Dundee Initiates Coverage on Canadian Imperial Bank of Commerce (USA) to Buy

Dundee Initiates Coverage on Canadian Imperial Bank of Commerce (USA)(NYSE:CM). The shares have been rated Buy. The rating by Dundee was issued on Sep 21, 2016.

In a different note, On Aug 26, 2016, BMO Capital said it Maintains its rating on Canadian Imperial Bank of Commerce (USA). In the research note, the firm Raises the price-target to $97.00 per share. The shares have been rated ‘Market Perform’ by the firm.

Canadian Imperial Bank of Commerce (USA) (CM) made into the market gainers list on Tuesdays trading session with the shares advancing 0.31% or 0.24 points. Due to strong positive momentum, the stock ended at $76.65, which is also near the day’s high of $76.89. The stock began the session at $76.52 and the volume stood at 3,14,828 shares. The 52-week high of the shares is $82.6 and the 52 week low is $56.29. The company has a current market capitalization of $30,264 M and it has 39,48,38,250 shares in outstanding.

Canadian Imperial Bank of Commerce (USA) has also declared a cash dividend of $1.2100 on Aug 25, 2016. The shares will quote ex-dividend on Sep 26, 2016 and the record date has been fixed on Sep 28, 2016. The dividend payable date has been fixed on Oct 28, 2016.

Canadian Imperial Bank of Commerce (USA)(CM) last announced its earnings results on Aug 25, 2016 for Fiscal Year 2016 and Q3.Company reported revenue of $3.19B. Analysts had an estimated revenue of $2.89B. Earnings per share were $2.06. Analysts had estimated an EPS of $1.83.

Canadian Imperial Bank of Commerce (CIBC) is a Canada-based financial institution. CIBC serves its clients through three strategic business units: Retail and Business Banking Wealth Management and Wholesale Banking. Its three main operating groups are supported by six functional groups: Technology and Operations; Corporate Development; Finance; Treasury; Administration; and Risk Management which form part of Corporate and Other. Retail and Business Banking provides financial advice banking investment and authorized insurance products and services from over 1100 branches mobile sales force telephone banking and online and mobile banking. Wealth Management provides relationship-based advisory services and a suite of investment solutions to meet the needs of institutional retail and high net worth clients. Wholesale Banking provides a range of credit capital market investment banking merchant banking and research products and services to the clients.

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