Desjardins Weighs in on Canadian Imperial Bank of Commerce’s FY2020 Earnings (CM)

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Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) – Investment analysts at Desjardins issued their FY2020 earnings estimates for Canadian Imperial Bank of Commerce in a research report issued to clients and investors on Tuesday, November 6th. Desjardins analyst D. Young expects that the bank will earn $10.03 per share for the year.

Several other equities analysts have also recently commented on the stock. Zacks Investment Research cut shares of Canadian Imperial Bank of Commerce from a “buy” rating to a “hold” rating in a research note on Tuesday, October 23rd. ValuEngine cut shares of Canadian Imperial Bank of Commerce from a “hold” rating to a “sell” rating in a research note on Thursday, October 18th. Finally, TheStreet cut shares of Canadian Imperial Bank of Commerce from a “b-” rating to a “c+” rating in a research note on Wednesday, October 10th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and five have assigned a buy rating to the company’s stock. The company has an average rating of “Hold” and an average target price of $123.00.

Canadian Imperial Bank of Commerce stock opened at $87.29 on Wednesday. The stock has a market cap of $38.44 billion, a price-to-earnings ratio of 9.82, a P/E/G ratio of 1.62 and a beta of 1.18. The company has a debt-to-equity ratio of 0.12, a quick ratio of 1.05 and a current ratio of 1.05. Canadian Imperial Bank of Commerce has a 52 week low of $84.88 and a 52 week high of $100.01.

Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) last released its quarterly earnings data on Thursday, August 23rd. The bank reported $3.08 earnings per share for the quarter, topping the Zacks’ consensus estimate of $2.22 by $0.86. Canadian Imperial Bank of Commerce had a net margin of 21.27% and a return on equity of 17.77%. The business had revenue of $3.52 billion for the quarter, compared to analysts’ expectations of $3.39 billion. During the same quarter last year, the company earned $2.77 EPS.

The business also recently announced a quarterly dividend, which was paid on Monday, October 29th. Shareholders of record on Friday, September 28th were paid a dividend of $1.0412 per share. This is a boost from Canadian Imperial Bank of Commerce’s previous quarterly dividend of $1.04. The ex-dividend date of this dividend was Thursday, September 27th. This represents a $4.16 annualized dividend and a yield of 4.77%. Canadian Imperial Bank of Commerce’s dividend payout ratio (DPR) is presently 46.91%.

Several large investors have recently bought and sold shares of CM. HighPoint Advisor Group LLC bought a new position in shares of Canadian Imperial Bank of Commerce during the 3rd quarter valued at about $195,000. Mawer Investment Management Ltd. acquired a new position in shares of Canadian Imperial Bank of Commerce in the second quarter worth about $205,000. Providence Wealth Advisors LLC acquired a new position in shares of Canadian Imperial Bank of Commerce in the third quarter worth about $214,000. Iberiabank Corp acquired a new position in shares of Canadian Imperial Bank of Commerce in the third quarter worth about $217,000. Finally, Laurion Capital Management LP acquired a new position in shares of Canadian Imperial Bank of Commerce in the second quarter worth about $233,000. Institutional investors own 46.34% 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 individual, small business, commercial, corporate, 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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Earnings History and Estimates for Canadian Imperial Bank of Commerce (NYSE:CM)

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