CIBC kicks off bank earnings with miss as slow loan growth weighs

24 Mai, 2019, 19:15 | Auteur: Auguste Feret
  • CIBC profit misses estimates amid pressure in core Canadian unit

JPMorgan Chase & Co. boosted its holdings in Canadian Imperial Bank of Commerce by 84.4% during the third quarter.

The high trading price was $110.64 at which a stock traded during the course of the day and low trading price remained $109.94. "Can Grows Position in Canadian Imperial Bank of Commerce (CM)" was first posted by Mayfield Recorder and is the sole property of of Mayfield Recorder. About 1.23 million shares traded. CWM LLC increased its holdings in Canadian Imperial Bank of Commerce by 1,524.0% in the 1st quarter. 1,378,570 shares of the company were exchanged, compared to its average volume of 2,947,606. Raymond James Financial Services Advisors Inc. boosted its holdings in Royal Bank of Canada by 1.8% during the first quarter. Finally, Winslow Evans & Crocker Inc. boosted its holdings in Canadian Imperial Bank of Commerce by 126.0% during the fourth quarter. Advisory Services Network LLC now owns 443 shares of the bank's stock valued at $33,000 after acquiring an additional 230 shares during the last quarter.

RY has been the topic of a number of research reports. Barclays restated an "average" rating and set a $123.00 target price on shares of Canadian Imperial Bank of Commerce in a report on Friday, March 1st.

Shares of Canadian Imperial Bank of Commerce (TSE:CM) (NYSE:CM) have been assigned a consensus recommendation of "Hold" from the eleven brokerages that are presently covering the company, MarketBeat reports. Finally, Canaccord Genuity increased their price target on Canadian Imperial Bank of Commerce from C$115.00 to C$121.00 in a report on Wednesday, May 15th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and four have issued a buy rating to the company's stock. The company has an average rating of "Hold" and a consensus target price of $125.43.

Canadian Imperial Bank of Commerce stock opened at $82.71 on Tuesday. TD Securities cut their price target on Canadian Imperial Bank of Commerce from C$140.00 to C$135.00 and set a "buy" rating on the stock in a report on Friday, March 1st. The company has a quick ratio of 1.06, a current ratio of 1.06 and a debt-to-equity ratio of 0.12. The stock has a market capitalization of $49.11 billion and a P/E ratio of 9.91.

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Canadian Imperial Bank of Commerce reported a marginal rise in adjusted quarterly profit on Wednesday, as higher expenses and loan loss provisions in retail banking offset gains in the bank's capital markets business.

On an adjusted basis, CIBC says it earned $2.97 per diluted share for the quarter, up from an adjusted profit of $2.95 per diluted share. The company had revenue of $8.70 billion for the quarter, compared to analyst estimates of $8.31 billion. On average, sell-side analysts predict that Royal Bank of Canada will post 6.69 EPS for the current year.

The company also recently announced a quarterly dividend, which will be paid on Friday, May 24th. Stockholders of record on Thursday, March 28th were issued a $1.40 dividend. The ex-dividend date is Wednesday, April 24th.

The Trend analysis of the Canadian Imperial Bank of Commerce shows that the Company Buy the Trend Signal & having Trend Strength Average with the Trend Direction of the Strongest. Canadian Imperial Bank of Commerce (TSE:CM) has 0.00% since May 21, 2018 and is. If you are accessing this article on another publication, it was illegally copied and reposted in violation of US and worldwide trademark & copyright laws.

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