Cormark Research Analysts Lift Earnings Estimates for TSE:CM

Canadian Imperial Bank of Commerce (TSE:CM) (NYSE:CM) – Equities research analysts at Cormark increased their FY2024 earnings per share (EPS) estimates for shares of Canadian Imperial Bank of Commerce in a research note issued to investors on Monday, November 25th. Cormark analyst L. Persaud now anticipates that the company will post earnings of $7.29 per share for the year, up from their prior estimate of $7.26. Cormark 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. Cormark also issued estimates for Canadian Imperial Bank of Commerce’s FY2026 earnings at $8.22 EPS.

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

A number of other equities analysts also recently weighed in on the company. Bank of America upgraded Canadian Imperial Bank of Commerce from a “neutral” rating to a “buy” rating and boosted their target price for the stock from C$74.00 to C$90.00 in a research note on Friday, August 30th. TD Securities boosted their target price on Canadian Imperial Bank of Commerce from C$91.00 to C$98.00 in a research note on Friday, November 15th. National Bankshares boosted their target price on Canadian Imperial Bank of Commerce from C$86.00 to C$94.00 in a research note on Wednesday, November 20th. BMO Capital Markets lifted their price target on shares of Canadian Imperial Bank of Commerce from C$81.00 to C$99.00 in a report on Monday, November 18th. Finally, Scotiabank lifted their price target on shares of Canadian Imperial Bank of Commerce from C$85.00 to C$108.00 in a report on Monday. One analyst has rated the stock with a sell rating, three have issued a hold rating and eight have given a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of C$87.17.

Canadian Imperial Bank of Commerce Stock Down 0.4 %

Shares of TSE CM opened at C$91.06 on Tuesday. Canadian Imperial Bank of Commerce has a twelve month low of C$51.60 and a twelve month high of C$92.17. The stock’s 50 day moving average price is C$86.05 and its 200-day moving average price is C$75.02. The company has a market capitalization of C$86.05 billion, a PE ratio of 13.18, a PEG ratio of 3.03 and a beta of 1.12.

Insider Buying and Selling at Canadian Imperial Bank of Commerce

In other news, Director Harry Kenneth Culham sold 800 shares of the company’s stock in a transaction on Monday, September 30th. The shares were sold at an average price of C$83.20, for a total value of C$66,560.00. Also, Senior Officer Hratch Dikran Panossian sold 5,530 shares of the company’s stock in a transaction on Thursday, September 5th. The stock was sold at an average price of C$79.89, for a total transaction of C$441,791.70. Insiders have sold 203,057 shares of company stock valued at $16,823,249 in the last 90 days. 0.02% of the stock is currently owned by company insiders.

Canadian Imperial Bank of Commerce Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, October 28th. Shareholders of record on Friday, September 27th were issued a dividend of $0.90 per share. The ex-dividend date was Friday, September 27th. This represents a $3.60 dividend on an annualized basis and a yield of 3.95%. Canadian Imperial Bank of Commerce’s payout ratio is 52.10%.

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.