FY2024 Earnings Estimate for TSE:CM Issued By Desjardins

Canadian Imperial Bank of Commerce (TSE:CM - Free Report) NYSE: CM - Stock analysts at Desjardins boosted their FY2024 earnings estimates for Canadian Imperial Bank of Commerce in a research report issued on Friday, November 1st. Desjardins analyst D. Young now forecasts that the company will post earnings of $7.26 per share for the year, up from their prior forecast of $7.15. Desjardins 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 $6.41 per share.

Canadian Imperial Bank of Commerce (TSE:CM - Get Free Report) NYSE: CM last issued its earnings results on Thursday, August 29th. The company reported C$1.93 earnings per share for the quarter, topping the consensus estimate of C$1.75 by C$0.18. The firm had revenue of C$6.60 billion for the quarter, compared to analyst estimates of C$6.31 billion. Canadian Imperial Bank of Commerce had a return on equity of 12.37% and a net margin of 29.56%.

Other research analysts have also recently issued research reports about the stock. National Bankshares upped their target price on shares of Canadian Imperial Bank of Commerce from C$78.00 to C$86.00 and gave the stock an "outperform" rating in a research report on Friday, August 30th. Royal Bank of Canada raised their target price on Canadian Imperial Bank of Commerce from C$69.00 to C$74.00 and gave the company a "sector perform" rating in a research report on Friday, August 30th. BMO Capital Markets boosted their price target on Canadian Imperial Bank of Commerce from C$77.00 to C$81.00 and gave the stock an "outperform" rating in a research report on Friday, August 30th. TD Securities lowered their price target on Canadian Imperial Bank of Commerce from C$93.00 to C$91.00 and set a "buy" rating on the stock in a report on Friday, August 30th. Finally, Canaccord Genuity Group upped their price objective on shares of Canadian Imperial Bank of Commerce from C$74.00 to C$75.00 in a report on Tuesday, August 13th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat.com, Canadian Imperial Bank of Commerce has a consensus rating of "Moderate Buy" and a consensus target price of C$79.15.

Canadian Imperial Bank of Commerce Stock Performance

Shares of Canadian Imperial Bank of Commerce stock traded up C$0.04 during trading on Monday, hitting C$87.92. 2,249,118 shares of the stock were exchanged, compared to its average volume of 3,764,341. The stock has a market cap of C$83.08 billion, a PE ratio of 12.72, a P/E/G ratio of 3.03 and a beta of 1.12. The stock's fifty day moving average is C$82.23 and its 200 day moving average is C$72.44. Canadian Imperial Bank of Commerce has a 12 month low of C$51.43 and a 12 month high of C$88.56.

Canadian Imperial Bank of Commerce Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, October 28th. Stockholders of record on Friday, September 27th were given a dividend of $0.90 per share. The ex-dividend date was Friday, September 27th. This represents a $3.60 annualized dividend and a dividend yield of 4.09%. Canadian Imperial Bank of Commerce's dividend payout ratio (DPR) is 52.10%.

Insider Transactions at Canadian Imperial Bank of Commerce

In other Canadian Imperial Bank of Commerce news, Director Harry Kenneth Culham sold 50,000 shares of the company's stock in a transaction on Monday, September 9th. The stock was sold at an average price of C$81.87, for a total value of C$4,093,500.00. In other Canadian Imperial Bank of Commerce news, Senior Officer Christina Charlotte Kramer sold 37,022 shares of the company's stock in a transaction dated Monday, September 16th. The shares were sold at an average price of C$83.40, for a total transaction of C$3,087,634.80. Also, Director Harry Kenneth Culham sold 50,000 shares of the firm's stock in a transaction dated Monday, September 9th. The stock was sold at an average price of C$81.87, for a total transaction of C$4,093,500.00. Insiders have sold 203,057 shares of company stock valued at $16,823,249 in the last quarter. Insiders own 0.02% of the company's stock.

About Canadian Imperial Bank of Commerce

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.