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

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

Canadian Imperial Bank of Commerce Stock Performance

CM stock traded down $0.56 during midday trading on Thursday, reaching $59.90. The stock had a trading volume of 961,693 shares, compared to its average volume of 984,102. The stock has a market cap of $56.45 billion, a PE ratio of 11.20, a P/E/G ratio of 1.62 and a beta of 1.05. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.05 and a current ratio of 1.05. The firm has a fifty day simple moving average of $62.63 and a two-hundred day simple moving average of $61.79. Canadian Imperial Bank of Commerce has a 52-week low of $46.11 and a 52-week high of $67.45.

Canadian Imperial Bank of Commerce Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, January 28th. Investors of record on Friday, December 27th were paid a $0.6912 dividend. This is a positive change 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 yield of 4.62%. Canadian Imperial Bank of Commerce’s dividend payout ratio (DPR) is 51.21%.

Wall Street Analysts Forecast Growth

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

Canadian Imperial Bank of Commerce Company Profile

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.