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].

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Investment Thesis: I revise my rating on Canadian Imperial Bank of Commerce (NYSE:CM) from Hold to Buy. In a previous article back in May 2023, I made the argument that the Canadian Imperial Bank of Commerce could see pressure on growth given a decline in trading revenues leading to lower net income overall. However, we see that the stock is up by just over 15% since my last article: TradingView.com Performance CIBC Q2 2024 Financial Highlights CIBC Q2 2024 Financial Highlights Calculations made by author u ...

Canadian Imperial Bank of Commerce (NYSE:CM) Q2 2024 Earnings Conference Call May 30, 2024 7:30 AM ET Company Participants Geoff Weiss - Senior Vice President, Investor Relations Victor Dodig - President & Chief Executive Officer Robert Sedran - Senior Executive Vice-President and Chief Financial Officer Hratch Panossian - Senior Executive Vice-President and Head of Personal and Business Banking, Canada Frank Guse - Chief Risk Officer Jon Hountalas - Senior Executive Vice President & Group Head, Canadian Ba ...

Second Quarter, 2024 52 Slide 34 – Funding & Liquidity Slide 38 – Credit Portfolio Breakdown Second Quarter, 2024 53 Slide 43 – Commercial Real Estate 1. Includes $4.8B in Multi Family that is reported in residential mortgages in the Supplementary Financial Information package. 2. Includes US$1.7B in loans that are reported in other industries in the Supplementary Financial Information package but are included here because of the nature of the security. 3. Incorporates security pledged; equivalent to S&P/Mo ...

Key Takeaways CIBC's capital markets division also grew its income by 13% from last year thanks to higher revenue from its investment banking and global markets businesses. CIBC's total assets crossed the C$1 trillion mark in the quarter, with deposits rising to C$732 billion from last year's C$723.4 billion. Dividend Announcements, Changes CIBC also declared its quarterly dividend of C$0.90 Thursday, with payments set to be paid out July 29 to shareholders of record on June 28. Shares of the Canadian Imper ...

Canadian Imperial Bank (CM) came out with quarterly earnings of $1.29 per share, beating the Zacks Consensus Estimate of $1.22 per share. This compares to earnings of $1.25 per share a year ago. These figures are adjusted for non-recurring items. This quarterly report represents an earnings surprise of 5.74%. A quarter ago, it was expected that this bank and financial services company would post earnings of $1.24 per share when it actually produced earnings of $1.34, delivering a surprise of 8.06%. Over the ...

We adjust our reported revenue and non-interest expenses to remove the impact of items of note. Commencing the first quarter of 2024, we no longer gross up tax-exempt revenue to bring it to a TEB for the application of this ratio to our consolidated results. Prior period amounts have been restated to conform with the change in presentation adopted in the first quarter of 2024. Adjusted dividend payout ratio We adjust our reported net income attributable to common shareholders to remove the impact of items o ...