Cormark Has Bullish Estimate for CM FY2025 Earnings

Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) – Research analysts at Cormark boosted their FY2025 earnings per share estimates for shares of Canadian Imperial Bank of Commerce in a research report issued to clients and investors on Friday, May 30th. Cormark analyst L. Persaud now expects that the bank will post earnings per share of $5.90 for the year, up from their prior 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. Jefferies Financial Group cut Canadian Imperial Bank of Commerce from a “buy” rating to a “hold” rating in a report on Monday, April 21st. BMO Capital Markets raised their price target on Canadian Imperial Bank of Commerce from $98.00 to $102.00 and gave the company an “outperform” rating in a report on Friday, May 30th. 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, May 30th. National Bank Financial cut Canadian Imperial Bank of Commerce from an “outperform” rating to a “sector perform” rating in a report on Friday, May 30th. Finally, Scotiabank initiated coverage on Canadian Imperial Bank of Commerce in a report on Thursday, May 15th. They issued a “sector outperform” rating for the company. Four investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $109.00.

Canadian Imperial Bank of Commerce Stock Up 0.0%

Canadian Imperial Bank of Commerce stock opened at $67.76 on Monday. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 0.14. The stock has a 50 day moving average of $61.97 and a two-hundred day moving average of $62.04. The stock has a market capitalization of $63.70 billion, a price-to-earnings ratio of 12.66, a PEG ratio of 1.62 and a beta of 1.06. Canadian Imperial Bank of Commerce has a twelve month low of $46.99 and a twelve month high of $69.88.

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

Hedge Funds Weigh In On Canadian Imperial Bank of Commerce

Several hedge funds have recently bought and sold shares of the company. PDS Planning Inc increased its position in Canadian Imperial Bank of Commerce by 3.8% during the fourth quarter. PDS Planning Inc now owns 5,167 shares of the bank’s stock worth $327,000 after buying an additional 189 shares in the last quarter. Gradient Investments LLC increased its position in Canadian Imperial Bank of Commerce by 2.4% during the first quarter. Gradient Investments LLC now owns 8,278 shares of the bank’s stock worth $466,000 after buying an additional 191 shares in the last quarter. Wealth Enhancement Advisory Services LLC grew its position in shares of Canadian Imperial Bank of Commerce by 4.9% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 4,161 shares of the bank’s stock valued at $255,000 after purchasing an additional 194 shares during the period. Benjamin Edwards Inc. grew its position in shares of Canadian Imperial Bank of Commerce by 5.3% in the first quarter. Benjamin Edwards Inc. now owns 4,320 shares of the bank’s stock valued at $243,000 after purchasing an additional 216 shares during the period. Finally, Mesirow Financial Investment Management Inc. grew its position in Canadian Imperial Bank of Commerce by 0.7% during the fourth quarter. Mesirow Financial Investment Management Inc. now owns 33,094 shares of the bank’s stock valued at $2,092,000 after acquiring an additional 222 shares during the period. 49.88% of the stock is owned by hedge funds and other institutional investors.

Canadian Imperial Bank of Commerce Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, July 28th. Investors of record on Friday, June 27th will be paid a $0.7024 dividend. This is an increase from Canadian Imperial Bank of Commerce’s previous quarterly dividend of $0.67. This represents a $2.81 annualized dividend and a yield of 4.15%. The ex-dividend date of this dividend is Friday, June 27th. Canadian Imperial Bank of Commerce’s dividend payout ratio (DPR) is presently 47.28%.

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.