Canadian Imperial Bank of Commerce (USA) (CM) was Reiterated by RBC Capital Mkts to “Sector Perform” while Lowering the Price Target of the company shares to $ 104 from a previous price target of $106 . RBC Capital Mkts advised their investors in a research report released on Jun 30, 2016.
On the company’s financial health, Canadian Imperial Bank of Commerce (USA) reported $2.40 EPS for the quarter, beating the analyst consensus estimate by $ 0.08 according to the earnings call on May 26, 2016. Analyst had a consensus of $2.32.Analysts expectations of $ 3643.32.
Canadian Imperial Bank of Commerce (USA) closed down -1.69 points or -2.19% at $75.42 with 37,78,510 shares getting traded on Wednesday. Post opening the session at $76, the shares hit an intraday low of $74.06 and an intraday high of $76.11 and the price fluctuated in this range throughout the day.Shares ended Wednesday session in Red.
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.