Canadian Imperial Bank of Commerce (CM) Scheduled to Post Quarterly Earnings on Thursday

Canadian Imperial Bank of Commerce (TSE:CM) (NYSE:CM) is scheduled to be issuing its quarterly earnings data before the market opens on Thursday, December 5th. Analysts expect the company to announce earnings of C$1.75 per share for the quarter.

Canadian Imperial Bank of Commerce (TSE:CM) (NYSE:CM) last announced its quarterly earnings results on Thursday, August 29th. The company reported C$1.93 EPS for the quarter, beating analysts’ consensus estimates of C$1.75 by C$0.18. The firm had revenue of C$6.60 billion for the quarter, compared to analyst estimates of C$6.31 billion. Canadian Imperial Bank of Commerce had a return on equity of 12.37% and a net margin of 29.56%.

Canadian Imperial Bank of Commerce Stock Performance

Shares of TSE:CM opened at C$90.70 on Thursday. The firm has a market cap of C$85.71 billion, a PE ratio of 13.13, a price-to-earnings-growth ratio of 3.03 and a beta of 1.12. The firm’s fifty day moving average is C$86.21 and its 200-day moving average is C$75.20. Canadian Imperial Bank of Commerce has a 52 week low of C$51.60 and a 52 week high of C$92.17.

Canadian Imperial Bank of Commerce Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, October 28th. Stockholders of record on Friday, September 27th were given a $0.90 dividend. This represents a $3.60 annualized dividend and a dividend yield of 3.97%. The ex-dividend date was Friday, September 27th. Canadian Imperial Bank of Commerce’s dividend payout ratio (DPR) is presently 52.10%.

Analyst Ratings Changes

A number of research firms recently weighed in on CM. Barclays upped their price target on Canadian Imperial Bank of Commerce from C$71.00 to C$77.00 and gave the stock an “underweight” rating in a research note on Friday, August 30th. Cormark upgraded Canadian Imperial Bank of Commerce from a “market perform” rating to a “buy” rating and increased their target price for the stock from C$75.00 to C$83.00 in a report on Friday, August 30th. TD Securities boosted their price target on shares of Canadian Imperial Bank of Commerce from C$91.00 to C$98.00 in a research note on Friday, November 15th. Bank of America raised shares of Canadian Imperial Bank of Commerce from a “neutral” rating to a “buy” rating and raised their price objective for the company from C$74.00 to C$90.00 in a research note on Friday, August 30th. Finally, National Bankshares lifted their price objective on shares of Canadian Imperial Bank of Commerce from C$86.00 to C$94.00 in a report on Wednesday, November 20th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and eight have issued a buy rating to the stock. According to MarketBeat.com, Canadian Imperial Bank of Commerce has a consensus rating of “Moderate Buy” and an average target price of C$87.17.

Insiders Place Their Bets

In related news, Director Harry Kenneth Culham sold 50,000 shares of the firm’s stock in a transaction dated Wednesday, September 25th. The shares were sold at an average price of C$83.42, for a total transaction of C$4,170,750.00. Also, Senior Officer Hratch Dikran Panossian sold 5,530 shares of the business’s stock in a transaction dated Thursday, September 5th. The shares were sold at an average price of C$79.89, for a total transaction of C$441,791.70. Insiders have sold a total of 203,057 shares of company stock valued at $16,823,249 in the last 90 days. 0.02% of the stock is currently owned by corporate insiders.

About Canadian Imperial Bank of Commerce

Canadian Imperial Bank of Commerce, a diversified financial institution, provides various financial products and services to personal, business, public sector, and institutional clients in Canada, the United States, and internationally. The company operates through Canadian Personal and Business Banking; Canadian Commercial Banking and Wealth Management; U.S.