Canadian Imperial Bank of Commerce (CM) to Post FY2018 Earnings of $11.11 Per Share, Desjardins Forecasts

Canadian Imperial Bank of Commerce (TSE:CM) (NYSE:CM) – Equities researchers at Desjardins decreased their FY2018 EPS estimates for shares of Canadian Imperial Bank of Commerce in a research report issued to clients and investors on Wednesday. Desjardins analyst D. Young now anticipates that the company will post earnings of $11.11 per share for the year, down from their previous estimate of $11.20. Desjardins also issued estimates for Canadian Imperial Bank of Commerce’s FY2019 earnings at $11.20 EPS.

Several other equities analysts also recently commented on the company. Royal Bank of Canada raised their target price on Canadian Imperial Bank of Commerce from C$119.00 to C$128.00 and gave the stock a “sector perform” rating in a research report on Friday, December 1st. Citigroup downgraded Canadian Imperial Bank of Commerce from a “buy” rating to a “neutral” rating and raised their target price for the stock from C$113.00 to C$120.00 in a research report on Wednesday, October 25th. CSFB raised their target price on Canadian Imperial Bank of Commerce from C$116.00 to C$125.00 and gave the stock an “outperform” rating in a research report on Friday, December 1st. Canaccord Genuity set a C$121.00 target price on Canadian Imperial Bank of Commerce in a research report on Wednesday, November 1st. Finally, Scotiabank lifted their price objective on Canadian Imperial Bank of Commerce from C$128.00 to C$135.00 in a research report on Friday, December 1st. Five equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. The stock has an average rating of “Buy” and a consensus target price of C$124.92.

Canadian Imperial Bank of Commerce (TSE CM) traded up C$1.24 during trading on Monday, hitting C$121.65. The company had a trading volume of 1,683,459 shares, compared to its average volume of 1,355,862. Canadian Imperial Bank of Commerce has a 1-year low of C$103.84 and a 1-year high of C$122.56.

In other Canadian Imperial Bank of Commerce news, Director Laura Lee Dottori-Attanasio sold 11,928 shares of Canadian Imperial Bank of Commerce stock in a transaction on Thursday, December 14th. The stock was sold at an average price of C$119.55, for a total value of C$1,425,992.40.

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, January 29th. Shareholders of record on Thursday, December 28th will be given a $1.30 dividend. The ex-dividend date is Wednesday, December 27th. This represents a $5.20 annualized dividend and a yield of 4.27%. Canadian Imperial Bank of Commerce’s payout ratio is 45.08%.

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About Canadian Imperial Bank of Commerce

Canadian Imperial Bank of Commerce (CIBC) is a global financial institution. The Company provides a range of financial products and services to approximately 11 million individual, small business, commercial, corporate and institutional clients in Canada and around the world. The Company operates through three segments: Retail and Business Banking, Wealth Management and Capital Markets.

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

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