Desjardins Has Positive Forecast for TSE:CM FY2025 Earnings

Key Points

• Desjardins has raised its earnings estimate for the Canadian Imperial Bank of Commerce for FY2025 from $8.15 to $8.35 per share, maintaining a "Buy" rating with a target price of $113.00.
• Other analysts, such as TD Securities and Scotiabank, also increased their target prices for the bank's stock, suggesting a generally positive outlook in the market.
• Canadian Imperial Bank of Commerce announced a quarterly dividend of $0.97 per share, representing a 3.7% annualized yield with a payout ratio of approximately 46.98%.

Canadian Imperial Bank of Commerce (TSE:CM - Free Report) NYSE: CM - Research analysts at Desjardins raised their FY2025 earnings estimates for Canadian Imperial Bank of Commerce in a research note issued to investors on Thursday, August 28th. Desjardins analyst D. Young now forecasts that the company will post earnings per share of $8.35 for the year, up from their prior forecast of $8.15. Desjardins has a "Buy" rating and a $113.00 price objective on the stock. The consensus estimate for Canadian Imperial Bank of Commerce's current full-year earnings is $6.41 per share. Desjardins also issued estimates for Canadian Imperial Bank of Commerce's FY2026 earnings at $8.75 EPS.

Other equities research analysts have also recently issued reports about the company. TD Securities upped their price target on Canadian Imperial Bank of Commerce from C$110.00 to C$117.00 and gave the company a "buy" rating in a research report on Friday, August 29th. National Bankshares upped their price target on Canadian Imperial Bank of Commerce from C$99.00 to C$110.00 and gave the company a "sector perform" rating in a research report on Friday, August 29th. Canaccord Genuity Group upped their price target on Canadian Imperial Bank of Commerce from C$102.00 to C$111.00 and gave the company a "hold" rating in a research report on Friday, August 29th. BMO Capital Markets upped their price target on Canadian Imperial Bank of Commerce from C$107.00 to C$112.00 in a research report on Friday, August 29th. Finally, National Bank Financial cut Canadian Imperial Bank of Commerce from an "outperform" rating to a "sector perform" rating in a research report on Thursday, May 29th. Four research analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat.com, Canadian Imperial Bank of Commerce currently has a consensus rating of "Hold" and an average price target of C$108.25.

Canadian Imperial Bank of Commerce Price Performance

TSE:CM traded up C$0.77 on Monday, reaching C$108.96. 751,089 shares of the company's stock were exchanged, compared to its average volume of 3,544,753. The stock has a fifty day simple moving average of C$100.53 and a 200-day simple moving average of C$91.55. Canadian Imperial Bank of Commerce has a 52 week low of C$76.17 and a 52 week high of C$109.07. The firm has a market cap of C$102.43 billion, a price-to-earnings ratio of 13.18, a P/E/G ratio of 3.03 and a beta of 1.34.

Canadian Imperial Bank of Commerce Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, July 28th. Stockholders of record on Monday, July 28th were given a dividend of $0.97 per share. This represents a $3.88 dividend on an annualized basis and a dividend yield of 3.6%. The ex-dividend date was Friday, June 27th. Canadian Imperial Bank of Commerce's dividend payout ratio (DPR) is 46.07%.

Insider Activity

In other news, Senior Officer Hratch Dikran Panossian sold 9,006 shares of the stock in a transaction dated Monday, June 23rd. The stock was sold at an average price of C$94.96, for a total transaction of C$855,240.38. Also, Senior Officer Shawn Beber sold 9,107 shares of the stock in a transaction dated Friday, June 6th. The shares were sold at an average price of C$94.28, for a total value of C$858,567.89. Insiders have sold a total of 30,329 shares of company stock worth $2,850,318 over the last quarter. Corporate insiders own 0.02% of the company's stock.

About Canadian Imperial Bank of Commerce

Canadian Imperial Bank of Commerce is Canada's fifth- largest bank, operating three business segments: retail and business banking, wealth management, and capital markets. It serves approximately 11 million personal banking and business customers, primarily in Canada.