FY2025 Earnings Forecast for CM Issued By Desjardins

Key Points

• Desjardins has raised its FY2025 earnings estimate for Canadian Imperial Bank of Commerce to $6.01 per share, up from a previous estimate of $5.95, surpassing the current consensus estimate of $5.50.
• The bank recently declared a quarterly dividend of $0.97 per share, representing a significant increase from the prior $0.70 and providing a yield of 5.0%.
• Several institutional investors, including Norges Bank and Goldman Sachs, have significantly increased their holdings in Canadian Imperial Bank of Commerce, reflecting growing confidence in the stock.

Canadian Imperial Bank of Commerce (NYSE:CM - Free Report) TSE: CM - Stock analysts at Desjardins increased 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 anticipates that the bank will post earnings of $6.01 per share for the year, up from their prior estimate of $5.95. The consensus estimate for Canadian Imperial Bank of Commerce's current full-year earnings is $5.50 per share.

Several other equities research analysts have also commented on CM. National Bank Financial lowered shares of Canadian Imperial Bank of Commerce from an "outperform" rating to a "sector perform" rating in a research report 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. Scotiabank began coverage on Canadian Imperial Bank of Commerce in a research note on Thursday, May 15th. They issued a "sector outperform" rating on the stock. Royal Bank Of Canada raised their price target on Canadian Imperial Bank of Commerce from $112.00 to $113.00 and gave the stock an "outperform" rating in a research report on Friday. Finally, BMO Capital Markets lifted their price objective on Canadian Imperial Bank of Commerce from $98.00 to $102.00 and gave the stock an "outperform" rating in a research report on Friday, May 30th. Three equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $107.50.

Canadian Imperial Bank of Commerce Stock Performance

NYSE CM opened at $77.20 on Monday. Canadian Imperial Bank of Commerce has a 1-year low of $53.62 and a 1-year high of $77.73. The company has a market capitalization of $71.75 billion, a P/E ratio of 13.04, a PEG ratio of 1.68 and a beta of 1.03. The business has a 50 day moving average price of $72.72 and a 200 day moving average price of $65.59. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.04 and a quick ratio of 1.04.

Canadian Imperial Bank of Commerce (NYSE:CM - Get Free Report) TSE: CM last posted its quarterly earnings results on Thursday, August 28th. The bank reported $1.57 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.43 by $0.14. The company had revenue of $5.24 billion during the quarter, compared to the consensus estimate of $5.12 billion. Canadian Imperial Bank of Commerce had a net margin of 12.94% and a return on equity of 14.67%. The company's revenue for the quarter was up 3.3% on a year-over-year basis. During the same period last year, the firm earned $1.93 EPS.

Hedge Funds Weigh In On Canadian Imperial Bank of Commerce

Several hedge funds and other institutional investors have recently modified their holdings of the company. Norges Bank acquired a new stake in Canadian Imperial Bank of Commerce in the second quarter valued at approximately $730,245,000. Goldman Sachs Group Inc. grew its holdings in Canadian Imperial Bank of Commerce by 405.5% during the 1st quarter. Goldman Sachs Group Inc. now owns 5,187,068 shares of the bank's stock valued at $292,032,000 after purchasing an additional 4,160,938 shares in the last quarter. The Manufacturers Life Insurance Company increased its stake in Canadian Imperial Bank of Commerce by 130.2% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 7,354,644 shares of the bank's stock worth $519,312,000 after buying an additional 4,160,060 shares during the period. JPMorgan Chase & Co. increased its stake in Canadian Imperial Bank of Commerce by 31.6% during the 1st quarter. JPMorgan Chase & Co. now owns 10,581,914 shares of the bank's stock worth $595,762,000 after buying an additional 2,538,808 shares during the period. Finally, Public Sector Pension Investment Board lifted its holdings in Canadian Imperial Bank of Commerce by 51.8% in the 2nd quarter. Public Sector Pension Investment Board now owns 7,106,008 shares of the bank's stock worth $503,383,000 after buying an additional 2,425,000 shares in the last quarter. 49.88% of the stock is owned by institutional investors and hedge funds.

Canadian Imperial Bank of Commerce Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 28th. Shareholders of record on Monday, September 29th will be given a dividend of $0.97 per share. This represents a $3.88 dividend on an annualized basis and a yield of 5.0%. This is a boost from Canadian Imperial Bank of Commerce's previous quarterly dividend of $0.70. The ex-dividend date of this dividend is Monday, September 29th. Canadian Imperial Bank of Commerce's dividend payout ratio (DPR) is presently 49.56%.

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.

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