Canadian Imperial Bank of Commerce (TSE:CM – Free Report) (NYSE:CM) – Equities research analysts at Cormark increased their FY2024 EPS estimates for shares of Canadian Imperial Bank of Commerce in a report issued on Monday, November 25th. Cormark analyst L. Persaud now forecasts that the company will post earnings of $7.29 per share for the year, up from their prior forecast of $7.26. Cormark has a “Buy” rating and a $83.00 price objective on the stock. The consensus estimate for Canadian Imperial Bank of Commerce’s current full-year earnings is $6.41 per share. Cormark also issued estimates for Canadian Imperial Bank of Commerce’s FY2026 earnings at $8.22 EPS.
Several other brokerages have also issued reports on CM. Royal Bank of Canada upped their target price on Canadian Imperial Bank of Commerce from C$69.00 to C$74.00 and gave the stock a “sector perform” rating in a research note on Friday, August 30th. Canaccord Genuity Group upped their price objective on shares of Canadian Imperial Bank of Commerce from C$81.00 to C$92.00 in a research note on Tuesday, November 19th. Bank of America upgraded shares of Canadian Imperial Bank of Commerce from a “neutral” rating to a “buy” rating and lifted their target price for the stock from C$74.00 to C$90.00 in a research report on Friday, August 30th. Desjardins upped their price target on shares of Canadian Imperial Bank of Commerce from C$77.00 to C$83.00 and gave the company a “buy” rating in a research report on Friday, August 30th. Finally, National Bankshares lifted their price objective on Canadian Imperial Bank of Commerce from C$86.00 to C$94.00 in a report on Wednesday, November 20th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and eight have assigned a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of C$87.17.
Canadian Imperial Bank of Commerce Trading Down 0.1 %
CM opened at C$91.42 on Tuesday. The stock has a market capitalization of C$86.39 billion, a P/E ratio of 13.23, a PEG ratio of 3.03 and a beta of 1.12. The stock has a 50-day moving average price of C$85.87 and a 200-day moving average price of C$74.84. Canadian Imperial Bank of Commerce has a 12-month low of C$51.60 and a 12-month high of C$92.17.
Canadian Imperial Bank of Commerce (TSE:CM – Get Free Report) (NYSE:CM) last announced its earnings results on Thursday, August 29th. The company reported C$1.93 earnings per share (EPS) for the quarter, topping the consensus estimate of C$1.75 by C$0.18. Canadian Imperial Bank of Commerce had a net margin of 29.56% and a return on equity of 12.37%. The company had revenue of C$6.60 billion during the quarter, compared to analyst estimates of C$6.31 billion.
Canadian Imperial Bank of Commerce Announces Dividend
The firm also recently announced a quarterly dividend, which was paid on Monday, October 28th. Investors of record on Friday, September 27th were issued a dividend of $0.90 per share. The ex-dividend date of this dividend was Friday, September 27th. This represents a $3.60 dividend on an annualized basis and a dividend yield of 3.94%. Canadian Imperial Bank of Commerce’s dividend payout ratio is presently 52.10%.
Insider Activity at Canadian Imperial Bank of Commerce
In other Canadian Imperial Bank of Commerce news, Director Harry Kenneth Culham sold 800 shares of Canadian Imperial Bank of Commerce stock in a transaction that occurred on Monday, September 30th. The stock was sold at an average price of C$83.20, for a total transaction of C$66,560.00. Also, Senior Officer Hratch Dikran Panossian sold 5,530 shares of the stock in a transaction that occurred on Thursday, September 5th. The stock was sold at an average price of C$79.89, for a total value of C$441,791.70. Insiders sold a total of 203,057 shares of company stock worth $16,823,249 over the last quarter. 0.02% of the stock is owned by corporate insiders.
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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