Desjardins Has Positive Outlook of CM FY2025 Earnings

Key Points

• Desjardins raised its FY2025 EPS estimate for Canadian Imperial Bank of Commerce (CM) from $5.84 to $5.95, indicating a positive outlook compared to the consensus estimate of $5.50 per share.
• The bank's stock has recently traded down 0.2% to $73.20, with a market cap of $68.18 billion and a price-to-earnings ratio of 12.88.
• Canadian Imperial Bank of Commerce announced a quarterly dividend increase to $0.7024 per share, representing an annualized yield of 3.8%.

Canadian Imperial Bank of Commerce (NYSE:CM - Free Report) TSE: CM - Equities research analysts at Desjardins raised their FY2025 EPS estimates for Canadian Imperial Bank of Commerce in a report issued on Tuesday, August 12th. Desjardins analyst D. Young now expects that the bank will earn $5.95 per share for the year, up from their prior forecast of $5.84. The consensus estimate for Canadian Imperial Bank of Commerce's current full-year earnings is $5.50 per share. Desjardins also issued estimates for Canadian Imperial Bank of Commerce's FY2026 earnings at $6.31 EPS.

CM has been the subject of several other research reports. Scotiabank initiated coverage on shares of Canadian Imperial Bank of Commerce in a research report on Thursday, May 15th. They issued a "sector outperform" rating for the company. BMO Capital Markets upped their price target 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. 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, August 9th. Royal Bank Of Canada upped their target price on shares of 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. Finally, Jefferies Financial Group cut shares of Canadian Imperial Bank of Commerce from a "buy" rating to a "hold" rating in a research report on Monday, April 21st. Three equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $109.00.

Canadian Imperial Bank of Commerce Trading Down 0.2%

Shares of CM traded down $0.15 during trading on Thursday, reaching $73.20. 56,453 shares of the company traded hands, compared to its average volume of 1,169,134. Canadian Imperial Bank of Commerce has a twelve month low of $51.44 and a twelve month high of $74.63. The stock has a market cap of $68.18 billion, a PE ratio of 12.88, a price-to-earnings-growth ratio of 1.58 and a beta of 1.06. The stock has a 50-day simple moving average of $71.37 and a 200-day simple moving average of $64.58. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 0.16.

Canadian Imperial Bank of Commerce (NYSE:CM - Get Free Report) TSE: CM last released its quarterly earnings results on Thursday, May 29th. The bank reported $1.44 EPS for the quarter, beating the consensus estimate of $1.34 by $0.10. Canadian Imperial Bank of Commerce had a net margin of 12.19% and a return on equity of 14.51%. 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 business earned $1.75 earnings per share. The firm's revenue was up 13.9% on a year-over-year basis.

Canadian Imperial Bank of Commerce Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, July 28th. Shareholders of record on Friday, June 27th were paid a $0.7024 dividend. This represents a $2.81 dividend on an annualized basis and a yield of 3.8%. This is a boost from Canadian Imperial Bank of Commerce's previous quarterly dividend of $0.67. The ex-dividend date of this dividend was Friday, June 27th. Canadian Imperial Bank of Commerce's payout ratio is 49.56%.

Hedge Funds Weigh In On Canadian Imperial Bank of Commerce

Hedge funds have recently made changes to their positions in the stock. Vanguard Group Inc. grew its position in shares of Canadian Imperial Bank of Commerce by 3.5% during the second quarter. Vanguard Group Inc. now owns 41,410,285 shares of the bank's stock valued at $2,939,385,000 after purchasing an additional 1,382,123 shares in the last quarter. Toronto Dominion Bank boosted its holdings in 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 during the last quarter. Bank of Nova Scotia boosted its stake in shares of Canadian Imperial Bank of Commerce by 4.5% during the 1st quarter. Bank of Nova Scotia now owns 17,967,436 shares of the bank's stock worth $1,010,849,000 after acquiring an additional 773,174 shares in the last quarter. JPMorgan Chase & Co. lifted its stake in Canadian Imperial Bank of Commerce by 31.6% in the 1st quarter. JPMorgan Chase & Co. now owns 10,581,914 shares of the bank's stock valued at $595,762,000 after buying an additional 2,538,808 shares in the last quarter. Finally, Norges Bank acquired a new stake in Canadian Imperial Bank of Commerce in the 2nd quarter valued at about $730,245,000. 49.88% of the stock is currently owned by hedge funds and other 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.

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