Canadian Imperial Bank of Commerce (TSE:CM) to Post Q3 2023 Earnings of $1.74 Per Share, National Bank Financial Forecasts

Canadian Imperial Bank of Commerce (TSE:CM – Get Rating) (NYSE:CM) – National Bank Financial decreased their Q3 2023 earnings per share estimates for shares of Canadian Imperial Bank of Commerce in a report released on Wednesday, May 17th. National Bank Financial analyst G. Dechaine now forecasts that the company will earn $1.74 per share for the quarter, down from their previous estimate of $1.79. The consensus estimate for Canadian Imperial Bank of Commerce’s current full-year earnings is $6.95 per share.

A number of other research analysts also recently weighed in on CM. Scotiabank increased their price target on Canadian Imperial Bank of Commerce from C$65.00 to C$66.00 in a research note on Monday, February 27th. TD Securities increased their price target on Canadian Imperial Bank of Commerce from C$59.00 to C$62.00 and gave the company a “hold” rating in a research note on Monday, February 27th. Barclays reduced their target price on Canadian Imperial Bank of Commerce from C$65.00 to C$56.00 in a report on Tuesday, May 9th. National Bankshares reduced their target price on Canadian Imperial Bank of Commerce from C$64.00 to C$62.00 in a report on Thursday. Finally, CIBC lifted their target price on Canadian Imperial Bank of Commerce from C$66.00 to C$66.50 in a report on Monday, February 27th. Seven analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of C$66.37.

Canadian Imperial Bank of Commerce Stock Performance

Shares of CM opened at C$56.14 on Friday. The firm has a market capitalization of C$51.18 billion, a price-to-earnings ratio of 11.18, a PEG ratio of 27.22 and a beta of 1.04. The business’s fifty day moving average price is C$56.77 and its two-hundred day moving average price is C$58.87. Canadian Imperial Bank of Commerce has a 52 week low of C$53.58 and a 52 week high of C$71.10.

Canadian Imperial Bank of Commerce (TSE:CM – Get Rating) (NYSE:CM) last released its quarterly earnings results on Friday, February 24th. The company reported C$1.94 EPS for the quarter, topping analysts’ consensus estimates of C$1.66 by C$0.28. The business had revenue of C$5.93 billion for the quarter. Canadian Imperial Bank of Commerce had a return on equity of 9.89% and a net margin of 22.77%.

Insider Activity at Canadian Imperial Bank of Commerce

In related news, Director Victor George Dodig purchased 34,850 shares of the business’s stock in a transaction that occurred on Thursday, March 16th. The stock was acquired at an average cost of C$57.65 per share, for a total transaction of C$2,009,102.50. 0.06% of the stock is currently owned by corporate insiders.

Canadian Imperial Bank of Commerce Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, April 28th. Investors of record on Tuesday, March 28th were paid a $0.85 dividend. This represents a $3.40 annualized dividend and a dividend yield of 6.06%. The ex-dividend date was Monday, March 27th. Canadian Imperial Bank of Commerce’s dividend payout ratio (DPR) is currently 67.73%.

About Canadian Imperial Bank of Commerce

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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 Canadian Personal and Business Banking; Canadian Commercial Banking and Wealth Management; U.S.