FY2018 EPS Estimates for Canadian Imperial Bank of Commerce Raised by Desjardins (CM)

Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) – Stock analysts at Desjardins boosted their FY2018 EPS estimates for Canadian Imperial Bank of Commerce in a research report issued on Thursday, August 23rd. Desjardins analyst D. Young now forecasts that the bank will post earnings per share of $9.36 for the year, up from their previous forecast of $9.14. Desjardins also issued estimates for Canadian Imperial Bank of Commerce’s Q4 2018 earnings at $2.26 EPS and FY2019 earnings at $9.69 EPS.

Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) last issued its quarterly earnings data on Thursday, August 23rd. The bank reported $3.08 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $2.22 by $0.86. Canadian Imperial Bank of Commerce had a return on equity of 17.77% and a net margin of 21.27%. The firm had revenue of $3.52 billion during the quarter, compared to the consensus estimate of $3.39 billion. During the same period in the previous year, the firm posted $2.77 EPS.

Other research analysts also recently issued reports about the company. TheStreet upgraded Canadian Imperial Bank of Commerce from a “c” rating to a “b-” rating in a research report on Thursday, August 23rd. Citigroup upgraded Canadian Imperial Bank of Commerce from a “neutral” rating to a “buy” rating in a research report on Wednesday, June 6th. CIBC upgraded Canadian Imperial Bank of Commerce to a “buy” rating and lifted their price objective for the stock from $125.00 to $130.00 in a research report on Wednesday, June 6th. Zacks Investment Research upgraded Canadian Imperial Bank of Commerce from a “hold” rating to a “buy” rating and set a $101.00 price objective for the company in a research report on Wednesday, May 16th. Finally, ValuEngine upgraded Canadian Imperial Bank of Commerce from a “sell” rating to a “hold” rating in a research report on Saturday, July 28th. Three equities research analysts have rated the stock with a sell rating, three have given a hold rating and six have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $118.78.

Shares of Canadian Imperial Bank of Commerce stock opened at $94.50 on Monday. The company has a debt-to-equity ratio of 0.12, a current ratio of 1.05 and a quick ratio of 1.05. Canadian Imperial Bank of Commerce has a 1 year low of $83.02 and a 1 year high of $100.01. The company has a market cap of $41.71 billion, a P/E ratio of 10.63, a P/E/G ratio of 1.83 and a beta of 1.15.

A number of hedge funds have recently added to or reduced their stakes in CM. Summit Trail Advisors LLC grew its stake in Canadian Imperial Bank of Commerce by 4,274.8% in the 1st quarter. Summit Trail Advisors LLC now owns 111,120 shares of the bank’s stock worth $111,000 after acquiring an additional 108,580 shares during the period. Optimum Investment Advisors purchased a new stake in Canadian Imperial Bank of Commerce in the 1st quarter worth approximately $122,000. Mawer Investment Management Ltd. purchased a new stake in Canadian Imperial Bank of Commerce in the 2nd quarter worth approximately $205,000. Laurion Capital Management LP purchased a new stake in Canadian Imperial Bank of Commerce in the 2nd quarter worth approximately $233,000. Finally, Advisor Partners LLC purchased a new stake in Canadian Imperial Bank of Commerce in the 1st quarter worth approximately $234,000. 46.02% of the stock is owned by hedge funds and other institutional investors.

The company also recently announced a quarterly dividend, which will be paid on Monday, October 29th. Shareholders of record on Friday, September 28th will be paid a $1.0412 dividend. This is a boost from Canadian Imperial Bank of Commerce’s previous quarterly dividend of $1.04. This represents a $4.16 annualized dividend and a yield of 4.41%. The ex-dividend date of this dividend is Thursday, September 27th. Canadian Imperial Bank of Commerce’s payout ratio is presently 46.23%.

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, the United States, and internationally. The company operates through four strategic business units: Canadian Personal and Small Business Banking; Canadian Commercial Banking and Wealth Management; U.S.

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

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