FY2024 EPS Estimates for TSE:CM Decreased by Analyst

Canadian Imperial Bank of Commerce (TSE:CM) (NYSE:CM) – National Bank Financial dropped their FY2024 EPS estimates for Canadian Imperial Bank of Commerce in a report released on Tuesday, November 19th. National Bank Financial analyst G. Dechaine now forecasts that the company will earn $7.27 per share for the year, down from their prior forecast of $7.28. The consensus estimate for Canadian Imperial Bank of Commerce’s current full-year earnings is $6.41 per share.

Other equities analysts have also issued research reports about the stock. Barclays increased their price objective on shares of Canadian Imperial Bank of Commerce from C$71.00 to C$77.00 and gave the company an “underweight” rating in a research report on Friday, August 30th. Jefferies Financial Group lowered their price objective on shares of Canadian Imperial Bank of Commerce from C$79.00 to C$78.00 and set a “buy” rating for the company in a research report on Monday, August 12th. TD Securities raised their target price on shares of Canadian Imperial Bank of Commerce from C$91.00 to C$98.00 in a report on Friday, November 15th. Bank of America upgraded shares of Canadian Imperial Bank of Commerce from a “neutral” rating to a “buy” rating and raised their target price for the stock from C$74.00 to C$90.00 in a report on Friday, August 30th. Finally, Royal Bank of Canada raised their target price on shares of 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, August 30th. One analyst has rated the stock with a sell rating, three have given a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of C$83.00.

Canadian Imperial Bank of Commerce Stock Performance

CM opened at C$91.48 on Friday. The stock has a market capitalization of C$86.45 billion, a price-to-earnings ratio of 13.24, a PEG ratio of 3.03 and a beta of 1.12. The company has a fifty day moving average of C$85.69 and a 200 day moving average of C$74.58. Canadian Imperial Bank of Commerce has a fifty-two week low of C$51.60 and a fifty-two week high of C$91.63.

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

Canadian Imperial Bank of Commerce Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, October 28th. Shareholders of record on Friday, September 27th were paid a dividend of $0.90 per share. This represents a $3.60 annualized dividend and a yield of 3.94%. The ex-dividend date was Friday, September 27th. Canadian Imperial Bank of Commerce’s payout ratio is 52.10%.

Insider Buying and Selling at Canadian Imperial Bank of Commerce

In other news, Senior Officer Hratch Dikran Panossian sold 5,530 shares of the business’s stock in a transaction dated Thursday, September 5th. The shares were sold at an average price of C$79.89, for a total transaction of C$441,791.70. Also, Director Harry Kenneth Culham sold 800 shares of the company’s stock in a transaction dated Monday, September 30th. The shares were sold at an average price of C$83.20, for a total transaction of C$66,560.00. In the last ninety days, insiders sold 203,057 shares of company stock worth $16,823,249. 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.