Core Viewpoint - The Canadian Imperial Bank (CM) is identified as a strong growth stock with favorable growth prospects, supported by a solid Growth Score and Zacks Rank, making it a potential outperformer for growth investors [2][8]. Group 1: Earnings Growth - The historical EPS growth rate for Canadian Imperial Bank is 5.9%, but the projected EPS growth for this year is 7.5%, surpassing the industry average of 5.9% [4]. - Double-digit earnings growth is preferred by growth investors, indicating strong prospects and potential stock price gains [3]. Group 2: Asset Utilization Ratio - The asset utilization ratio (sales-to-total-assets ratio) for Canadian Imperial Bank is 0.06, indicating that the company generates $0.06 in sales for every dollar in assets, which is higher than the industry average of 0.05 [6]. - The company is also expected to achieve a sales growth of 9.1% this year, compared to the industry average of 0% [6]. Group 3: Earnings Estimate Revisions - The current-year earnings estimates for Canadian Imperial Bank have been revised upward, with the Zacks Consensus Estimate increasing by 6% over the past month [7]. - A positive trend in earnings estimate revisions is correlated with near-term stock price movements, making this a favorable indicator for investors [7]. Group 4: Overall Assessment - Canadian Imperial Bank holds a Zacks Rank of 2 (Buy) and a Growth Score of B, indicating it is a solid choice for growth investors [8].

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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Core Insights - Canadian Imperial Bank of Commerce (CM) shares rose 5.5% after reporting strong third-quarter fiscal 2024 results, with adjusted earnings per share increasing by 27% year-over-year to C$1.93 [1][2] - The bank's total revenues improved by 13% year-over-year to C$6.6 billion, driven by higher net interest income and non-interest income, although non-interest expenses rose by 11% [3][4] Financial Performance - Adjusted net income reached C$1.8 billion ($1.31 billion), reflecting a 25% increase compared to the previous year [2] - Net interest income was C$3.53 billion ($2.58 billion), up 9% year-over-year, while non-interest income increased by 17% to C$3.07 billion ($2.24 billion) [3] - Non-interest expenses totaled C$3.68 billion ($2.69 billion), marking an 11% rise year-over-year [3] Efficiency and Credit Provisions - The adjusted efficiency ratio improved to 55.5%, down from 56.8% in the prior-year quarter, indicating enhanced profitability [4] - Provisions for credit losses decreased by 35% year-over-year to C$483 million ($352.7 million) [4] Asset and Capital Ratios - As of July 31, 2024, total assets were C$1.02 trillion ($738.7 billion), a 2% increase from the prior quarter [5] - Net loans and acceptances rose by 1% to C$550.15 billion ($397.9 billion), while deposits grew by 2% to C$743.45 billion ($537.7 billion) [5] - The Common Equity Tier 1 ratio improved to 13.3% from 12.2% year-over-year, with the Tier 1 capital ratio at 14.8% compared to 13.7% in the prior-year period [6] Industry Context - The overall banking environment is characterized by high interest rates and decent loan demand, which are expected to support revenue growth for Canadian Imperial [7] - Other Canadian banks, such as Toronto-Dominion Bank (TD) and Bank of Montreal (BMO), faced challenges, with TD reporting a net loss due to increased provisions and BMO experiencing a decline in adjusted earnings per share [8][10]

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 ...