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

Canadian Imperial Bank of Commerce (TSE:CM) (NYSE:CM) will announce its earnings results 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 Trading Down 0.8 %

Shares of CM opened at C$89.30 on Wednesday. The firm has a market cap of C$84.39 billion, a PE ratio of 12.92, a P/E/G ratio of 3.03 and a beta of 1.12. Canadian Imperial Bank of Commerce has a 12 month low of C$56.17 and a 12 month high of C$92.17. 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 business also recently announced a quarterly dividend, which was paid on Monday, October 28th. Investors of record on Friday, September 27th were paid a $0.90 dividend. This represents a $3.60 dividend on an annualized basis and a yield of 4.03%. 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

Several research firms have weighed in on CM. Canaccord Genuity Group boosted their price target on Canadian Imperial Bank of Commerce from C$81.00 to C$92.00 in a research note on Tuesday, November 19th. Cormark upgraded shares of Canadian Imperial Bank of Commerce from a “market perform” rating to a “buy” rating and lifted their price objective for the company from C$75.00 to C$83.00 in a research note on Friday, August 30th. National Bankshares increased their price objective on shares of Canadian Imperial Bank of Commerce from C$86.00 to C$94.00 in a research note on Wednesday, November 20th. Jefferies Financial Group decreased their target price 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. Finally, TD Securities increased their price target on Canadian Imperial Bank of Commerce from C$91.00 to C$98.00 in a research report on Friday, November 15th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat.com, Canadian Imperial Bank of Commerce presently has an average rating of “Moderate Buy” and an average price target of C$87.17.

Insider Activity at Canadian Imperial Bank of Commerce

In related news, Senior Officer Hratch Dikran Panossian sold 5,530 shares of the stock in a transaction that occurred on Thursday, September 5th. The stock was 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 Canadian Imperial Bank of Commerce stock in a transaction on Monday, September 30th. The shares were sold at an average price of C$83.20, for a total value of C$66,560.00. In the last quarter, insiders sold 203,057 shares of company stock valued at $16,823,249. Corporate 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.