National Bank financial analysts raise earnings estimates for Canada’s Imperial Bank of Commerce (NYSE: CM)
Canadian Imperial Bank of Commerce (NYSE: CM) (TSE: CM) – Research analysts at National Bank Financial released their FY 2021 EPS estimates for shares in the Canadian Imperial Bank of Commerce in an on Monday, June 14th, Note issued to investors increased. National Bank financial analyst G. Dechaine now predicts the bank will post earnings of $ 11.50 per share for the year, up from its previous forecast of $ 11.20. National Bank Financial also released estimates for the Canadian Imperial Bank of Commerce’s fiscal 2022 earnings of $ 12.04 per share.
Several other research analysts have also recently commented on CM. CIBC raised its target price for the Canadian Imperial Bank of Commerce from CAD 156.00 to CAD 159.00 and rated the stock as “outperform” in a report on Tuesday. Scotiabank confirmed an “outperform” rating for shares in Canada’s Imperial Bank of Commerce in a report on Monday March 1st. Barclays raised its target price on the Canadian Imperial Bank of Commerce from $ 124.00 to $ 128.00 and rated the company as “overweight” in a report dated Tuesday, February 16. Credit Suisse Group raised its target price for the Canadian Imperial Bank of Commerce from USD 131.00 to USD 142.00 and rated the company as “neutral” in a report on Friday, May 28th. Finally, TD Securities reiterated a “buy” rating on shares in Canada’s Imperial Bank of Commerce in a report dated Friday, February 26th. Two research analysts for stocks have given the stock a hold rating and ten a buy rating. The stock currently has an average Buy rating and a consensus price target of $ 128.38.
CM opened at $ 119.82 on Wednesday. The company’s fifty-day moving average price is $ 108.74. The stock has a market cap of $ 53.81 billion, a P / E of 13.20, a P / E of 1.00, and a beta of 1.12. The Canadian Imperial Bank of Commerce has a 52-week low of $ 65.22 and a 52-week high of $ 120.65. The company has a leverage ratio of 0.14, a current ratio of 1.03, and a quick ratio of 1.03. The Canadian Imperial Bank of Commerce (NYSE: CM) (TSE: CM) last released its quarterly earnings data on Wednesday May 26th. The bank reported earnings per share (EPS) for the quarter of $ 3.59, beating the consensus estimate of $ 3.03 by $ 0.56. The Canadian Imperial Bank of Commerce had a return on equity of 15.27% and a net margin of 23.76%. The company had revenue of $ 4.93 billion for the quarter, compared to analyst estimates of $ 4.97 billion. In the same period last year, the company earned $ 0.94 EPS. The company’s revenue for the quarter increased 7.7% year over year.
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The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 28th. Shareholders of record on Monday, June 28, will receive a dividend of $ 1,2051 per share. The ex-dividend date is Friday June 25th. This equates to an annual dividend of $ 4.82 and a yield of 4.02%. This is a boost from the Canadian Imperial Bank of Commerce’s previous quarterly dividend of $ 1.17. The Canadian Imperial Bank of Commerce’s payout ratio is currently 45.77%.
A number of institutional investors and hedge funds have recently changed their holdings in the business. Toronto Dominion Bank increased its position in Canada’s Imperial Bank of Commerce by 11.5% in the fourth quarter. Toronto Dominion Bank now owns 15,120,303 shares in the bank valued at $ 1,288,865,000 after purchasing an additional 1,564,081 shares during the period. TD Asset Management Inc. increased its stake in the Canadian Imperial Bank of Commerce by 0.9% in the first quarter. TD Asset Management Inc. now owns 11,517,204 shares in the bank valued at $ 1,127,574,000 after purchasing an additional 102,218 shares during the period. CIBC Asset Management Inc increased its stake in the Canadian Imperial Bank of Commerce by 9.3% in the first quarter. CIBC Asset Management Inc now owns 6,167,186 shares in the bank valued at $ 603,379,000 after purchasing an additional 525,419 shares during the reporting period. The Healthcare of Ontario Pension Plan Trust Fund increased its stake in Canada’s Imperial Bank of Commerce by 8.8% in the fourth quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 4,122,168 shares in the bank valued at $ 352,211,000 after purchasing an additional 335,000 shares during the period. Ultimately, Norges Bank acquired a new position in the Canadian Imperial Bank of Commerce in the fourth quarter valued at approximately $ 339,311,000. Institutional investors hold 42.83% of the shares.
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
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