Canadian Imperial Bank of Commerce (NYSE:CM - Get Free Report) TSE: CM released its earnings results on Thursday. The bank reported $1.44 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.34 by $0.10, Zacks reports. Canadian Imperial Bank of Commerce had a net margin of 11.10% and a return on equity of 14.01%. The company had revenue of $5.09 billion for the quarter, compared to the consensus estimate of $4.78 billion. During the same quarter in the previous year, the company earned $1.75 EPS. Canadian Imperial Bank of Commerce's quarterly revenue was up 13.9% compared to the same quarter last year.
Canadian Imperial Bank of Commerce Price Performance
Shares of Canadian Imperial Bank of Commerce stock traded up $0.24 on Tuesday, reaching $67.99. The stock had a trading volume of 338,735 shares, compared to its average volume of 1,124,097. Canadian Imperial Bank of Commerce has a 1 year low of $46.99 and a 1 year high of $69.88. The company has a market cap of $63.92 billion, a P/E ratio of 12.71, a price-to-earnings-growth ratio of 1.62 and a beta of 1.06. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 0.14. The business's 50 day moving average is $61.76 and its two-hundred day moving average is $62.00.
Canadian Imperial Bank of Commerce Increases Dividend
The company also recently declared a quarterly dividend, which will be paid on Monday, July 28th. Stockholders of record on Friday, June 27th will be issued a $0.7024 dividend. This represents a $2.81 dividend on an annualized basis and a dividend yield of 4.13%. This is an increase from Canadian Imperial Bank of Commerce's previous quarterly dividend of $0.67. The ex-dividend date is Friday, June 27th. Canadian Imperial Bank of Commerce's dividend payout ratio is presently 47.28%.
Analysts Set New Price Targets
Several research analysts have weighed in on the stock. National Bank Financial downgraded shares of Canadian Imperial Bank of Commerce from an "outperform" rating to a "sector perform" rating in a report on Friday. BMO Capital Markets upped their target price on shares of Canadian Imperial Bank of Commerce from $98.00 to $102.00 and gave the stock an "outperform" rating in a research note on Friday. Scotiabank started coverage on shares of Canadian Imperial Bank of Commerce in a research note on Thursday, May 15th. They issued a "sector outperform" rating for the company. Jefferies Financial Group lowered shares of Canadian Imperial Bank of Commerce from a "buy" rating to a "hold" rating in a research note on Monday, April 21st. Finally, Wall Street Zen upgraded shares of Canadian Imperial Bank of Commerce from a "sell" rating to a "hold" rating in a research report on Saturday, May 24th. Four equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company's stock. According to data from MarketBeat, Canadian Imperial Bank of Commerce has a consensus rating of "Moderate Buy" and an average target price of $109.00.
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Canadian Imperial Bank of Commerce Company Profile
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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.
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