Canadian Imperial Bank of Commerce (TSE:CM) Expected to Post Q2 2022 Earnings of $1.66 Per Share

Canadian Imperial Bank of Commerce (TSE:CM – Get Rating) (NYSE:CM) – Analysts at National Bank Financial issued their Q2 2022 earnings estimates for shares of Canadian Imperial Bank of Commerce in a note issued to investors on Sunday, May 15th. National Bank Financial analyst G. Dechaine forecasts that the company will post earnings of $1.66 per share for the quarter. National Bank Financial also issued estimates for Canadian Imperial Bank of Commerce’s Q3 2022 earnings at $1.78 EPS, Q4 2022 earnings at $1.77 EPS and FY2022 earnings at $7.24 EPS.

Canadian Imperial Bank of Commerce (TSE:CM – Get Rating) (NYSE:CM) last issued its quarterly earnings data on Friday, February 25th. The company reported C$4.08 EPS for the quarter, beating analysts’ consensus estimates of C$3.61 by C$0.47. The firm had revenue of C$5.50 billion during the quarter.

Other research analysts have also issued reports about the company. Canaccord Genuity Group upped their price objective on Canadian Imperial Bank of Commerce from C$173.00 to C$178.00 in a report on Monday, February 28th. Fundamental Research upped their price objective on Canadian Imperial Bank of Commerce from C$160.31 to C$176.88 and gave the company a “buy” rating in a report on Monday, March 7th. BMO Capital Markets upped their target price on Canadian Imperial Bank of Commerce from C$165.00 to C$170.00 in a research report on Monday, February 28th. Scotiabank cut their target price on Canadian Imperial Bank of Commerce from C$184.00 to C$166.00 in a research report on Wednesday, April 13th. Finally, TD Securities upped their target price on Canadian Imperial Bank of Commerce from C$180.00 to C$185.00 and gave the company a “buy” rating in a research report on Monday, February 28th. One research analyst has rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to data from MarketBeat, Canadian Imperial Bank of Commerce currently has a consensus rating of “Buy” and a consensus price target of C$163.46.

Shares of TSE CM opened at C$70.53 on Wednesday. The stock’s fifty day moving average price is C$146.13 and its two-hundred day moving average price is C$150.97. Canadian Imperial Bank of Commerce has a one year low of C$66.05 and a one year high of C$83.75. The firm has a market cap of C$63.66 billion and a price-to-earnings ratio of 4.89.

In related news, Director Harry Kenneth Culham sold 2,500 shares of the company’s stock in a transaction on Friday, March 4th. The stock was sold at an average price of C$158.98, for a total transaction of C$397,450.00. Following the completion of the sale, the director now directly owns 2,434 shares in the company, valued at approximately C$386,957.32. Over the last 90 days, insiders have sold 12,449 shares of company stock valued at $1,973,187.

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, April 28th. Investors of record on Monday, March 28th were given a dividend of $1.61 per share. The ex-dividend date was Friday, March 25th. This represents a $6.44 annualized dividend and a dividend yield of 9.13%. Canadian Imperial Bank of Commerce’s dividend payout ratio is currently 20.78%.

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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