Group 1: Stock Performance - Canadian Imperial Bank's shares have increased by 18% over the past month, reaching a new 52-week high of $59.85 [1] - The stock has gained 24.1% since the beginning of the year, outperforming the Zacks Finance sector's 15.3% and the Zacks Banks - Foreign industry's 12.6% [1] Group 2: Earnings Performance - The bank has consistently exceeded earnings expectations, reporting EPS of $1.41 against a consensus estimate of $1.28 in its last earnings report [2] - For the current fiscal year, Canadian Imperial Bank is projected to achieve earnings of $5.36 per share on revenues of $18.87 billion, reflecting a 7.63% increase in EPS and a 9.14% increase in revenues [3] Group 3: Valuation Metrics - The stock trades at 11.2 times current fiscal year EPS estimates, above the peer industry average of 8.2 times [7] - The trailing cash flow basis shows the stock trading at 9.9 times compared to the peer group's average of 7.9 times, with a PEG ratio of 1.8 [7] Group 4: Zacks Rank and Style Scores - Canadian Imperial Bank holds a Zacks Rank of 2 (Buy) due to rising earnings estimates [8] - The stock has a Value Score of C, a Growth Score of B, and a Momentum Score of A, resulting in a combined VGM Score of B [6] Group 5: Industry Comparison - The Banks - Foreign industry is performing well, ranking in the top 13% of all industries, indicating favorable conditions for both Canadian Imperial Bank and its peer, Standard Chartered PLC [12] - Standard Chartered PLC has also shown strong performance, with a Zacks Rank of 2 (Buy) and earnings expected to be $1.68 per share on revenues of $19 billion for the current fiscal year [10][11]

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Shares of Canadian Imperial Bank of Commerce (CM) gained 5.5% following the release of its third-quarter fiscal 2024 (ended July 30) results. Adjusted earnings per share of C$1.93 increased 27% from the prior-year quarter. Results benefited from an improvement in revenues and lower provisions. Also, loans and deposit balances increased in the quarter. However, higher expenses were an undermining factor. After considering non-recurring items, net income was C$1.8 billion ($1.31 billion), reflecting a 25% yea ...

jetcityimage/iStock Editorial via Getty Images Data by YCharts Canadian Imperial Bank of Commerce (NYSE:CM) ("CIBC") has had a solid enough 2024 so far. Stalling net interest income and rising expenses - both operating and credit-linked - have been sources of concern here, but the bank has largely taken these in stride, helped by robust fee income generation. Its stock has also been among the better performing 'Big Six' Canadian banks this year, returning around 18% (with dividends) at the time of writing. ...

About this content About Emily Jarvie Emily began her career as a political journalist for Australian Community Media in Hobart, Tasmania. After she relocated to Toronto, Canada, she reported on business, legal, and scientific developments in the emerging psychedelics sector before joining Proactive in 2022. She brings a strong journalism background with her work featured in newspapers, magazines, and digital publications across Australia, Europe, and North America, including The Examiner, The Advocate, The ...

Canadian Imperial Bank of Commerce (NYSE:CM) Q3 2024 Earnings Conference Call August 29, 2024 8:00 AM ET Company Participants Geoff Weiss - Senior Vice President, Investor Relations Victor Dodig - President and Chief Executive Officer Robert Sedran - Senior Executive Vice-President and Chief Financial Officer Frank Guse - Chief Risk Officer Hratch Panossian - Senior Executive Vice-President and Head of Personal and Business Banking, Canada Jon Hountalas - Senior Executive Vice President & Group Head, Canadi ...

Canadian Imperial Bank (CM) came out with quarterly earnings of $1.41 per share, beating the Zacks Consensus Estimate of $1.28 per share. This compares to earnings of $1.14 per share a year ago. These figures are adjusted for non-recurring items. This quarterly report represents an earnings surprise of 10.16%. A quarter ago, it was expected that this bank and financial services company would post earnings of $1.22 per share when it actually produced earnings of $1.29, delivering a surprise of 5.74%. Over th ...

Report to Shareholders for the Third Quarter, 2024 www.cibc.com August 29, 2024 Report of the President and Chief Executive Officer Overview of results CIBC today announced its financial results for the third quarter ended July 31, 2024. Third quarter highlights Results for the third quarter of 2024 were affected by the following items of note aggregating to a negative impact of $0.11 per share: • $88 million charge to income tax related to the enactment of a Federal tax measure that denies the dividends re ...

Wall Street expects a year-over-year increase in earnings on higher revenues when Canadian Imperial Bank (CM) reports results for the quarter ended July 2024. While this widely-known consensus outlook is important in gauging the company's earnings picture, a powerful factor that could impact its near-term stock price is how the actual results compare to these estimates. The stock might move higher if these key numbers top expectations in the upcoming earnings report, which is expected to be released on Augu ...

Core Viewpoint - The recent upgrade of Canadian Imperial Bank to a Zacks Rank 2 (Buy) reflects an upward trend in earnings estimates, indicating a positive earnings outlook that could lead to increased stock price [2][10]. Earnings Estimates and Stock Price Movement - Changes in a company's future earnings potential, as indicated by earnings estimate revisions, are strongly correlated with near-term stock price movements [3][11]. - Institutional investors utilize earnings estimates to calculate the fair value of a company's shares, leading to significant buying or selling activity that impacts stock prices [3]. Zacks Rank System - The Zacks Rank stock-rating system classifies stocks into five groups based on earnings estimates, with Zacks Rank 1 (Strong Buy) stocks historically generating an average annual return of +25% since 1988 [4]. - The Zacks rating system maintains an equal proportion of 'buy' and 'sell' ratings across its universe of over 4000 stocks, ensuring that only the top 20% of stocks receive favorable ratings based on earnings estimate revisions [13]. Earnings Estimate Revisions for Canadian Imperial Bank - Over the past three months, the Zacks Consensus Estimate for Canadian Imperial Bank has increased by 0.2%, indicating a positive trend in earnings estimates [12]. - For the fiscal year ending October 2024, Canadian Imperial Bank is expected to earn $5.05 per share, reflecting a 1.4% change from the previous year's reported number [5]. Implications of the Upgrade - The upgrade to Zacks Rank 2 positions Canadian Imperial Bank in the top 20% of Zacks-covered stocks, suggesting potential for near-term stock price appreciation [14]. - The rising earnings estimates and subsequent rating upgrade imply an improvement in the company's underlying business, which could attract investor interest and drive the stock price higher [10].