FY2019 EPS Estimates for Canadian Imperial Bank of Commerce (CM) Lowered by Desjardins

Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) – Analysts at Desjardins dropped their FY2019 earnings per share (EPS) estimates for Canadian Imperial Bank of Commerce in a research note issued to investors on Wednesday, May 22nd. Desjardins analyst D. Young now forecasts that the bank will post earnings per share of $9.03 for the year, down from their prior estimate of $9.09. Desjardins currently has a “Hold” rating on the stock. Desjardins also issued estimates for Canadian Imperial Bank of Commerce’s FY2020 earnings at $9.55 EPS.

Other research analysts have also recently issued reports about the company. Canaccord Genuity reissued an “average” rating and set a $125.00 price objective on shares of Canadian Imperial Bank of Commerce in a report on Wednesday, February 20th. Zacks Investment Research cut Canadian Imperial Bank of Commerce from a “hold” rating to a “sell” rating in a report on Tuesday, April 23rd. BMO Capital Markets reissued a “hold” rating on shares of Canadian Imperial Bank of Commerce in a report on Thursday. ValuEngine cut Canadian Imperial Bank of Commerce from a “hold” rating to a “sell” rating in a report on Friday, March 1st. Finally, Scotiabank reissued an “average” rating and set a $126.00 price objective on shares of Canadian Imperial Bank of Commerce in a report on Friday, February 22nd. Two investment analysts have rated the stock with a sell rating, six have given a hold rating and two have given a buy rating to the company’s stock. Canadian Imperial Bank of Commerce has a consensus rating of “Hold” and a consensus target price of $123.83.

Shares of NYSE CM opened at $77.84 on Friday. The firm has a market cap of $37.11 billion, a price-to-earnings ratio of 8.33, a P/E/G ratio of 5.11 and a beta of 1.16. Canadian Imperial Bank of Commerce has a 52-week low of $72.96 and a 52-week high of $96.98. The company has a debt-to-equity ratio of 0.12, a current ratio of 1.06 and a quick ratio of 1.06.

Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) last issued its quarterly earnings data on Wednesday, May 22nd. The bank reported $2.97 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $2.22 by $0.75. The company had revenue of $3.41 billion during the quarter, compared to analysts’ expectations of $3.36 billion. Canadian Imperial Bank of Commerce had a return on equity of 16.17% and a net margin of 19.44%. During the same period last year, the business earned $2.95 earnings per share.

The firm also recently announced a quarterly dividend, which will be paid on Monday, July 29th. Stockholders of record on Friday, June 28th will be paid a $1.04 dividend. The ex-dividend date of this dividend is Thursday, June 27th. This represents a $4.16 dividend on an annualized basis and a dividend yield of 5.34%. Canadian Imperial Bank of Commerce’s dividend payout ratio (DPR) is presently 45.50%.

Several large investors have recently made changes to their positions in the company. Advisory Services Network LLC increased its stake in shares of Canadian Imperial Bank of Commerce by 244.2% in the first quarter. Advisory Services Network LLC now owns 1,525 shares of the bank’s stock valued at $121,000 after buying an additional 1,082 shares in the last quarter. BlueCrest Capital Management Ltd acquired a new stake in shares of Canadian Imperial Bank of Commerce in the first quarter valued at $1,472,000. Ladenburg Thalmann Financial Services Inc. increased its stake in shares of Canadian Imperial Bank of Commerce by 23.0% in the first quarter. Ladenburg Thalmann Financial Services Inc. now owns 6,229 shares of the bank’s stock valued at $494,000 after buying an additional 1,165 shares in the last quarter. Man Group plc increased its stake in shares of Canadian Imperial Bank of Commerce by 8.0% in the first quarter. Man Group plc now owns 280,100 shares of the bank’s stock valued at $22,140,000 after buying an additional 20,653 shares in the last quarter. Finally, M&T Bank Corp increased its stake in shares of Canadian Imperial Bank of Commerce by 3.0% in the first quarter. M&T Bank Corp now owns 12,612 shares of the bank’s stock valued at $998,000 after buying an additional 362 shares in the last quarter. Institutional investors own 45.93% of the company’s stock.

Canadian Imperial Bank of Commerce Company Profile

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

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