Canadian Imperial Bank of Commerce (CM) Expected to Announce Earnings of $2.26 Per Share

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Equities analysts expect that Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) will announce earnings of $2.26 per share for the current quarter, Zacks Investment Research reports. Three analysts have issued estimates for Canadian Imperial Bank of Commerce’s earnings. The lowest EPS estimate is $2.20 and the highest is $2.32. Canadian Imperial Bank of Commerce reported earnings per share of $2.25 in the same quarter last year, which indicates a positive year-over-year growth rate of 0.4%. The business is scheduled to announce its next earnings report on Thursday, November 29th.

According to Zacks, analysts expect that Canadian Imperial Bank of Commerce will report full year earnings of $9.35 per share for the current year, with EPS estimates ranging from $9.28 to $9.41. For the next fiscal year, analysts anticipate that the business will post earnings of $9.69 per share, with EPS estimates ranging from $9.49 to $9.82. Zacks Investment Research’s EPS calculations are a mean average based on a survey of sell-side research firms that cover Canadian Imperial Bank of Commerce.

Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) last released its earnings results on Thursday, August 23rd. The bank reported $3.08 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $2.22 by $0.86. The company had revenue of $3.52 billion during the quarter, compared to analyst estimates of $3.39 billion. Canadian Imperial Bank of Commerce had a return on equity of 17.77% and a net margin of 21.27%. During the same quarter in the prior year, the company earned $2.77 earnings per share.

A number of analysts have recently issued reports on the company. ValuEngine upgraded Canadian Imperial Bank of Commerce from a “sell” rating to a “hold” rating in a report on Thursday. TheStreet upgraded Canadian Imperial Bank of Commerce from a “c” rating to a “b-” rating in a report on Thursday, August 23rd. Zacks Investment Research upgraded Canadian Imperial Bank of Commerce from a “hold” rating to a “buy” rating and set a $101.00 target price for the company in a report on Wednesday, May 16th. National Bank Financial lowered Canadian Imperial Bank of Commerce from an “outperform” rating to a “sector perform” rating in a report on Wednesday, May 23rd. Finally, Royal Bank of Canada reduced their target price on Canadian Imperial Bank of Commerce from $141.00 to $135.00 and set a “sector perform” rating for the company in a report on Thursday, May 24th. Two analysts have rated the stock with a sell rating, four have assigned a hold rating and six have assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and an average price target of $118.78.

CM opened at $94.62 on Tuesday. The firm has a market capitalization of $42.02 billion, a PE ratio of 10.03, a price-to-earnings-growth ratio of 1.83 and a beta of 1.15. Canadian Imperial Bank of Commerce has a 12-month low of $83.02 and a 12-month high of $100.01. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 0.12.

The business also recently declared a quarterly dividend, which will be paid on Monday, October 29th. Stockholders of record on Friday, September 28th will be paid a $1.0412 dividend. The ex-dividend date of this dividend is Thursday, September 27th. This is an increase from Canadian Imperial Bank of Commerce’s previous quarterly dividend of $1.04. This represents a $4.16 dividend on an annualized basis and a dividend yield of 4.40%. Canadian Imperial Bank of Commerce’s dividend payout ratio is 46.23%.

Several hedge funds and other institutional investors have recently bought and sold shares of the company. WESPAC Advisors SoCal LLC increased its stake 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 acquiring an additional 545 shares during the last quarter. First Allied Advisory Services Inc. increased its position in Canadian Imperial Bank of Commerce by 9.9% during 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. increased its position in Canadian Imperial Bank of Commerce by 17.1% during 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. increased its position in Canadian Imperial Bank of Commerce by 1.7% during 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 increased its position in Canadian Imperial Bank of Commerce by 20.6% during 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. 46.02% of the stock is currently owned by institutional investors and hedge funds.

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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