Canadian Imperial Bank of Commerce (CM) to Release Earnings on Thursday

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

Canadian Imperial Bank of Commerce Trading Down 0.8 %

TSE:CM opened at C$89.30 on Wednesday. Canadian Imperial Bank of Commerce has a 12-month low of C$56.17 and a 12-month high of C$92.17. The firm has a market cap of C$84.39 billion, a PE ratio of 12.92, a price-to-earnings-growth ratio of 3.03 and a beta of 1.12. The stock has a fifty day moving average price of C$86.75 and a 200 day moving average price of C$75.87.

Canadian Imperial Bank of Commerce Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, October 28th. Stockholders of record on Friday, September 27th were given a dividend of $0.90 per share. The ex-dividend date of this dividend was Friday, September 27th. This represents a $3.60 annualized dividend and a dividend yield of 4.03%. Canadian Imperial Bank of Commerce’s dividend payout ratio (DPR) is currently 52.10%.

Analysts Set New Price Targets

A number of brokerages have issued reports on CM. Bank of America raised Canadian Imperial Bank of Commerce from a “neutral” rating to a “buy” rating and lifted their price target for the stock from C$74.00 to C$90.00 in a report on Friday, August 30th. Royal Bank of Canada increased their price target on shares of Canadian Imperial Bank of Commerce from C$69.00 to C$74.00 and gave the company a “sector perform” rating in a research note on Friday, August 30th. TD Securities boosted their price objective on shares of Canadian Imperial Bank of Commerce from C$91.00 to C$98.00 in a research report on Friday, November 15th. Canaccord Genuity Group increased their target price on shares of Canadian Imperial Bank of Commerce from C$81.00 to C$92.00 in a research report on Tuesday, November 19th. Finally, Jefferies Financial Group reduced their price target on shares of Canadian Imperial Bank of Commerce from C$79.00 to C$78.00 and set a “buy” rating for the company in a research report on Monday, August 12th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of C$87.17.

Insider Transactions at Canadian Imperial Bank of Commerce

In other news, Senior Officer Hratch Dikran Panossian sold 5,530 shares of Canadian Imperial Bank of Commerce stock in a transaction dated Thursday, September 5th. The shares were sold at an average price of C$79.89, for a total value of C$441,791.70. Also, Director Harry Kenneth Culham sold 800 shares of the business’s stock in a transaction dated Monday, September 30th. The stock was sold at an average price of C$83.20, for a total transaction of C$66,560.00. Over the last quarter, insiders sold 203,057 shares of company stock worth $16,823,249. Company insiders own 0.02% of the company’s stock.

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.