National Bank Financial Equities Analysts Reduce Earnings Estimates for Canadian Imperial Bank of Commerce (CM)

Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) – Investment analysts at National Bank Financial dropped their Q1 2019 earnings estimates for shares of Canadian Imperial Bank of Commerce in a report released on Monday, August 13th. National Bank Financial analyst G. Dechaine now anticipates that the bank will earn $2.50 per share for the quarter, down from their prior forecast of $2.50. National Bank Financial has a “Sector Perform” rating on the stock.

Other analysts also recently issued research reports about the stock. Zacks Investment Research downgraded shares of Canadian Imperial Bank of Commerce from a “hold” rating to a “sell” rating in a report on Tuesday, July 24th. ValuEngine raised shares of Canadian Imperial Bank of Commerce from a “sell” rating to a “hold” rating in a report on Saturday, July 28th. CIBC raised shares of Canadian Imperial Bank of Commerce to a “buy” rating and raised their price target for the company from $125.00 to $130.00 in a report on Wednesday, June 6th. Royal Bank of Canada dropped their price target on shares of Canadian Imperial Bank of Commerce from $141.00 to $135.00 and set a “sector perform” rating on the stock in a report on Thursday, May 24th. Finally, Citigroup raised shares of Canadian Imperial Bank of Commerce from a “neutral” rating to a “buy” rating in a report on Wednesday, June 6th. Three investment analysts have rated the stock with a sell rating, three have issued a hold rating and six have given a buy rating to the stock. The company presently has an average rating of “Hold” and an average price target of $118.78.

NYSE:CM opened at $91.52 on Thursday. The stock has a market cap of $40.25 billion, a price-to-earnings ratio of 10.29, a PEG ratio of 1.62 and a beta of 1.15. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.05 and a quick ratio of 1.05. Canadian Imperial Bank of Commerce has a fifty-two week low of $83.02 and a fifty-two week high of $100.01.

Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) last released its quarterly earnings data on Wednesday, May 23rd. The bank reported $2.95 earnings per share for the quarter, beating analysts’ consensus estimates of $2.21 by $0.74. The business had revenue of $4.41 billion during the quarter, compared to analyst estimates of $4.38 billion. Canadian Imperial Bank of Commerce had a net margin of 21.28% and a return on equity of 17.55%. Canadian Imperial Bank of Commerce’s revenue was up 15.3% compared to the same quarter last year. During the same period last year, the business earned $2.64 EPS.

Several institutional investors and hedge funds have recently bought and sold shares of the stock. WESPAC Advisors SoCal LLC boosted its holdings in shares of Canadian Imperial Bank of Commerce by 1.1% in the second quarter. WESPAC Advisors SoCal LLC now owns 48,330 shares of the bank’s stock worth $4,200,000 after buying an additional 545 shares during the last quarter. First Allied Advisory Services Inc. boosted its holdings in shares of Canadian Imperial Bank of Commerce by 9.9% in the second quarter. First Allied Advisory Services Inc. now owns 6,320 shares of the bank’s stock worth $548,000 after buying an additional 571 shares during the last quarter. Comerica Securities Inc. boosted its holdings in shares of Canadian Imperial Bank of Commerce by 17.1% in the first quarter. Comerica Securities Inc. now owns 4,160 shares of the bank’s stock worth $372,000 after buying an additional 607 shares during the last quarter. Baird Financial Group Inc. boosted its holdings in shares of Canadian Imperial Bank of Commerce by 1.7% in the first quarter. Baird Financial Group Inc. now owns 39,334 shares of the bank’s stock worth $3,472,000 after buying an additional 658 shares during the last quarter. Finally, Grove Bank & Trust boosted its holdings in shares of Canadian Imperial Bank of Commerce by 20.6% in the first quarter. Grove Bank & Trust now owns 4,090 shares of the bank’s stock worth $361,000 after buying an additional 699 shares during the last quarter. 44.81% of the stock is currently owned by institutional investors.

The firm also recently disclosed a quarterly dividend, which was paid on Friday, July 27th. Investors of record on Thursday, June 28th were issued a $1.036 dividend. This represents a $4.14 dividend on an annualized basis and a dividend yield of 4.53%. The ex-dividend date was Wednesday, June 27th. Canadian Imperial Bank of Commerce’s payout ratio is 46.23%.

About Canadian Imperial Bank of Commerce

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.

Further Reading: Fundamental Analysis

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

Receive News & Ratings for Canadian Imperial Bank of Commerce Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Canadian Imperial Bank of Commerce and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply