Canadian banks shake off oilpatch fears, report better-than-expected earnings

CM has been the topic of a number of other research reports.

Several large investors have recently modified their holdings of CM.

Meanwhile, CIBC said the sale of its minority stake in American Century Investments boosted its third-quarter earnings to $1.44 billion, or $3.61 a share. Nexus Investment Management Inc. now owns 32,050 shares of the company’s stock worth $2,397,000 after buying an additional 128 shares during the last quarter. Canadian Imperial Bank of Commerce (USA) makes up approx 0.09% of Plante Moran Financial Advisors’s portfolio. Canadian Imperial Bank of Commerce (USA) makes up approx 0.09% of Quantbot Technologies Lp’s portfolio.

Many Wall Street Analysts have commented on Canadian Imperial Bank of Commerce (USA).

Canadian Imperial Bank of Commerce (TSE:CM) traded up 1.00% on Thursday, reaching $103.02. The stock had a trading volume of 618,233 shares. Company has a market cap of $31,057 M. The firm has a 50-day moving average of $99.27 and a 200 day moving average of $98.08. Canadian Imperial Bank of Commerce has a 12-month low of $82.19 and a 12-month high of $104.65.

Canadian Imperial Bank of Commerce (NYSE:CM) last announced its quarterly earnings results on Thursday, August 25th.

After adjustments, TD said it made $2.42 billion, or $1.27 a share, up from $2.29 billion, or $1.20 a share, a year earlier.

Earnings in its Canadian consumer lending business rose 5.7 percent from a year ago, while its capital markets division climbed 15 percent, the country’s fifth-biggest bank said. Analysts had expected, on average, that the bank’s adjusted earnings per share would come in at $2.35 per share, according to Thomson Reuters I/B/E/S.

Several other equities analysts have also issued reports on the stock. Zacks Investment Research raised shares of Canadian Imperial Bank of Commerce from a “sell” rating to a “hold” rating in a research note on Thursday, August 4th. Canaccord Genuity cut their price target on shares of Canadian Imperial Bank of Commerce from C$106.00 to C$100.00 and set a “hold” rating on the stock in a report on Thursday, June 30th. The company has a consensus rating of “Hold” and an average target price of C$101.69.