Canadian Imperial Bank of Commerce to Post FY2024 Earnings of $5.13 Per Share, National Bank Financial Forecasts (NYSE:CM)

Canadian Imperial Bank of Commerce (NYSE:CMFree Report) (TSE:CM) – Stock analysts at National Bank Financial dropped their FY2024 earnings per share (EPS) estimates for Canadian Imperial Bank of Commerce in a research note issued on Thursday, May 30th. National Bank Financial analyst G. Dechaine now anticipates that the bank will earn $5.13 per share for the year, down from their previous forecast of $5.14. The consensus estimate for Canadian Imperial Bank of Commerce’s current full-year earnings is $5.04 per share. National Bank Financial also issued estimates for Canadian Imperial Bank of Commerce’s Q4 2024 earnings at $1.22 EPS and FY2025 earnings at $5.38 EPS.

Canadian Imperial Bank of Commerce (NYSE:CMGet Free Report) (TSE:CM) last announced its earnings results on Thursday, February 29th. The bank reported $1.34 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.24 by $0.10. The business had revenue of $4.60 billion for the quarter, compared to analysts’ expectations of $4.47 billion. Canadian Imperial Bank of Commerce had a return on equity of 13.14% and a net margin of 10.46%.

A number of other research firms have also recently weighed in on CM. Scotiabank raised Canadian Imperial Bank of Commerce from a “sector perform” rating to a “sector outperform” rating in a research report on Tuesday, February 20th. Barclays assumed coverage on Canadian Imperial Bank of Commerce in a research report on Wednesday, March 20th. They issued an “underweight” rating for the company. BMO Capital Markets raised their price objective on Canadian Imperial Bank of Commerce from $74.00 to $77.00 and gave the stock an “outperform” rating in a research report on Friday. Finally, Jefferies Financial Group started coverage on Canadian Imperial Bank of Commerce in a research report on Thursday, February 22nd. They issued a “buy” rating for the company. One research analyst has rated the stock with a sell rating, three have issued a hold rating and four have given a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $67.00.

Check Out Our Latest Research Report on Canadian Imperial Bank of Commerce

Canadian Imperial Bank of Commerce Stock Down 2.1 %

Canadian Imperial Bank of Commerce stock opened at $49.54 on Monday. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.05 and a quick ratio of 1.05. The stock has a market capitalization of $46.72 billion, a price-to-earnings ratio of 10.19, a PEG ratio of 2.27 and a beta of 1.07. Canadian Imperial Bank of Commerce has a 1-year low of $34.35 and a 1-year high of $51.14. The business has a fifty day moving average price of $48.71 and a 200-day moving average price of $46.76.

Canadian Imperial Bank of Commerce Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, July 29th. Investors of record on Friday, June 28th will be paid a $0.653 dividend. The ex-dividend date is Friday, June 28th. This represents a $2.61 dividend on an annualized basis and a yield of 5.27%. Canadian Imperial Bank of Commerce’s dividend payout ratio (DPR) is 54.53%.

Hedge Funds Weigh In On Canadian Imperial Bank of Commerce

A number of institutional investors have recently modified their holdings of CM. Bruce G. Allen Investments LLC acquired a new stake in shares of Canadian Imperial Bank of Commerce during the 4th quarter valued at about $33,000. Glassman Wealth Services grew its position in shares of Canadian Imperial Bank of Commerce by 57.5% during the 4th quarter. Glassman Wealth Services now owns 693 shares of the bank’s stock valued at $33,000 after acquiring an additional 253 shares during the period. Janiczek Wealth Management LLC grew its position in shares of Canadian Imperial Bank of Commerce by 34.9% during the 4th quarter. Janiczek Wealth Management LLC now owns 859 shares of the bank’s stock valued at $41,000 after acquiring an additional 222 shares during the period. EverSource Wealth Advisors LLC grew its position in shares of Canadian Imperial Bank of Commerce by 574.7% during the 4th quarter. EverSource Wealth Advisors LLC now owns 1,066 shares of the bank’s stock valued at $51,000 after acquiring an additional 908 shares during the period. Finally, Principal Securities Inc. acquired a new stake in Canadian Imperial Bank of Commerce in the 4th quarter worth about $64,000. Hedge funds and other institutional investors own 49.88% of the company’s stock.

Canadian Imperial Bank of Commerce Company Profile

(Get Free Report)

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.

Further Reading

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

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