National Bank Financial Research Analysts Decrease Earnings Estimates for Canadian Imperial Bank of Commerce (NYSE:CM)

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Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) – National Bank Financial lowered their Q1 2020 earnings estimates for shares of Canadian Imperial Bank of Commerce in a research note issued on Tuesday, February 11th. National Bank Financial analyst G. Dechaine now anticipates that the bank will post earnings of $2.22 per share for the quarter, down from their prior forecast of $2.31. National Bank Financial also issued estimates for Canadian Imperial Bank of Commerce’s Q2 2020 earnings at $2.15 EPS, Q3 2020 earnings at $2.22 EPS and FY2020 earnings at $8.81 EPS.

Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) last issued its earnings results on Thursday, December 5th. The bank reported $2.84 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $2.32 by $0.52. Canadian Imperial Bank of Commerce had a net margin of 17.72% and a return on equity of 15.57%. The firm had revenue of $4.77 billion for the quarter, compared to analysts’ expectations of $4.76 billion. During the same quarter last year, the company earned $3.00 earnings per share. The firm’s revenue was up 7.2% compared to the same quarter last year.

A number of other research firms have also recently weighed in on CM. Citigroup cut shares of Canadian Imperial Bank of Commerce from a “buy” rating to a “neutral” rating in a report on Tuesday, December 17th. Bank of America raised shares of Canadian Imperial Bank of Commerce from an “underperform” rating to a “neutral” rating in a report on Tuesday, February 4th. Credit Suisse Group cut their price objective on shares of Canadian Imperial Bank of Commerce from $105.00 to $104.00 and set a “neutral” rating on the stock in a report on Friday, December 6th. Canaccord Genuity cut their price objective on shares of Canadian Imperial Bank of Commerce from $112.50 to $108.00 and set a “hold” rating on the stock in a report on Friday, December 6th. Finally, ValuEngine raised shares of Canadian Imperial Bank of Commerce from a “sell” rating to a “hold” rating in a report on Friday, January 3rd. Fourteen research analysts have rated the stock with a hold rating, Canadian Imperial Bank of Commerce currently has a consensus rating of “Hold” and an average target price of $113.67.

CM stock opened at $83.09 on Thursday. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 0.13. Canadian Imperial Bank of Commerce has a twelve month low of $73.20 and a twelve month high of $87.62. The company’s 50 day moving average is $82.74 and its two-hundred day moving average is $82.18. The stock has a market cap of $36.80 billion, a P/E ratio of 9.89, a PEG ratio of 2.46 and a beta of 1.06.

Institutional investors and hedge funds have recently made changes to their positions in the company. Huntington National Bank purchased a new position in shares of Canadian Imperial Bank of Commerce during the fourth quarter worth approximately $25,000. Flagship Harbor Advisors LLC grew its position in shares of Canadian Imperial Bank of Commerce by 78.3% during the third quarter. Flagship Harbor Advisors LLC now owns 451 shares of the bank’s stock worth $37,000 after acquiring an additional 198 shares during the last quarter. Keebeck Wealth Management LLC purchased a new position in shares of Canadian Imperial Bank of Commerce during the fourth quarter worth approximately $44,000. Liberty Wealth Management LLC grew its position in shares of Canadian Imperial Bank of Commerce by 50.9% during the third quarter. Liberty Wealth Management LLC now owns 637 shares of the bank’s stock worth $53,000 after acquiring an additional 215 shares during the last quarter. Finally, Allworth Financial LP purchased a new position in shares of Canadian Imperial Bank of Commerce during the fourth quarter worth approximately $83,000. Institutional investors and hedge funds own 44.50% of the company’s stock.

The firm also recently announced a quarterly dividend, which was paid on Tuesday, January 28th. Stockholders of record on Friday, December 27th were given a dividend of $1.0908 per share. The ex-dividend date of this dividend was Thursday, December 26th. This represents a $4.36 dividend on an annualized basis and a dividend yield of 5.25%. Canadian Imperial Bank of Commerce’s dividend payout ratio (DPR) is presently 48.38%.

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 four strategic business units: Canadian Personal and Small Business Banking; Canadian Commercial Banking and Wealth Management; U.S.

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