Canadian Imperial Bank of Commerce (CM) Rating Reiterated by National Bank Financial

CM said it had a profit of $2.89 Earnings per Share for the quarter.

Adjusted to exclude certain items, CIBC's profit was up 13 per cent to almost $1.2-billion, or $2.89 per share, ahead of analysts' expectations of $2.57 a share. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main purchased a new stake in Canadian Imperial Bank of Commerce during the fourth quarter valued at about $11,438,000. Canadian Imperial Bank of Commerce has a 1-year low of $65.84 and a 1-year high of $92.22. The firm's 50-day moving average price is $112.75 and its 200 day moving average price is $105.86. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of $2.13 per share.

Other large investors have also made changes to their positions in the company. The company has a market capitalization of $47.31 billion and a P/E ratio of 11.13. This represents a $5.08 dividend on an annualized basis and a yield of 4.30%. Tower Research Capital LLC TRC now owns 2,645 shares of the company's stock worth $205,000 after buying an additional 2,545 shares in the last quarter. Finally, Bank of America Corporation started coverage on Canadian Imperial Bank of Commerce in a research report on Tuesday, November 1st.

Shares of Canadian Imperial Bank of Commerce (NYSE:CM) traded up 1.33% during mid-day trading on Thursday, reaching $91.10.

"Canadian Imperial Bank of Commerce (CM) Scheduled to Post Quarterly Earnings on Thursday" was first posted by Community Financial News and is the property of of Community Financial News.

Looking forward, for the quarter ending Jan-17, 8 analysts have a mean sales target of 3,836.81 million. Royal Bank Of Canada raised their target price on shares of Canadian Imperial Bank of Commerce from C$112.00 to C$118.00 in a research note on Monday, January 30th. The company now has a consensus rating of "Hold" and an average target price of C$112.92.

They expect $2.13 EPS, up 10.33% or $0.22 from last year's $1.91 per share. The ex-dividend date was Friday, December 23rd. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have given a buy rating to the company's stock. Barclays PLC boosted their target price on Canadian Imperial Bank of Commerce from C$107.00 to C$112.00 in a report on Monday, February 13th.

Canadian Imperial Bank of Commerce (CIBC) is a global financial institution.

The bank and financial services company posted revenue of $3.94 billion in the period.

"CIBC delivered strong performance across retail and business banking, wealth management and capital markets", Chief Executive Victor Dodig said in a statement.

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  • Zachary Reyes