Q2 2023 EPS Estimates for Canadian Imperial Bank of Commerce Reduced by Analyst (TSE:CM)

Canadian Imperial Bank of Commerce (TSE:CM – Get Rating) (NYSE:CM) – Investment analysts at National Bank Financial dropped their Q2 2023 EPS estimates for Canadian Imperial Bank of Commerce in a report released on Wednesday, May 17th. National Bank Financial analyst G. Dechaine now expects that the company will earn $1.59 per share for the quarter, down from their prior estimate of $1.64. The consensus estimate for Canadian Imperial Bank of Commerce’s current full-year earnings is $6.95 per share. National Bank Financial also issued estimates for Canadian Imperial Bank of Commerce’s Q4 2023 earnings at $1.63 EPS, FY2023 earnings at $6.89 EPS and FY2024 earnings at $6.86 EPS.

CM has been the topic of several other research reports. BMO Capital Markets reduced their target price on shares of Canadian Imperial Bank of Commerce from C$70.00 to C$69.00 in a research note on Monday, February 27th. Scotiabank boosted their target price on Canadian Imperial Bank of Commerce from C$65.00 to C$66.00 in a research report on Monday, February 27th. Royal Bank of Canada increased their price target on Canadian Imperial Bank of Commerce from C$70.00 to C$89.00 in a report on Monday, March 27th. Canaccord Genuity Group boosted their price objective on Canadian Imperial Bank of Commerce from C$66.00 to C$66.50 in a report on Monday, February 27th. Finally, CIBC boosted their target price on shares of Canadian Imperial Bank of Commerce from C$66.00 to C$66.50 in a research note on Monday, February 27th. Seven equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, Canadian Imperial Bank of Commerce has a consensus rating of “Hold” and a consensus price target of C$66.37.

Canadian Imperial Bank of Commerce Stock Performance

TSE:CM opened at C$56.14 on Monday. The firm has a market capitalization of C$51.18 billion, a PE ratio of 11.18, a PEG ratio of 27.22 and a beta of 1.04. The stock’s fifty day moving average is C$56.77 and its 200 day moving average is C$58.83. Canadian Imperial Bank of Commerce has a fifty-two week low of C$53.58 and a fifty-two week high of C$71.10.

Canadian Imperial Bank of Commerce (TSE:CM – Get Rating) (NYSE:CM) last released its quarterly earnings results on Friday, February 24th. The company reported C$1.94 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of C$1.66 by C$0.28. The company had revenue of C$5.93 billion for the quarter. Canadian Imperial Bank of Commerce had a net margin of 22.77% and a return on equity of 9.89%.

Insider Activity

In related news, Director Victor George Dodig purchased 34,850 shares of Canadian Imperial Bank of Commerce stock in a transaction dated Thursday, March 16th. The stock was purchased at an average cost of C$57.65 per share, with a total value of C$2,009,102.50. Insiders own 0.06% of the company’s stock.

Canadian Imperial Bank of Commerce Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, April 28th. Stockholders of record on Tuesday, March 28th were paid a dividend of $0.85 per share. The ex-dividend date of this dividend was Monday, March 27th. This represents a $3.40 dividend on an annualized basis and a dividend yield of 6.06%. Canadian Imperial Bank of Commerce’s dividend payout ratio is presently 67.73%.

Canadian Imperial Bank of Commerce Company Profile

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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.