Research Analysts Set Expectations for Canadian Imperial Bank of Commerce’s FY2024 Earnings (TSE:CM)

Canadian Imperial Bank of Commerce (TSE:CM) (NYSE:CM) – Equities research analysts at Desjardins increased their FY2024 earnings per share (EPS) estimates for shares of Canadian Imperial Bank of Commerce in a research note issued on Thursday, August 29th. Desjardins analyst D. Young now anticipates that the company will post earnings per share of $7.15 for the year, up from their previous estimate of $7.00. Desjardins currently has a “Buy” rating and a $83.00 price objective on the stock. The consensus estimate for Canadian Imperial Bank of Commerce’s current full-year earnings is $7.32 per share. Desjardins also issued estimates for Canadian Imperial Bank of Commerce’s FY2025 earnings at $7.45 EPS.

Canadian Imperial Bank of Commerce (TSE:CM) (NYSE:CM) last issued its quarterly earnings data on Thursday, May 30th. The company reported C$1.75 earnings per share (EPS) for the quarter, topping the consensus estimate of C$1.66 by C$0.09. The firm had revenue of C$6.16 billion during the quarter, compared to analysts’ expectations of C$6.11 billion. Canadian Imperial Bank of Commerce had a return on equity of 11.92% and a net margin of 29.25%.

A number of other equities analysts have also recently weighed in on the company. Bank of America raised Canadian Imperial Bank of Commerce from a “neutral” rating to a “buy” rating and boosted their price target for the stock from C$74.00 to C$90.00 in a report on Friday. Cormark raised Canadian Imperial Bank of Commerce from a “market perform” rating to a “buy” rating and boosted their price target for the stock from C$75.00 to C$83.00 in a report on Friday. Canaccord Genuity Group boosted their price target on Canadian Imperial Bank of Commerce from C$74.00 to C$75.00 in a report on Tuesday, August 13th. TD Securities cut their price target on Canadian Imperial Bank of Commerce from C$93.00 to C$91.00 and set a “buy” rating for the company in a report on Friday. Finally, Royal Bank of Canada boosted their price target on Canadian Imperial Bank of Commerce from C$69.00 to C$74.00 and gave the stock a “sector perform” rating in a report on Friday. One analyst has rated the stock with a sell rating, three have assigned a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat, Canadian Imperial Bank of Commerce presently has a consensus rating of “Moderate Buy” and an average target price of C$79.15.

Canadian Imperial Bank of Commerce Stock Performance

Shares of CM stock opened at C$78.76 on Monday. The stock has a fifty day moving average price of C$69.53 and a 200 day moving average price of C$67.29. The stock has a market cap of C$74.27 billion, a PE ratio of 12.02, a P/E/G ratio of 3.01 and a beta of 1.12. Canadian Imperial Bank of Commerce has a 1 year low of C$47.44 and a 1 year high of C$79.62.

Canadian Imperial Bank of Commerce Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, October 28th. Stockholders of record on Friday, September 27th will be given a $0.90 dividend. This represents a $3.60 annualized dividend and a dividend yield of 4.57%. The ex-dividend date of this dividend is Friday, September 27th. Canadian Imperial Bank of Commerce’s payout ratio is 54.96%.

Insider Transactions at Canadian Imperial Bank of Commerce

In related news, Senior Officer Christina Charlotte Kramer sold 23,782 shares of the business’s stock in a transaction dated Friday, June 7th. The stock was sold at an average price of C$67.50, for a total value of C$1,605,285.00. In related news, Senior Officer Christina Charlotte Kramer sold 23,782 shares of the business’s stock in a transaction dated Friday, June 7th. The stock was sold at an average price of C$67.50, for a total value of C$1,605,285.00. Also, Senior Officer John Hountalas sold 20,808 shares of the business’s stock in a transaction dated Monday, June 24th. The stock was sold at an average price of C$65.97, for a total value of C$1,372,672.55. Company insiders own 0.02% of the company’s stock.

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.