Research Analysts Set Expectations for CM FY2024 Earnings

Canadian Imperial Bank of Commerce (NYSE:CM - Free Report) TSE: CM - National Bank Financial reduced their FY2024 EPS estimates for shares of Canadian Imperial Bank of Commerce in a note issued to investors on Tuesday, November 19th. National Bank Financial analyst G. Dechaine now expects that the bank will earn $5.23 per share for the year, down from their prior estimate of $5.39. The consensus estimate for Canadian Imperial Bank of Commerce's current full-year earnings is $5.34 per share. National Bank Financial also issued estimates for Canadian Imperial Bank of Commerce's Q4 2024 earnings at $1.28 EPS and FY2025 earnings at $5.71 EPS.

Other research analysts also recently issued reports about the company. Cormark raised Canadian Imperial Bank of Commerce from a "hold" rating to a "moderate buy" rating in a report on Friday, August 30th. Bank of America raised Canadian Imperial Bank of Commerce from a "neutral" rating to a "buy" rating in a research report on Friday, August 30th. StockNews.com cut shares of Canadian Imperial Bank of Commerce from a "hold" rating to a "sell" rating in a report on Saturday, October 19th. Desjardins upgraded Canadian Imperial Bank of Commerce from a "hold" rating to a "moderate buy" rating in a research note on Friday, August 2nd. Finally, BMO Capital Markets lifted their price target on Canadian Imperial Bank of Commerce from $77.00 to $81.00 and gave the stock an "outperform" rating in a report on Friday, August 30th. Two research analysts have rated the stock with a sell rating, one has assigned a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, Canadian Imperial Bank of Commerce currently has a consensus rating of "Hold" and a consensus price target of $81.00.

Canadian Imperial Bank of Commerce Trading Up 0.3 %

Canadian Imperial Bank of Commerce stock traded up $0.21 during mid-day trading on Friday, hitting $65.42. The company's stock had a trading volume of 306,543 shares, compared to its average volume of 1,377,494. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.05 and a quick ratio of 1.05. The stock has a market cap of $61.80 billion, a price-to-earnings ratio of 12.82, a price-to-earnings-growth ratio of 1.86 and a beta of 1.06. The business has a 50 day moving average price of $62.36 and a 200-day moving average price of $54.84. Canadian Imperial Bank of Commerce has a 12 month low of $37.97 and a 12 month high of $65.49.

Canadian Imperial Bank of Commerce (NYSE:CM - Get Free Report) TSE: CM last issued its earnings results on Thursday, August 29th. The bank reported $1.93 earnings per share for the quarter, topping analysts' consensus estimates of $1.74 by $0.19. The business had revenue of $6.60 billion during the quarter, compared to the consensus estimate of $6.28 billion. Canadian Imperial Bank of Commerce had a return on equity of 13.50% and a net margin of 10.66%. The firm's revenue for the quarter was up 12.9% on a year-over-year basis. During the same period in the previous year, the company posted $1.14 earnings per share.

Canadian Imperial Bank of Commerce Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, October 28th. Shareholders of record on Friday, September 27th were given a $0.652 dividend. This represents a $2.61 annualized dividend and a yield of 3.99%. The ex-dividend date was Friday, September 27th. Canadian Imperial Bank of Commerce's dividend payout ratio (DPR) is presently 52.46%.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the company. Ridgewood Investments LLC acquired a new stake in Canadian Imperial Bank of Commerce during the second quarter valued at approximately $29,000. BNP Paribas Financial Markets acquired a new stake in Canadian Imperial Bank of Commerce in the third quarter worth about $44,000. Blue Trust Inc. grew its stake in Canadian Imperial Bank of Commerce by 571.6% in the third quarter. Blue Trust Inc. now owns 732 shares of the bank's stock valued at $45,000 after acquiring an additional 623 shares during the period. Whittier Trust Co. of Nevada Inc. bought a new position in shares of Canadian Imperial Bank of Commerce in the 2nd quarter valued at about $51,000. Finally, Massmutual Trust Co. FSB ADV increased its holdings in shares of Canadian Imperial Bank of Commerce by 23.1% in the third quarter. Massmutual Trust Co. FSB ADV now owns 911 shares of the bank's stock valued at $56,000 after purchasing an additional 171 shares during the last quarter. Institutional investors and hedge funds 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.