Q4 2022 Earnings Estimate for Canadian Imperial Bank of Commerce Issued By Cormark (NYSE:CM)

Canadian Imperial Bank of Commerce (NYSE:CMGet Rating) (TSE:CM) – Stock analysts at Cormark dropped their Q4 2022 earnings estimates for Canadian Imperial Bank of Commerce in a research note issued on Tuesday, November 22nd. Cormark analyst L. Persaud now expects that the bank will post earnings per share of $1.36 for the quarter, down from their prior forecast of $1.40. The consensus estimate for Canadian Imperial Bank of Commerce’s current full-year earnings is $5.58 per share. Cormark also issued estimates for Canadian Imperial Bank of Commerce’s FY2023 earnings at $5.93 EPS.

Canadian Imperial Bank of Commerce (NYSE:CMGet Rating) (TSE:CM) last issued its quarterly earnings data on Thursday, August 25th. The bank reported $1.45 EPS for the quarter, topping analysts’ consensus estimates of $1.40 by $0.05. Canadian Imperial Bank of Commerce had a net margin of 24.18% and a return on equity of 15.82%. The business had revenue of $4.37 billion for the quarter, compared to analyst estimates of $4.27 billion.

CM has been the topic of several other reports. StockNews.com began coverage on shares of Canadian Imperial Bank of Commerce in a research note on Wednesday, October 12th. They set a “hold” rating on the stock. Desjardins lowered their price objective on shares of Canadian Imperial Bank of Commerce from C$74.00 to C$73.00 and set a “hold” rating on the stock in a research note on Monday, August 29th. TD Securities lowered shares of Canadian Imperial Bank of Commerce from a “buy” rating to a “hold” rating and lowered their price objective for the stock from C$74.00 to C$65.00 in a research note on Tuesday, November 15th. National Bank Financial reduced their target price on shares of Canadian Imperial Bank of Commerce from C$84.00 to C$83.00 in a report on Tuesday, August 16th. Finally, CIBC lifted their target price on shares of Canadian Imperial Bank of Commerce from C$77.00 to C$79.00 and gave the stock an “outperform” rating in a report on Friday, August 26th. Seven analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat, Canadian Imperial Bank of Commerce presently has an average rating of “Hold” and an average target price of $81.58.

Canadian Imperial Bank of Commerce Stock Up 0.9 %

Canadian Imperial Bank of Commerce stock opened at $48.48 on Thursday. The firm has a market capitalization of $43.92 billion, a PE ratio of 8.85, a P/E/G ratio of 2.91 and a beta of 0.97. The company’s 50-day moving average is $45.24 and its 200-day moving average is $49.15. Canadian Imperial Bank of Commerce has a fifty-two week low of $39.72 and a fifty-two week high of $66.24. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.03 and a quick ratio of 1.03.

Institutional Trading of Canadian Imperial Bank of Commerce

Institutional investors have recently bought and sold shares of the business. Pacifica Partners Inc. boosted its holdings in Canadian Imperial Bank of Commerce by 100.0% in the 2nd quarter. Pacifica Partners Inc. now owns 510 shares of the bank’s stock valued at $25,000 after purchasing an additional 255 shares during the period. Steward Partners Investment Advisory LLC boosted its holdings in Canadian Imperial Bank of Commerce by 162.9% in the 2nd quarter. Steward Partners Investment Advisory LLC now owns 510 shares of the bank’s stock valued at $25,000 after purchasing an additional 316 shares during the period. Twin Tree Management LP boosted its holdings in Canadian Imperial Bank of Commerce by 106.1% in the 3rd quarter. Twin Tree Management LP now owns 600 shares of the bank’s stock valued at $26,000 after purchasing an additional 10,400 shares during the period. Tower View Investment Management & Research LLC boosted its holdings in Canadian Imperial Bank of Commerce by 100.0% in the 2nd quarter. Tower View Investment Management & Research LLC now owns 600 shares of the bank’s stock valued at $29,000 after purchasing an additional 300 shares during the period. Finally, Spire Wealth Management boosted its holdings in Canadian Imperial Bank of Commerce by 100.0% in the 2nd quarter. Spire Wealth Management now owns 650 shares of the bank’s stock valued at $32,000 after purchasing an additional 325 shares during the period. Institutional investors own 44.32% of the company’s stock.

Canadian Imperial Bank of Commerce Company Profile

(Get Rating)

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 four strategic business units: Canadian Personal and Business Banking; Canadian Commercial Banking and Wealth Management; U.S.

Featured Articles

Earnings History and Estimates for Canadian Imperial Bank of Commerce (NYSE:CM)

Receive News & Ratings for Canadian Imperial Bank of Commerce Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Canadian Imperial Bank of Commerce and related companies with MarketBeat.com's FREE daily email newsletter.