Canadian Imperial Bank of Commerce Forecasted to Earn Q4 2017 Earnings of $2.57 Per Share (TSE:CM)

Canadian Imperial Bank of Commerce (TSE:CM) (NYSE:CM) – Equities researchers at National Bank Financial raised their Q4 2017 earnings per share (EPS) estimates for Canadian Imperial Bank of Commerce in a research note issued to investors on Monday, Zacks Investment Research reports. National Bank Financial analyst G. Dechaine now forecasts that the company will earn $2.57 per share for the quarter, up from their previous forecast of $2.56. National Bank Financial has a “Outperform” rating and a $133.00 price target on the stock. National Bank Financial also issued estimates for Canadian Imperial Bank of Commerce’s Q1 2018 earnings at $2.79 EPS, Q3 2018 earnings at $2.84 EPS, FY2018 earnings at $11.19 EPS and FY2019 earnings at $11.81 EPS.

A number of other brokerages have also weighed in on CM. Royal Bank Of Canada upped their price target on shares of Canadian Imperial Bank of Commerce from C$119.00 to C$128.00 and gave the stock a “sector perform” rating in a research note on Friday, December 1st. CSFB upped their price target on shares of Canadian Imperial Bank of Commerce from C$116.00 to C$125.00 and gave the stock an “outperform” rating in a research note on Friday, December 1st. Canaccord Genuity set a C$126.00 price target on shares of Canadian Imperial Bank of Commerce in a research note on Friday, December 1st. Barclays increased their target price on shares of Canadian Imperial Bank of Commerce from C$110.00 to C$119.00 in a research note on Friday, December 1st. Finally, Scotiabank increased their target price on shares of Canadian Imperial Bank of Commerce from C$128.00 to C$135.00 in a research note on Friday, December 1st. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and four have issued a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus target price of C$124.92.

Shares of Canadian Imperial Bank of Commerce (CM) traded up C$0.46 during trading hours on Wednesday, hitting C$119.46. 1,248,868 shares of the stock were exchanged, compared to its average volume of 1,350,417. Canadian Imperial Bank of Commerce has a 12 month low of C$103.84 and a 12 month high of C$122.56.

The company also recently declared a quarterly dividend, which will be paid on Monday, January 29th. Stockholders of record on Thursday, December 28th will be issued a dividend of $1.30 per share. The ex-dividend date of this dividend is Wednesday, December 27th. This represents a $5.20 dividend on an annualized basis and a dividend yield of 4.35%. Canadian Imperial Bank of Commerce’s dividend payout ratio is currently 45.08%.

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Canadian Imperial Bank of Commerce Company Profile

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.

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

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