Canadian Imperial Bank of Commerce (NYSE:CM) Expected to Post FY2022 Earnings of $11.56 Per Share

Canadian Imperial Bank of Commerce (NYSE:CMGet Rating) (TSE:CM) – Analysts at National Bank Financial reduced their FY2022 EPS estimates for Canadian Imperial Bank of Commerce in a research note issued to investors on Thursday, April 7th. National Bank Financial analyst G. Dechaine now anticipates that the bank will post earnings per share of $11.56 for the year, down from their previous forecast of $11.64. National Bank Financial also issued estimates for Canadian Imperial Bank of Commerce’s FY2023 earnings at $11.92 EPS.

Canadian Imperial Bank of Commerce (NYSE:CMGet Rating) (TSE:CM) last issued its quarterly earnings results on Friday, February 25th. The bank reported $3.22 earnings per share for the quarter, topping the Zacks’ consensus estimate of $2.85 by $0.37. Canadian Imperial Bank of Commerce had a net margin of 28.15% and a return on equity of 16.72%. The firm had revenue of $4.34 billion during the quarter, compared to analysts’ expectations of $5.25 billion. During the same quarter in the prior year, the business earned $2.78 EPS.

CM has been the subject of a number of other research reports. Stifel Nicolaus cut their price target on shares of Canadian Imperial Bank of Commerce from C$174.00 to C$172.00 and set a “hold” rating for the company in a report on Friday. Barclays downgraded shares of Canadian Imperial Bank of Commerce from an “overweight” rating to an “equal weight” rating and raised their target price for the company from $162.00 to $169.00 in a report on Wednesday, January 19th. CIBC raised their target price on shares of Canadian Imperial Bank of Commerce from C$173.00 to C$178.00 in a report on Monday, February 28th. StockNews.com assumed coverage on shares of Canadian Imperial Bank of Commerce in a research note on Thursday, March 31st. They set a “hold” rating on the stock. Finally, Scotiabank raised their price target on shares of Canadian Imperial Bank of Commerce from C$166.00 to C$182.00 in a research note on Friday, February 18th. Seven equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat.com, Canadian Imperial Bank of Commerce currently has a consensus rating of “Hold” and an average price target of $164.83.

Shares of CM opened at $115.73 on Monday. The company has a 50-day simple moving average of $125.44 and a 200-day simple moving average of $120.98. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.13. The company has a market capitalization of $52.20 billion, a PE ratio of 10.06, a P/E/G ratio of 2.08 and a beta of 1.02. Canadian Imperial Bank of Commerce has a 52-week low of $97.57 and a 52-week high of $132.48.

Canadian Imperial Bank of Commerce shares are going to split on the morning of Monday, May 16th. The 2-1 split was announced on Friday, February 25th. The newly minted shares will be payable to shareholders after the market closes on Friday, May 13th.

A number of hedge funds have recently made changes to their positions in the business. NEXT Financial Group Inc raised its stake in shares of Canadian Imperial Bank of Commerce by 68.5% during the fourth quarter. NEXT Financial Group Inc now owns 246 shares of the bank’s stock valued at $29,000 after purchasing an additional 100 shares during the period. Massmutual Trust Co. FSB ADV raised its stake in shares of Canadian Imperial Bank of Commerce by 732.6% during the third quarter. Massmutual Trust Co. FSB ADV now owns 358 shares of the bank’s stock valued at $40,000 after purchasing an additional 315 shares during the period. Tower View Investment Management & Research LLC purchased a new stake in shares of Canadian Imperial Bank of Commerce during the third quarter valued at approximately $45,000. CWM LLC purchased a new stake in shares of Canadian Imperial Bank of Commerce during the fourth quarter valued at approximately $46,000. Finally, Huntington National Bank raised its stake in shares of Canadian Imperial Bank of Commerce by 1,230.0% during the third quarter. Huntington National Bank now owns 532 shares of the bank’s stock valued at $59,000 after purchasing an additional 492 shares during the period. 44.27% of the stock is currently owned by hedge funds and other institutional investors.

The business also recently announced a quarterly dividend, which will be paid on Thursday, April 28th. Investors of record on Monday, March 28th will be given a $1.267 dividend. The ex-dividend date is Friday, March 25th. This is a boost from Canadian Imperial Bank of Commerce’s previous quarterly dividend of $1.26. This represents a $5.07 annualized dividend and a dividend yield of 4.38%. Canadian Imperial Bank of Commerce’s dividend payout ratio (DPR) is currently 44.17%.

Canadian Imperial Bank of Commerce Company Profile (Get Rating)

Canadian Imperial Bank of Commerce, a diversified financial institution, provides various financial products and services to personal, business, public sector, and institutional clients in Canada, the United States, and internationally. The company operates through four strategic business units: Canadian Personal and Business Banking; Canadian Commercial Banking and Wealth Management; U.S.

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Earnings History and Estimates for Canadian Imperial Bank of Commerce (NYSE:CM)

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