Cormark Has Bullish Outlook for CM FY2025 Earnings

Canadian Imperial Bank of Commerce (NYSE:CM - Free Report) TSE: CM - Analysts at Cormark upped their FY2025 earnings estimates for shares of Canadian Imperial Bank of Commerce in a report issued 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 previous forecast of $5.78. The consensus estimate for Canadian Imperial Bank of Commerce's current full-year earnings is $5.50 per share.

Several other research analysts have also issued reports on CM. Wall Street Zen raised shares of Canadian Imperial Bank of Commerce from a "sell" rating to a "hold" rating in a research note on Saturday, May 24th. Jefferies Financial Group cut Canadian Imperial Bank of Commerce from a "buy" rating to a "hold" rating in a report on Monday, April 21st. National Bank Financial lowered shares of Canadian Imperial Bank of Commerce from an "outperform" rating to a "sector perform" rating in a research note on Friday, May 30th. BMO Capital Markets lifted their price objective on shares of Canadian Imperial Bank of Commerce from $98.00 to $102.00 and gave the stock an "outperform" rating in a research note on Friday, May 30th. Finally, Scotiabank started coverage on shares of Canadian Imperial Bank of Commerce in a research report on Thursday, May 15th. They set a "sector outperform" rating on the stock. Four analysts have rated the stock with a hold rating and four have given a buy rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $109.00.

Canadian Imperial Bank of Commerce Price Performance

CM stock traded up $0.84 during trading on Monday, hitting $68.70. The company had a trading volume of 820,606 shares, compared to its average volume of 1,127,098. The company has a market cap of $64.59 billion, a P/E ratio of 12.84, a P/E/G ratio of 1.62 and a beta of 1.05. 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 company has a fifty day moving average price of $62.20 and a two-hundred day moving average price of $62.08. Canadian Imperial Bank of Commerce has a fifty-two week low of $46.99 and a fifty-two week high of $69.88.

Canadian Imperial Bank of Commerce (NYSE:CM - Get Free Report) TSE: CM last announced its quarterly earnings data on Thursday, May 29th. The bank reported $1.44 earnings per share for the quarter, topping the consensus estimate 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 for the quarter, compared to analyst estimates of $4.78 billion. During the same quarter last year, the firm earned $1.75 EPS. Canadian Imperial Bank of Commerce's revenue for the quarter was up 13.9% compared to the same quarter last year.

Canadian Imperial Bank of Commerce Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, July 28th. Shareholders of record on Friday, June 27th will be paid a $0.7024 dividend. The ex-dividend date of this dividend is Friday, June 27th. This represents a $2.81 dividend on an annualized basis and a yield of 4.09%. This is a positive change from Canadian Imperial Bank of Commerce's previous quarterly dividend of $0.67. Canadian Imperial Bank of Commerce's payout ratio is presently 49.56%.

Institutional Investors Weigh In On Canadian Imperial Bank of Commerce

Institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. lifted its holdings in shares of Canadian Imperial Bank of Commerce by 1.6% in the first quarter. Vanguard Group Inc. now owns 40,028,162 shares of the bank's stock valued at $2,251,664,000 after purchasing an additional 642,924 shares in the last quarter. TD Asset Management Inc. lifted its holdings in shares of Canadian Imperial Bank of Commerce by 3.7% in the fourth quarter. TD Asset Management Inc. now owns 23,600,495 shares of the bank's stock valued at $1,492,138,000 after purchasing an additional 851,164 shares in the last quarter. Toronto Dominion Bank lifted its holdings in shares of Canadian Imperial Bank of Commerce by 1.1% in the fourth quarter. Toronto Dominion Bank now owns 22,138,015 shares of the bank's stock valued at $1,398,619,000 after purchasing an additional 234,088 shares in the last quarter. Bank of Nova Scotia lifted its stake in Canadian Imperial Bank of Commerce by 4.5% in the 1st quarter. Bank of Nova Scotia now owns 17,967,436 shares of the bank's stock valued at $1,010,849,000 after acquiring an additional 773,174 shares in the last quarter. Finally, FIL Ltd lifted its stake in Canadian Imperial Bank of Commerce by 53.6% in the 4th quarter. FIL Ltd now owns 12,387,607 shares of the bank's stock valued at $783,613,000 after acquiring an additional 4,321,451 shares in the last quarter. 49.88% of the stock is owned by institutional investors.

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.