Canadian Imperial Bank of Commerce (CM) Set to Announce Earnings on Thursday

Canadian Imperial Bank of Commerce (TSE:CM) (NYSE:CM) will be posting its quarterly earnings results before the market opens on Thursday, December 5th. Analysts expect Canadian Imperial Bank of Commerce to post earnings of C$1.75 per share for the quarter.

Canadian Imperial Bank of Commerce (TSE:CM) (NYSE:CM) last issued its quarterly earnings results on Thursday, August 29th. The company reported C$1.93 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of C$1.75 by C$0.18. Canadian Imperial Bank of Commerce had a return on equity of 12.37% and a net margin of 29.56%. The company had revenue of C$6.60 billion for the quarter, compared to the consensus estimate of C$6.31 billion.

Canadian Imperial Bank of Commerce Stock Down 0.4 %

CM opened at C$90.70 on Thursday. Canadian Imperial Bank of Commerce has a twelve month low of C$51.60 and a twelve month high of C$92.17. The company has a market cap of C$85.71 billion, a PE ratio of 13.13, a price-to-earnings-growth ratio of 3.03 and a beta of 1.12. The company has a 50-day moving average price of C$86.21 and a 200 day moving average price of C$75.20.

Canadian Imperial Bank of Commerce Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, October 28th. Stockholders of record on Friday, September 27th were paid a $0.90 dividend. The ex-dividend date was Friday, September 27th. This represents a $3.60 annualized dividend and a dividend yield of 3.97%. Canadian Imperial Bank of Commerce’s dividend payout ratio (DPR) is 52.10%.

Insiders Place Their Bets

In related news, Senior Officer Hratch Dikran Panossian sold 5,530 shares of Canadian Imperial Bank of Commerce stock in a transaction on Thursday, September 5th. The stock was sold at an average price of C$79.89, for a total transaction of C$441,791.70. Also, Senior Officer Shawn Beber sold 10,000 shares of the business’s stock in a transaction that occurred on Tuesday, September 10th. The shares were sold at an average price of C$81.80, for a total transaction of C$817,960.00. Insiders have sold 203,057 shares of company stock worth $16,823,249 in the last ninety days. Insiders own 0.02% of the company’s stock.

Analyst Ratings Changes

CM has been the topic of a number of recent research reports. BMO Capital Markets upped their target price on shares of Canadian Imperial Bank of Commerce from C$81.00 to C$99.00 in a research note on Monday, November 18th. Canaccord Genuity Group upped their price target on Canadian Imperial Bank of Commerce from C$81.00 to C$92.00 in a research note on Tuesday, November 19th. Desjardins increased their target price on Canadian Imperial Bank of Commerce from C$77.00 to C$83.00 and gave the stock a “buy” rating in a research note on Friday, August 30th. Barclays raised their price objective on shares of Canadian Imperial Bank of Commerce from C$71.00 to C$77.00 and gave the company an “underweight” rating in a research note on Friday, August 30th. Finally, Royal Bank of Canada upped their target price on Canadian Imperial Bank of Commerce from C$69.00 to C$74.00 and gave the company a “sector perform” rating in a report on Friday, August 30th. One research analyst has rated the stock with a sell rating, three have given a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of C$87.17.

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 Canadian Personal and Business Banking; Canadian Commercial Banking and Wealth Management; U.S.