Canadian Imperial Bank of Commerce (NYSE:CM) Announces Earnings Results

Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) posted its quarterly earnings results on Thursday. The bank reported $1.55 EPS for the quarter, topping the consensus estimate of $1.36 by $0.19, Zacks reports. Canadian Imperial Bank of Commerce had a net margin of 11.10% and a return on equity of 14.01%.

Canadian Imperial Bank of Commerce Trading Down 0.4 %

Shares of NYSE:CM traded down $0.25 during midday trading on Thursday, hitting $60.21. 494,860 shares of the stock traded hands, compared to its average volume of 971,326. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 0.14. The business’s 50 day moving average is $62.63 and its two-hundred day moving average is $61.79. The stock has a market capitalization of $56.75 billion, a PE ratio of 11.25, a P/E/G ratio of 1.62 and a beta of 1.05. Canadian Imperial Bank of Commerce has a one year low of $46.11 and a one year high of $67.45.

Canadian Imperial Bank of Commerce Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, January 28th. Shareholders of record on Friday, December 27th were given a $0.6912 dividend. This is a boost from Canadian Imperial Bank of Commerce’s previous quarterly dividend of $0.65. The ex-dividend date of this dividend was Friday, December 27th. This represents a $2.76 dividend on an annualized basis and a dividend yield of 4.59%. Canadian Imperial Bank of Commerce’s payout ratio is presently 51.21%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on CM shares. StockNews.com upgraded shares of Canadian Imperial Bank of Commerce from a “sell” rating to a “hold” rating in a research report on Friday, February 14th. Royal Bank of Canada raised Canadian Imperial Bank of Commerce from a “sector perform” rating to an “outperform” rating and raised their price objective for the company from $97.00 to $103.00 in a research note on Wednesday, January 8th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and four have given a buy rating to the stock. According to MarketBeat, Canadian Imperial Bank of Commerce presently has a consensus rating of “Hold” and a consensus target price of $92.00.

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.