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Analysts Issue Fiscal 2021 Earnings Forecast for Canadian Imperial Bank of Commerce (TSE: CM)

Canadian Imperial Bank of Commerce (TSE: CM) (NYSE: CM) – National Bank Financial announced in an on Monday the 14. National Bank financial analyst G. Dechaine now expects the company for the year 13.85 Will earn $ 13.49 per share, up from its previous forecast of $ 13.49. National Bank Financial has an “Outperform” rating and a price target of $ 159.00 on the stock. National Bank Financial also released estimates of the Canadian Imperial Bank of Commerce’s 2022 earnings of $ 14.50 EPS.

A number of other brokers have also commented on CM. Fundamental Research raised its target price for the Canadian Imperial Bank of Commerce from CAD 115.36 to CAD 135.48 and gave the company a “Buy” research note on Tuesday, March 2nd. The Royal Bank of Canada raised its target price for the Canadian Imperial Bank of Commerce from $ 141.00 to $ 157.00 and rated the company as “outperform” in a research note on Friday, May 28th. Cormark raised its target price for the Canadian Imperial Bank of Commerce from CAD 144.00 to CAD 147.00 and rated the company “na” in a research note on Monday, May 31st. Canaccord Genuity raised its target price for the Canadian Imperial Bank of Commerce from $ 138.00 to $ 149.00 and rated the company a “Buy” in a research note on Friday, May 28th. Finally, TD Securities raised its target price for the Canadian Imperial Bank of Commerce from CAD 145.00 to CAD 150.00 and gave the company a “Buy” rating in a research note on Friday, May 28th. One stock research analyst has given the stock a hold rating and ten a buy rating. The company currently has a consensus rating of “Buy” and an average price target of $ 152.62.

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Canadian Imperial Bank of Commerce stock opened Wednesday at $ 145.89. The company’s 50-day moving average price is $ 132.98. The Canadian Imperial Bank of Commerce has a 12-month low of $ 89.42 and a 12-month high of $ 146.07. The company has a market capitalization of $ 65.52 billion and a price / earnings ratio of 12.30. The Canadian Imperial Bank of Commerce (TSE: CM) (NYSE: CM) last announced its quarterly results on Thursday, May 27th. The company reported $ 3.59 EPS for the quarter, beating analysts’ consensus estimate of $ 2.82 by $ 0.77. The company posted revenue of $ 4.93 billion for the quarter, compared to the consensus estimate of $ 4.72 billion.

The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 28th. Shareholders of record on Monday June 28th will receive a dividend of $ 1.46 per share. The ex-dividend date is Friday June 25th. This equates to an annualized dividend of $ 5.84 and a yield of 4.00%. The Canadian Imperial Bank of Commerce’s payout ratio is currently 49.22%.

In other news from the Canadian Imperial Bank of Commerce, Senior Officer Christina Charlotte Kramer sold 18,727 shares in the company in a transaction on Friday, June 11. The stock was sold at an average price of $ 144.86 for a total transaction of $ 2,712,793.22. Following the transaction, the insider now directly owns 8,465 shares in the company valued at approximately C $ 1,226,239.90. In addition, Director Michael Capatides sold 54,243 shares in the company in one transaction on Monday May 31st. The stock was sold at an average price of C $ 142.64 for a total value of C $ 7,737,221.52. Following the transaction, the director now owns 13,599 shares in the company valued at C $ 1,939,761.36. Insiders have sold a total of 110,470 shares in the company for $ 15,881,990 in the past 90 days.

Via the Canadian Imperial Bank of Commerce

Canadian Imperial Bank of Commerce, a diversified financial institution, provides a variety of financial products and services to retail, business, public and institutional clients in Canada, the United States and internationally. The company operates through four strategic business units: Canadian Personal and Business Banking; Canadian Commercial Banking and Wealth Management; US

Further reading: Why would analysts give stocks a buy rating?

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