Canadian Imperial Bank of Commerce (USA) (CM) Releases Earnings Results, Beats Expectations By $0.32 EPS

Canadian Imperial Bank of Commerce (USA) (CM) reported quarterly earnings results on Thursday, Aug-25-2016. The company said it had a profit of $2.67 Earnings per Share for the quarter. The results exceeded Wall Street expectations beating the analyst consensus estimate by $0.32. Analysts had a consensus of $2.35. Analysts expectations of $3719.89 million. During the same quarter in the previous year, the company posted $2.45 EPS.

Many Wall Street Analysts have commented on Canadian Imperial Bank of Commerce (USA). Shares were Reiterated by RBC Capital Mkts on Jun 30, 2016 to “Sector Perform” and Lowered the Price Target to $ 104 from a previous price target of $106 .

Canadian Imperial Bank of Commerce (USA) opened for trading at $77.8 and hit $78.74 on the upside on Tuesday, eventually ending the session at $78.69, with a gain of 1.46% or 1.13 points. The heightened volatility saw the trading volume jump to 4,99,431 shares. Company has a market cap of $31,057 M.

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.

Canadian Imperial Bank of Commerce (USA)

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