Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) issued its earnings results on Thursday. The bank reported $2.84 earnings per share for the quarter, beating the Zacks’ consensus estimate of $2.32 by $0.52, Briefing.com reports. Canadian Imperial Bank of Commerce had a return on equity of 15.92% and a net margin of 18.39%. The firm had revenue of $4.77 billion for the quarter, compared to analysts’ expectations of $4.76 billion. During the same quarter last year, the firm earned $3.00 earnings per share. The firm’s revenue for the quarter was up 7.2% compared to the same quarter last year.
Canadian Imperial Bank of Commerce stock traded up $0.33 during midday trading on Friday, reaching $82.94. The stock had a trading volume of 13,342 shares, compared to its average volume of 444,368. Canadian Imperial Bank of Commerce has a twelve month low of $72.96 and a twelve month high of $87.62. The stock has a market capitalization of $36.87 billion, a PE ratio of 8.89, a price-to-earnings-growth ratio of 2.91 and a beta of 1.17. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.87 and a current ratio of 0.87. The stock’s 50-day simple moving average is $86.14 and its 200 day simple moving average is $80.66.
A number of research analysts recently weighed in on CM shares. ValuEngine cut Canadian Imperial Bank of Commerce from a “hold” rating to a “sell” rating in a report on Monday, November 25th. BMO Capital Markets reiterated a “hold” rating on shares of Canadian Imperial Bank of Commerce in a report on Friday, August 23rd. National Bank Financial reiterated a “hold” rating on shares of Canadian Imperial Bank of Commerce in a report on Friday, August 23rd. Zacks Investment Research upgraded Canadian Imperial Bank of Commerce from a “hold” rating to a “buy” rating and set a $97.00 target price on the stock in a report on Tuesday. Finally, Barclays reiterated a “hold” rating on shares of Canadian Imperial Bank of Commerce in a report on Thursday, August 22nd. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and one has given a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus target price of $122.50.
Canadian Imperial Bank of Commerce, a diversified financial institution, provides various financial products and services to personal, business, public sector, 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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