Cormark Has Optimistic Outlook of CM FY2025 Earnings

Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) – Investment analysts at Cormark increased their FY2025 earnings per share estimates for Canadian Imperial Bank of Commerce in a report issued on Friday, May 30th. Cormark analyst L. Persaud now forecasts that the bank will earn $5.90 per share for the year, up from their previous estimate of $5.78. The consensus estimate for Canadian Imperial Bank of Commerce’s current full-year earnings is $5.50 per share.

Several other analysts have also recently commented on the company. BMO Capital Markets increased their target price on Canadian Imperial Bank of Commerce from $98.00 to $102.00 and gave the stock an “outperform” rating in a report on Friday. Wall Street Zen upgraded Canadian Imperial Bank of Commerce from a “sell” rating to a “hold” rating in a report on Saturday, May 24th. Scotiabank began coverage on Canadian Imperial Bank of Commerce in a report on Thursday, May 15th. They issued a “sector outperform” rating on the stock. Royal Bank of Canada raised their price target on Canadian Imperial Bank of Commerce from $108.00 to $116.00 and gave the company an “outperform” rating in a report on Friday. Finally, National Bank Financial cut Canadian Imperial Bank of Commerce from an “outperform” rating to a “sector perform” rating in a report on Friday. Four investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, Canadian Imperial Bank of Commerce presently has an average rating of “Moderate Buy” and an average target price of $109.00.

Canadian Imperial Bank of Commerce Price Performance

Shares of CM stock opened at $67.94 on Monday. The stock’s fifty day moving average is $61.57 and its 200-day moving average is $61.97. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.05 and a current ratio of 1.05. The stock has a market capitalization of $63.87 billion, a PE ratio of 12.70, a PEG ratio of 1.62 and a beta of 1.06. Canadian Imperial Bank of Commerce has a 52 week low of $46.99 and a 52 week high of $69.88.

Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) last announced its earnings results on Thursday, May 29th. The bank reported $1.44 EPS for the quarter, topping the consensus estimate of $1.34 by $0.10. The company had revenue of $5.09 billion for the quarter, compared to analysts’ expectations of $4.78 billion. Canadian Imperial Bank of Commerce had a return on equity of 14.01% and a net margin of 11.10%. The business’s revenue for the quarter was up 13.9% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.75 earnings per share.

Canadian Imperial Bank of Commerce Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, July 28th. Investors of record on Friday, June 27th will be issued a $0.7024 dividend. This is a boost from Canadian Imperial Bank of Commerce’s previous quarterly dividend of $0.67. The ex-dividend date of this dividend is Friday, June 27th. This represents a $2.81 annualized dividend and a yield of 4.14%. Canadian Imperial Bank of Commerce’s dividend payout ratio (DPR) is currently 47.28%.

Hedge Funds Weigh In On Canadian Imperial Bank of Commerce

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in CM. Crews Bank & Trust bought a new position in Canadian Imperial Bank of Commerce during the fourth quarter worth about $25,000. Operose Advisors LLC bought a new position in Canadian Imperial Bank of Commerce during the fourth quarter worth about $26,000. HM Payson & Co. bought a new position in Canadian Imperial Bank of Commerce during the first quarter worth about $29,000. TruNorth Capital Management LLC boosted its holdings in Canadian Imperial Bank of Commerce by 156.0% during the first quarter. TruNorth Capital Management LLC now owns 512 shares of the bank’s stock worth $29,000 after buying an additional 312 shares during the last quarter. Finally, SBI Securities Co. Ltd. bought a new position in Canadian Imperial Bank of Commerce during the fourth quarter worth about $30,000. Institutional investors own 49.88% 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.