Q1 2020 EPS Estimates for Canadian Imperial Bank of Commerce (TSE:CM) Lowered by National Bank Financial

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Canadian Imperial Bank of Commerce (TSE:CM) (NYSE:CM) – Equities researchers at National Bank Financial lowered their Q1 2020 earnings estimates for shares of Canadian Imperial Bank of Commerce in a report issued on Thursday, December 5th. National Bank Financial analyst G. Dechaine now forecasts that the company will earn $3.08 per share for the quarter, down from their prior forecast of $3.24. National Bank Financial has a “Sector Perform” rating and a $110.00 price objective on the stock. National Bank Financial also issued estimates for Canadian Imperial Bank of Commerce’s Q2 2020 earnings at $2.94 EPS and Q3 2020 earnings at $3.02 EPS.

Other research analysts have also issued reports about the stock. CSFB dropped their price objective on shares of Canadian Imperial Bank of Commerce from C$106.00 to C$105.00 in a research note on Friday, September 6th. BMO Capital Markets dropped their price objective on shares of Canadian Imperial Bank of Commerce from C$117.00 to C$114.00 in a research note on Friday, December 6th. Royal Bank of Canada dropped their price objective on shares of Canadian Imperial Bank of Commerce from C$124.00 to C$121.00 and set a “sector perform” rating on the stock in a research note on Friday, December 6th. Cormark dropped their price objective on shares of Canadian Imperial Bank of Commerce from C$116.00 to C$115.00 in a research note on Friday, December 6th. Finally, Citigroup dropped their price objective on shares of Canadian Imperial Bank of Commerce from C$120.00 to C$115.00 in a research note on Monday, September 9th. Seven investment analysts have rated the stock with a hold rating, Canadian Imperial Bank of Commerce has a consensus rating of “Hold” and an average target price of C$113.25.

TSE CM opened at C$109.05 on Monday. The firm has a market cap of $48.94 billion and a PE ratio of 9.56. Canadian Imperial Bank of Commerce has a one year low of C$97.55 and a one year high of C$115.96. The firm’s fifty day moving average is C$113.58 and its two-hundred day moving average is C$106.75.

In other news, Director Katharine Berghuis Stevenson purchased 4,000 shares of the company’s stock in a transaction dated Tuesday, September 17th. The shares were acquired at an average cost of C$109.52 per share, for a total transaction of C$438,080.00. Following the completion of the purchase, the director now directly owns 20,352 shares in the company, valued at approximately C$2,228,951.04.

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 28th. Shareholders of record on Friday, December 27th will be paid a $1.44 dividend. The ex-dividend date of this dividend is Tuesday, December 24th. This represents a $5.76 dividend on an annualized basis and a yield of 5.28%. Canadian Imperial Bank of Commerce’s dividend payout ratio is presently 49.08%.

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 four strategic business units: Canadian Personal and Small Business Banking; Canadian Commercial Banking and Wealth Management; U.S.

Further Reading: How to Invest in Stocks with Increasing Dividends

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

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