Cormark Comments on Canadian Imperial Bank of Commerce’s Q1 2020 Earnings (CM)

Canadian Imperial Bank of Commerce (TSE:CM) (NYSE:CM) – Stock analysts at Cormark issued their Q1 2020 earnings estimates for Canadian Imperial Bank of Commerce in a research note issued on Thursday, November 29th. Cormark analyst M. Grauman expects that the company will post earnings per share of $3.41 for the quarter. Cormark also issued estimates for Canadian Imperial Bank of Commerce’s Q2 2020 earnings at $3.34 EPS, Q3 2020 earnings at $3.38 EPS and Q4 2020 earnings at $3.35 EPS.

A number of other research firms have also recently commented on CM. Barclays cut their price target on shares of Canadian Imperial Bank of Commerce from C$137.00 to C$130.00 in a research note on Friday, November 16th. BMO Capital Markets boosted their price target on shares of Canadian Imperial Bank of Commerce from C$130.00 to C$135.00 and gave the stock a “market perform” rating in a research note on Friday, August 24th. National Bank Financial boosted their price target on shares of Canadian Imperial Bank of Commerce from C$124.00 to C$127.00 and gave the stock a “sector perform” rating in a research note on Friday, August 24th. Eight Capital cut their price target on shares of Canadian Imperial Bank of Commerce from C$132.00 to C$131.00 in a research note on Friday. Finally, Canaccord Genuity cut their price target on shares of Canadian Imperial Bank of Commerce from C$133.00 to C$124.00 in a research note on Thursday, November 22nd. Four investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Canadian Imperial Bank of Commerce presently has a consensus rating of “Buy” and a consensus target price of C$130.82.

Shares of TSE:CM opened at C$111.50 on Friday. Canadian Imperial Bank of Commerce has a 12 month low of C$110.00 and a 12 month high of C$125.21.

The business also recently declared a quarterly dividend, which will be paid on Monday, January 28th. Shareholders of record on Friday, December 28th will be paid a $1.36 dividend. The ex-dividend date is Thursday, December 27th. This represents a $5.44 dividend on an annualized basis and a yield of 4.88%. Canadian Imperial Bank of Commerce’s dividend payout ratio is presently 45.97%.

In other news, insider John Hountalas sold 9,033 shares of the business’s stock in a transaction that occurred on Monday, September 24th. The shares were sold at an average price of C$124.55, for a total value of C$1,125,060.15. Also, Director Victor George Dodig sold 16,000 shares of the business’s stock in a transaction that occurred on Tuesday, September 18th. The stock was sold at an average price of C$122.91, for a total transaction of C$1,966,560.00.

About Canadian Imperial Bank of Commerce

Canadian Imperial Bank of Commerce, a diversified financial institution, provides various financial products and services to individual, small business, commercial, corporate, and institutional clients in Canada, the United States, and internationally. The company operates through four strategic business units: Canadian Personal and Small Business Banking; Canadian Commercial Banking and Wealth Management; U.S.

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

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