Canadian Imperial Bank of Commerce (TSE:CM) Releases Earnings Results

Canadian Imperial Bank of Commerce (TSE:CM) (NYSE:CM) released its quarterly earnings data on Thursday. The company reported C$2.54 earnings per share for the quarter, FiscalAI reports. Canadian Imperial Bank of Commerce had a return on equity of 14.76% and a net margin of 17.63%.The business had revenue of C$8.01 billion during the quarter.

Canadian Imperial Bank of Commerce Trading Down 0.2%

CM stock opened at C$159.54 on Thursday. Canadian Imperial Bank of Commerce has a 12-month low of C$91.94 and a 12-month high of C$162.12. The stock has a market cap of C$146.83 billion, a price-to-earnings ratio of 16.64, a PEG ratio of 3.03 and a beta of 1.30. The business’s 50-day moving average is C$145.08 and its 200 day moving average is C$133.82.

Canadian Imperial Bank of Commerce Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, April 28th. Investors of record on Tuesday, April 28th were issued a $1.07 dividend. This represents a $4.28 annualized dividend and a yield of 2.7%. The ex-dividend date was Friday, March 27th. Canadian Imperial Bank of Commerce’s payout ratio is presently 41.50%.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the company. National Bank Financial lifted their price target on Canadian Imperial Bank of Commerce from C$150.00 to C$152.00 and gave the company a “sector perform” rating in a research note on Friday, May 15th. Royal Bank Of Canada cut their price target on Canadian Imperial Bank of Commerce from C$158.00 to C$147.00 and set an “outperform” rating for the company in a research note on Wednesday, March 25th. Scotiabank lifted their price target on Canadian Imperial Bank of Commerce from C$153.00 to C$159.00 and gave the company a “sector outperform” rating in a research note on Monday, May 4th. Canaccord Genuity Group lifted their price target on Canadian Imperial Bank of Commerce from C$145.00 to C$153.00 and gave the company a “hold” rating in a research note on Wednesday, May 20th. Finally, Jefferies Financial Group lifted their price target on Canadian Imperial Bank of Commerce from C$136.00 to C$143.00 in a research note on Wednesday, May 20th. Seven research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat, Canadian Imperial Bank of Commerce currently has an average rating of “Moderate Buy” and an average target price of C$152.86.

Canadian Imperial Bank of Commerce Company Profile

CIBC is a leading North American financial institution with 15 million personal banking, business, public sector and institutional clients. Across Personal and Business Banking, Commercial Banking and Wealth Management, and Capital Markets, CIBC offers a full range of advice, solutions and services through its leading digital banking network, and locations across Canada, in the United States and around the world.