaching C$115.09. The company’s stock had a trading volume of 1,048,069 shares, compared to its average volume of 1,343,453. Canadian Imperial Bank of Commerce has a 52 week low of C$103.84 and a 52 week high of C$120.83.

The firm also recently announced a quarterly dividend, which was paid on Friday, October 27th. Shareholders of record on Thursday, September 28th were given a dividend of $1.30 per share. This represents a $5.20 annualized dividend and a dividend yield of 4.52%. The ex-dividend date of this dividend was Wednesday, September 27th. This is a positive change from Canadian Imperial Bank of Commerce’s previous quarterly dividend of $1.27. Canadian Imperial Bank of Commerce’s payout ratio is 45.36%.

In other news, Director Michelle Lynn Collins purchased 1,186 shares of the stock in a transaction that occurred 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 stock in a transaction that occurred 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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