Q4 2023 EPS Estimates for Canadian Imperial Bank of Commerce Cut by Desjardins (NYSE:CM)

Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) – Analysts at Desjardins decreased their Q4 2023 earnings per share estimates for shares of Canadian Imperial Bank of Commerce in a research report issued on Thursday, August 31st. Desjardins analyst D. Young now forecasts that the bank will earn $1.16 per share for the quarter, down from their prior forecast of $1.26. The consensus estimate for Canadian Imperial Bank of Commerce’s current full-year earnings is $5.13 per share.

A number of other research firms have also commented on CM. StockNews.com initiated coverage on Canadian Imperial Bank of Commerce in a research report on Thursday, August 17th. They set a “hold” rating on the stock. Canaccord Genuity Group upgraded Canadian Imperial Bank of Commerce from a “hold” rating to a “buy” rating in a research report on Wednesday, May 10th. Royal Bank of Canada decreased their price target on Canadian Imperial Bank of Commerce from $72.00 to $67.00 and set a “sector perform” rating on the stock in a research report on Friday. CIBC upgraded Canadian Imperial Bank of Commerce from a “hold” rating to a “buy” rating in a research report on Tuesday, May 9th. Finally, BMO Capital Markets decreased their price objective on Canadian Imperial Bank of Commerce from $69.00 to $65.00 and set an “outperform” rating on the stock in a research report on Friday. One analyst has rated the stock with a sell rating, six have issued a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $63.00.

Canadian Imperial Bank of Commerce Stock Up 0.5 %

NYSE CM opened at $39.82 on Monday. The firm has a market cap of $36.80 billion, a PE ratio of 10.06, a price-to-earnings-growth ratio of 1.56 and a beta of 1.00. Canadian Imperial Bank of Commerce has a one year low of $39.11 and a one year high of $49.95. The stock’s 50 day simple moving average is $41.98 and its 200 day simple moving average is $42.46. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.06 and a quick ratio of 1.06.

Canadian Imperial Bank of Commerce Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, October 27th. Stockholders of record on Thursday, September 28th will be given a $0.657 dividend. This is a positive change from Canadian Imperial Bank of Commerce’s previous quarterly dividend of $0.64. This represents a $2.63 annualized dividend and a dividend yield of 6.60%. The ex-dividend date of this dividend is Wednesday, September 27th. Canadian Imperial Bank of Commerce’s dividend payout ratio (DPR) is currently 64.65%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Ridgewood Investments LLC bought a new position in shares of Canadian Imperial Bank of Commerce in the 1st quarter worth $25,000. Banque Cantonale Vaudoise boosted its position in shares of Canadian Imperial Bank of Commerce by 67.6% in the 4th quarter. Banque Cantonale Vaudoise now owns 744 shares of the bank’s stock worth $30,000 after purchasing an additional 300 shares during the last quarter. Pacifica Partners Inc. boosted its position in shares of Canadian Imperial Bank of Commerce by 65.9% in the 1st quarter. Pacifica Partners Inc. now owns 846 shares of the bank’s stock worth $36,000 after purchasing an additional 336 shares during the last quarter. GPS Wealth Strategies Group LLC bought a new position in shares of Canadian Imperial Bank of Commerce in the 1st quarter worth $41,000. Finally, NewEdge Advisors LLC boosted its position in shares of Canadian Imperial Bank of Commerce by 277.9% in the 1st quarter. NewEdge Advisors LLC now owns 1,126 shares of the bank’s stock worth $48,000 after purchasing an additional 828 shares during the last quarter. 43.72% of the stock is currently owned by institutional investors.

Canadian Imperial Bank of Commerce Company Profile

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.