Canadian Imperial Bank of Commerce (CM) Expected to Post Quarterly Sales of $3.39 Billion

Equities research analysts forecast that Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) will report $3.39 billion in sales for the current fiscal quarter, Zacks Investment Research reports. Three analysts have provided estimates for Canadian Imperial Bank of Commerce’s earnings, with estimates ranging from $3.31 billion to $3.46 billion. Canadian Imperial Bank of Commerce reported sales of $2.78 billion during the same quarter last year, which would suggest a positive year-over-year growth rate of 21.9%. The business is expected to announce its next earnings results on Thursday, May 24th.

On average, analysts expect that Canadian Imperial Bank of Commerce will report full-year sales of $13.96 billion for the current fiscal year, with estimates ranging from $13.86 billion to $14.11 billion. For the next year, analysts anticipate that the business will report sales of $14.59 billion per share, with estimates ranging from $14.46 billion to $14.74 billion. Zacks’ sales calculations are a mean average based on a survey of sell-side research firms that cover Canadian Imperial Bank of Commerce.

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Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) last posted its quarterly earnings data on Thursday, February 22nd. The bank reported $2.50 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $2.26 by $0.24. The firm had revenue of $3.51 billion for the quarter, compared to the consensus estimate of $3.32 billion. Canadian Imperial Bank of Commerce had a net margin of 21.38% and a return on equity of 17.57%.

A number of research firms have issued reports on CM. Barclays raised shares of Canadian Imperial Bank of Commerce from an “underweight” rating to an “overweight” rating in a report on Tuesday, December 19th. Zacks Investment Research raised shares of Canadian Imperial Bank of Commerce from a “hold” rating to a “strong-buy” rating and set a $108.00 price objective on the stock in a report on Tuesday, February 27th. Finally, ValuEngine downgraded shares of Canadian Imperial Bank of Commerce from a “buy” rating to a “hold” rating in a report on Monday, April 2nd. One research analyst has rated the stock with a sell rating, four have given a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the stock. Canadian Imperial Bank of Commerce presently has a consensus rating of “Buy” and a consensus target price of $115.86.

Several large investors have recently modified their holdings of CM. BB&T Corp raised its stake in Canadian Imperial Bank of Commerce by 119.8% in the 4th quarter. BB&T Corp now owns 19,159 shares of the bank’s stock valued at $1,867,000 after acquiring an additional 10,443 shares during the period. Janney Montgomery Scott LLC raised its stake in Canadian Imperial Bank of Commerce by 148.4% in the 3rd quarter. Janney Montgomery Scott LLC now owns 8,432 shares of the bank’s stock valued at $738,000 after acquiring an additional 5,038 shares during the period. Lourd Capital LLC bought a new stake in Canadian Imperial Bank of Commerce in the 4th quarter valued at about $442,000. Broderick Brian C bought a new stake in Canadian Imperial Bank of Commerce in the 4th quarter valued at about $209,000. Finally, Acadian Asset Management LLC raised its stake in Canadian Imperial Bank of Commerce by 1.5% in the 4th quarter. Acadian Asset Management LLC now owns 6,689,003 shares of the bank’s stock valued at $654,197,000 after acquiring an additional 98,900 shares during the period. 46.63% of the stock is currently owned by institutional investors.

CM traded up $0.48 during mid-day trading on Friday, reaching $88.30. 193,338 shares of the stock were exchanged, compared to its average volume of 417,820. The company has a debt-to-equity ratio of 0.10, a current ratio of 1.04 and a quick ratio of 1.04. The company has a market capitalization of $38,823.17, a price-to-earnings ratio of 9.95, a P/E/G ratio of 1.61 and a beta of 1.15. Canadian Imperial Bank of Commerce has a 1 year low of $77.20 and a 1 year high of $100.01.

The business also recently declared a quarterly dividend, which will be paid on Friday, April 27th. Investors of record on Wednesday, March 28th will be issued a $1.047 dividend. This is an increase from Canadian Imperial Bank of Commerce’s previous quarterly dividend of $1.01. This represents a $4.19 dividend on an annualized basis and a dividend yield of 4.74%. The ex-dividend date of this dividend is Tuesday, March 27th. Canadian Imperial Bank of Commerce’s payout ratio is 47.13%.

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Canadian Imperial Bank of Commerce Company Profile

Canadian Imperial Bank of Commerce operates as a global financial institution, which provides a full range of financial products and services to individual, small business, commercial, corporate and institutional clients. It operates through the following segments: Canadian Personal and Business Banking; Canadian Commercial Banking and Wealth Management; U.S.

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

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