CM.TO - Canadian Imperial Bank of Commerce

Toronto - Toronto Delayed Price. Currency in CAD
102.73
+0.05 (+0.05%)
As of 1:37PM EDT. Market open.
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Previous Close102.68
Open102.71
Bid102.75 x 0
Ask102.77 x 0
Day's Range102.18 - 102.95
52 Week Range99.51 - 125.21
Volume364,485
Avg. Volume1,707,032
Market Cap45.689B
Beta (3Y Monthly)1.15
PE Ratio (TTM)9.04
EPS (TTM)11.36
Earnings DateAug 21, 2019 - Aug 26, 2019
Forward Dividend & Yield5.60 (5.45%)
Ex-Dividend Date2019-06-27
1y Target Est114.87
  • CIBC Announces Results of Conversion Privileges of NVCC Preferred Shares Series 39
    CNW Group4 days ago

    CIBC Announces Results of Conversion Privileges of NVCC Preferred Shares Series 39

    CIBC Announces Results of Conversion Privileges of NVCC Preferred Shares Series 39

  • Four CIBC leaders named among Canada's Top 50 Women in FinTech
    CNW Group6 days ago

    Four CIBC leaders named among Canada's Top 50 Women in FinTech

    Four CIBC leaders named among Canada's Top 50 Women in FinTech

  • Business Wire7 days ago

    CIBC Innovation Banking Opens New Office in Austin, Texas; Expands Menlo Park and Denver Teams

    CIBC Innovation Banking is pleased to announce the opening of a new office in Austin, Texas, as the group continues its strategic expansion in key technology markets in North America. “Austin is home to a bustling startup and technology community and as we look to grow in strategic markets in Canada and the U.S., this region has long been known for nurturing innovative companies and attracting both leading venture and growth equity investors,” said Mark McQueen, President & Executive Managing Director, CIBC Innovation Banking. Joining the new Austin office as Managing Director is Sara Johnson, a seasoned market leader in M&A debt financings.

  • Fed Easing Bets Firm After Jerome Powell Flags Downside Economic Risks
    Bloomberg12 days ago

    Fed Easing Bets Firm After Jerome Powell Flags Downside Economic Risks

    (Bloomberg) -- Traders boosted the amount of easing they expect from the Federal Reserve this month and beyond as Chairman Jerome Powell emphasized persistent risks to the economy.The market firmed in its conviction that a quarter-point cut is coming at the end of this month. Traders also dialed up bets on an even bigger July shift as Powell responded to questions from U.S. lawmakers in Washington, including one directly on the possibility of such a move. The market is now pricing in almost three quarters of a point of easing by the end of 2019 and short-dated Treasury rates have fallen sharply, taking the two-year yield as low as 1.82%. The dollar also weakened, while U.S. stocks are firmer on the day.Powell’s testimony appears to have reassured traders that the rebound in payrolls reported last week won’t deter policy makers from a July move. The Fed chairman himself said Wednesday that the strength of hiring in June had not changed the central bank’s thinking.“Powell fully endorsed the July rate cut and did absolutely nothing to pull the markets back from that expectation,” Peter Boockvar, chief investment officer at Bleakley Financial Group, said in a note.While Powell appears to have removed doubts about whether a rate cut is on the way, market debate over the size of this month’s move is heating up. Columbia Threadneedle senior strategist Ed Al-Hussainy said after Powell’s initial statement that traders might be getting ahead of themselves pricing in more than a quarter-point move this month, as there’s no evidence so far of broad support for more-aggressive action among the members of the Federal Open Market Committee.“The case for a 50 basis points cut in July is very strong, but there isn’t a strong base for it on the FOMC,” he said. “Even on the more dovish side of the spectrum, the voices have been lukewarm.”Morgan Stanley and UBS are among those market watchers still looking for a half-point cut, while Barclays pared its July call back to 25 basis points.Pressed during his Congressional testimony on what would justify a larger move, Powell stuck to general references about a “broad range of data” informing the Fed’s decision, along with the “extent to which trade and global growth are weighing on the outlook,” and the path of inflation.Ben Emons at Medley Global Advisors said Powell’s emphasis on the risks to global growth are a tilt in the direction of more action, and noted the market has raised the odds of a half-point cut.“Powell’s statement reopens the door to the possibility of a 50 basis point cut. The market definitely had that wrong by being too single-data-point minded,” the strategist wrote in a note.The implied rate on fed funds futures for August -- which indicates where the market reckons the central bank’s key rate will be after its July 31 decision -- has fallen to 2.09%. That suggests around 32 basis points of easing from the most recent effective fed funds rate of 2.41%, or more than the usual quarter-point sized move that the central bank tends to make.The implied rate for August had been around 2.16% just before the release of Powell’s remarks. Meanwhile, the yield on the January contract -- an indicator for year-end rates -- slid to 1.70% from 1.80% before the testimony, and the U.S. dollar slipped as much as 0.4% against the yen.Treasury YieldsAs rate cut wagers strengthened, the decline in yields across the Treasuries market also pulled the 10-year benchmark down roughly five basis points from where it was just before Powell’s testimony, to around 2.05%. The sharper drop in two-year rates drove the yield curve steeper to around 22 basis points, reversing its recent flattening trend.The U.S. dollar’s decline, meanwhile, was consistent with Powell’s testimony, according to Bipan Rai, North American head of foreign-exchange strategy at Canadian Imperial Bank of Commerce. But he also said the market’s reluctance to price in a half-point Fed cut for July should keep the currency supported.(Adds comments, updates prices.)\--With assistance from Benjamin Purvis, Alyce Andres and David Wilson.To contact the reporters on this story: Emily Barrett in New York at ebarrett25@bloomberg.net;Liz Capo McCormick in New York at emccormick7@bloomberg.netTo contact the editors responsible for this story: Benjamin Purvis at bpurvis@bloomberg.net, Mark TannenbaumFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.

  • Canadian Bank to acquire Milwaukee-based investment bank Cleary Gull
    American City Business Journals13 days ago

    Canadian Bank to acquire Milwaukee-based investment bank Cleary Gull

    Just a few days ago the Canadian Imperial Bank of Commerce (CIBC) and the Milwaukee-based investment bank Cleary Gull agreed that CIBC would acquire the local company, extending the Canadian bank's reach into the United States.

  • CIBC to acquire US investment banking firm Cleary Gull
    CNW Group13 days ago

    CIBC to acquire US investment banking firm Cleary Gull

    CIBC to acquire US investment banking firm Cleary Gull

  • Introducing Canadian Imperial Bank of Commerce (TSE:CM), The Stock That Dropped 10% In The Last Year
    Simply Wall St.13 days ago

    Introducing Canadian Imperial Bank of Commerce (TSE:CM), The Stock That Dropped 10% In The Last Year

    Passive investing in an index fund is a good way to ensure your own returns roughly match the overall market. When you...

  • Strong U.S. Hiring Rebound Dilutes Case for Larger Fed Cut
    Bloomberg17 days ago

    Strong U.S. Hiring Rebound Dilutes Case for Larger Fed Cut

    (Bloomberg) -- The American jobs engine revived in June as hiring topped all economists’ estimates, relieving pressure on the Federal Reserve to slash interest rates this month while leaving it room to make a small reduction if it wants.Nonfarm payrolls climbed a solid 224,000 last month, the most since January, after a disappointing 72,000 May advance, a Labor Department report showed Friday. At the same time, the jobless rate ticked up to 3.7% from a half-century low of 3.6% and average hourly earnings increased a less-than-projected 3.1% from a year earlier.Against a backdrop of subdued inflationary pressures, the wage and unemployment-rate data keep open the possibility of a quarter-point cut in the Fed’s benchmark interest rate, either at the end of this month or later. Traders trimmed bets on rate reductions after the report though still see a 25-basis-point cut in July, and President Donald Trump’s top economic adviser kept pressure on the central bank to act.“We’ve always seen a more notable deceleration in employment ahead of a cut,” said Avery Shenfeld, chief economist at Canadian Imperial Bank of Commerce, who projected a 205,000 gain in June payrolls. “I’m not as convinced as the market that the Fed has to move in July. Rate cuts are likely coming but the Fed has to be very careful to not be seen as pushed by the market and the White House.”Trump tweeted “JOBS, JOBS, JOBS!” after the report and has repeatedly boasted that the world’s largest economy is in the best shape ever. Despite that, he’s made repeated calls for Fed Chairman Jerome Powell to cut interest rates as the record expansion shows other signs of slowing -- just as the 2020 campaign begins.What Our Economists SayWhile the Fed dropped “patient” from its policy guidance at its June meeting, the strength in the pace of hiring will enable the FOMC to delay the onset of a mini-easing cycle until September; but the central bank will still need to cut in order to steepen the yield curve.-- Carl Riccadonna and Yelena Shulyatyeva, economistsClick here for the full note.Larry Kudlow, director of the White House National Economic Council, said on Bloomberg Television Friday that the Fed should “take back the interest-rate hike.” The central bank raised rates four times last year, though it was the fourth increase, in December, that’s proved the most controversial.Though companies still face the uncertainty of trade tensions and inflation remains below the Fed’s goal, the broad hiring gains in June provide a solid backdrop for consumer spending -- the biggest part of the economy. Job growth in manufacturing was the strongest in five months, despite concerns about tariffs, while employment was solid in business services, health care, construction and transportation.“It’s a really, really strong report across the board,” Torsten Slok, Deutsche Bank chief economist, said on Bloomberg TV. “If the Fed is thinking about making insurance cuts, you think about what they are insuring themselves against?”At the same time, wage growth appears to be flattening out, albeit at a still-strong level. Average hourly earnings rose 0.2% from the prior month, missing estimates, following an upwardly revised 0.3% gain, while annual wage gains held at 3.1%.The participation rate, or share of working-age people in the labor force, increased to 62.9% following 62.8% as steady wage gains pulled more Americans from the sidelines and into the workforce. The average workweek was unchanged at 34.4 hours.“A 25-basis-point cut is still on the table,” but the report removes the chance of a 50-basis-point reduction, said Ryan Sweet, head of monetary-policy research at Moody’s Analytics Inc. “It makes the debate for a cut more lively. This job number eases their concerns that the labor market was slowing more abruptly than they anticipated, but the trend is that it’s still moderating.”(Adds Trump tweet.)\--With assistance from Chris Middleton, Sophie Caronello, Ryan Haar and Katia Dmitrieva.To contact the reporters on this story: Reade Pickert in Washington at epickert@bloomberg.net;Jeff Kearns in Washington at jkearns3@bloomberg.netTo contact the editors responsible for this story: Scott Lanman at slanman@bloomberg.net, Vince GolleFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.

  • CIBC ranks #1 in customer satisfaction with mobile credit card apps in Canada from J.D. Power
    CNW Group18 days ago

    CIBC ranks #1 in customer satisfaction with mobile credit card apps in Canada from J.D. Power

    CIBC ranks #1 in customer satisfaction with mobile credit card apps in Canada from J.D. Power

  • CIBC has Best Mobile Banking Experience for Canadians according to Surviscor
    CNW Group18 days ago

    CIBC has Best Mobile Banking Experience for Canadians according to Surviscor

    CIBC has Best Mobile Banking Experience for Canadians according to Surviscor

  • CIBC Announces Dividend Rates for NVCC Preferred Shares Series 39 and NVCC Preferred Shares Series 40
    CNW Group24 days ago

    CIBC Announces Dividend Rates for NVCC Preferred Shares Series 39 and NVCC Preferred Shares Series 40

    CIBC Announces Dividend Rates for NVCC Preferred Shares Series 39 and NVCC Preferred Shares Series 40

  • BlackBerry Falls Most in Year as Earnings Report Disappoints
    Bloomberg26 days ago

    BlackBerry Falls Most in Year as Earnings Report Disappoints

    (Bloomberg) -- BlackBerry Ltd. shares fell the most in a year after reporting sales from its software and services unit slowed and a recent acquisition contributed less of a boost than some analysts expected.Revenue in the fiscal first quarter was $247 million, the Waterloo, Ontario-based company said Wednesday, up 16% from a year earlier. BlackBerry reorganized its reporting units, combining the business technology solutions group with the enterprise software and services unit. Now grouped under the Internet-of-Things division, it reported revenue of $136 million, which was down from $147 million in the fourth quarter.Steven Li, an analyst at Raymond James, said any shortfall would have likely come from enterprise software, since the business technology solutions revenue stream is “typically stable and growing.” Part of the weakness also could have come from a reorganization of the sales division, according to Todd Coupland, an analyst at CIBC.After BlackBerry’s $1.4 billion acquisition of cybersecurity firm Cylance, which closed in February, some analysts were expecting to see stronger revenue contributions in the first full quarter in which the purchase is on the books. Revenue from Cylance was $32 million in the three months ended May 31. “People were hoping Cylance would beat expectations more than it did,” Coupland said in an interview. There are also concerns about Crowdstrike Holdings Inc., a competitor in cybersecurity, which is growing at a higher rate than Cylance, he said.Key InsightsAdjusted earnings per share of 1 cent beat analysts’ average estimate of breakeven in the quarter, as BlackBerry absorbed the Cylance acquisition.Shares fell as much as 10% to $7.47. It was the biggest decline for BlackBerry since last June. The stock had gained 17 percent through the close on Tuesday.Under Chief Executive Officer John Chen, the company has been positioning itself as a leader in cybersecurity. Cylance will enable BlackBerry to add artificial intelligence capabilities to its existing software products. The purchase was BlackBerry’s largest acquisition in seven years.BlackBerry is now focused on its connected and autonomous vehicle technology business, QNX, to drive growth. “The next thing that we have is to put the Cylance AI on to QNX,” Chen said on an earnings call.Know MoreEarlier this week, the Waterloo, Ontario-based company said its security and connectivity software was now installed in 150 million vehicles, up 25% from a year earlier. BlackBerry’s QNX technology is used by carmakers such as Honda Motor Co., Ford Motor Co., and BMW AG in driver assistance and hands-free systems, among other things.BlackBerry reaffirmed it expects annual adjusted revenue growth of 23%-27% in fiscal 2020.Read the statement here.(Updates with share trading this year. A previous version of this story corrected the day that company reported in second paragraph.)To contact the reporter on this story: Simran Jagdev in Toronto at sjagdev1@bloomberg.netTo contact the editors responsible for this story: Molly Schuetz at mschuetz9@bloomberg.net;David Scanlan at dscanlan@bloomberg.netFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.

  • Bloomberg26 days ago

    Hudson Yards Developer Plans One of Canada’s Biggest Projects

    (Bloomberg) -- Oxford Properties Group is planning a C$3.5 billion ($2.7 billion) development in downtown Toronto that would be one of Canada’s biggest real estate projects.The property arm of pension fund OMERS aims to build a 4.3 million-square-foot, mixed-use complex on a 4-acre site that’s just north of Toronto’s Rogers Centre and CN Tower. The development, called Union Park, is the largest ever for Oxford outside of Manhattan’s Hudson Yards, the $25 billion project it’s co-developing with Related Cos.Plans call for two office towers, of 58 and 48 stories, about 800 rental apartments across two buildings and 200,000 square feet for retail. Three acres will be devoted to public space, including an urban park over the Union Station rail corridor, which spans Blue Jays Way to the John Street Bridge.“It’s the culmination of our experience in a number of different cities, and we’ve looked at what we’ve done, whether in Europe or in the U.S. with Hudson Yards,” Eric Plesman, Oxford’s executive vice president of North America, said in an interview. “This is a site that’s exceptionally significant, and it’s rare that you can find this size of site with proximity to the core.”The project is a big bet on increasing demand for offices from the city’s booming technology and financial-services industries, and the shift to downtown from the suburbs. The Union Park site lies between the space-crunched financial core, and The Well, a mixed-use development that will be home to Shopify Inc. and hundreds of new residents.Toronto is in the midst of a construction boom. In addition to Oxford’s project and The Well, which will have three million square-feet of retail, office and residential space, Ivanhoe Cambridge Inc. and Hines are developing CIBC SQUARE. That will comprise two commercial towers spanning 3 million square feet that will house offices for Canadian Imperial Bank of Commerce as well as Microsoft Inc. Cadillac Fairview Corp. and Investment Management Corp. of Ontario are also developing 1.2 million-plus square feet of office and retail space.In a bid to attract global tech giants or other major tenants, Oxford has plans for 100,000-square-foot spaces that would be split between the office towers and connected by a common atrium, said Mark Cote, head of development. One company would be able to occupy the whole space.“We want to create a commercial campus opportunity for large office users,” Cote said.About 18,000 people will work at Union Park, and the development itself could create 22,000 construction jobs, Oxford said. The firm’s application will include an expansion of the PATH network, an underground connection to Toronto’s financial core.Larger RentalsAs for the housing portion, Oxford will focus on larger rentals units ranging from one- to three-bedrooms, given the short supply downtown for families.“It’s an under-serviced part of the market,” Cote said. “300-square-foot units, I mean, it’s hard to raise a family in those apartments.”Oxford aims to start construction in 2023, pending the needed municipal approvals, said Carlo Timpano, vice president of development.Oxford is renewing its portfolio, selling assets such as an office tower in downtown Montreal and a stake in iconic hotels in Western Canada while developing 14 projects in the country.“We intend on continuing to build within Canada: we’ve seen our capital grow almost 35% over the last five years by C$7.5 billion in Canada and a lot of that growth has been in our development pipeline,” Plesman said.(Updates with additional construction projects in sixth paragraph.)To contact the reporter on this story: Natalie Wong in Toronto at nwong133@bloomberg.netTo contact the editors responsible for this story: Debarati Roy at droy5@bloomberg.net, Christine Maurus, Jacqueline ThorpeFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.

  • Is Canadian Imperial Bank of Commerce (CM) A Good Stock To Buy?
    Insider Monkey29 days ago

    Is Canadian Imperial Bank of Commerce (CM) A Good Stock To Buy?

    After several tireless days we have finished crunching the numbers from nearly 750 13F filings issued by the elite hedge funds and other investment firms that we track at Insider Monkey, which disclosed those firms' equity portfolios as of March 31. The results of that effort will be put on display in this article, as […]

  • CIBC Asset Management announces CIBC ETF cash distributions for June 2019
    CNW Grouplast month

    CIBC Asset Management announces CIBC ETF cash distributions for June 2019

    CIBC Asset Management announces CIBC ETF cash distributions for June 2019

  • Bloomberglast month

    Shopify Is Now More Valuable Than Two of Canada’s Oldest Companies

    (Bloomberg) -- Canada’s Shopify Inc., an e-commerce company that went public four years ago, is now more valuable than Manulife Financial Corp. and Canadian Imperial Bank of Commerce -- two financial institutions that have been around for more than a century.Shopify eclipsed the financial heavyweights in market value on Wednesday after announcing plans to spend $1 billion setting up a network of fulfillment centers in the U.S. and upgrades to its tools merchants use to sell products.Shopify traded at C$438.24 a share at 1 p.m. in Toronto on Thursday, giving it a market value of C$48.8 billion ($36.9 billion) and making the 12th biggest publicly traded company in Canada. Manulife was at C$46.7 billion and CIBC at C$46.4 billion.The Ottawa-based company has surged 132% this year, the top-performer on the S&P/TSX and a bigger advance than any stock on the S&P 500.To contact the reporter on this story: Simran Jagdev in Toronto at sjagdev1@bloomberg.netTo contact the editors responsible for this story: Jacqueline Thorpe at jthorpe23@bloomberg.net, ;Jillian Ward at jward56@bloomberg.net, David ScanlanFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.

  • PR Newswirelast month

    CIBC announces changes to the CIBC Atlas Clean Energy Index

    DENVER, CO , June 19, 2019 /PRNewswire/ - CIBC (NYSE: CM) (TSX: CM) today announced that the index rebalance following close of business on June 21, 2019 will result in changes to the CIBC Atlas Clean ...

  • Thomson Reuters StreetEventslast month

    Edited Transcript of CM.TO earnings conference call or presentation 22-May-19 12:00pm GMT

    Q2 2019 Canadian Imperial Bank of Commerce Earnings Call

  • CIBC to Issue NVCC Subordinated Debentures
    CNW Grouplast month

    CIBC to Issue NVCC Subordinated Debentures

    CIBC to Issue NVCC Subordinated Debentures

  • CIBC Announces Conversion Privileges of NVCC Preferred Shares Series 39
    CNW Grouplast month

    CIBC Announces Conversion Privileges of NVCC Preferred Shares Series 39

    TORONTO , June 12, 2019 /CNW/ - CIBC (CM) (CM) today announced that it does not intend to exercise its right to redeem all or any part of its currently outstanding 16,000,000 Non-cumulative Rate Reset Class A Preferred Shares Series 39 (Non-Viability Contingent Capital (NVCC)) (the "Series 39 Shares") on July 31, 2019 . Subject to certain conditions set out in the prospectus supplement dated June 2, 2014 relating to the issuance of the Series 39 Shares, the holders of Series 39 Shares have the right to convert all or any of their Series 39 Shares, on a one-for-one basis, into Non-cumulative Floating Rate Class A Preferred Shares Series 40 (Non-Viability Contingent Capital (NVCC)) of CIBC (the "Series 40 Shares") on July 31, 2019 .

  • Markitlast month

    See what the IHS Markit Score report has to say about Canadian Imperial Bank of Commerce.

    Canadian Imperial Bank of Commerce NYSE:CMView full report here! Summary * Bearish sentiment is low * Economic output for the sector is expanding but at a slower rate Bearish sentimentShort interest | PositiveShort interest is extremely low for CM with fewer than 1% of shares on loan. This could indicate that investors who seek to profit from falling equity prices are not currently targeting CM. Money flowETF/Index ownership | NeutralETF activity is neutral. ETFs that hold CM had net inflows of $1.42 billion over the last one-month. While these are not among the highest inflows of the last year, the rate of inflow is increasing. Economic sentimentPMI by IHS Markit | NegativeAccording to the latest IHS Markit Purchasing Managers' Index (PMI) data, output in the Financials sector is rising. The rate of growth is weak relative to the trend shown over the past year, however, and is easing. Credit worthinessCredit default swapCDS data is not available for this security.Please send all inquiries related to the report to score@ihsmarkit.com.Charts and report PDFs will only be available for 30 days after publishing.This document has been produced for information purposes only and is not to be relied upon or as construed as investment advice. To the fullest extent permitted by law, IHS Markit disclaims any responsibility or liability, whether in contract, tort (including, without limitation, negligence), equity or otherwise, for any loss or damage arising from any reliance on or the use of this material in any way. Please view the full legal disclaimer and methodology information on pages 2-3 of the full report.

  • Why Canadian Imperial Bank of Commerce (TSE:CM) Could Be Worth Watching
    Simply Wall St.last month

    Why Canadian Imperial Bank of Commerce (TSE:CM) Could Be Worth Watching

    Canadian Imperial Bank of Commerce (TSE:CM) saw significant share price movement during recent months on the TSX...

  • PR Newswire2 months ago

    Eni VP Andrew Lees to Keynote EnerCom's The Oil & Gas Conference® Aug. 14, 2019

    DENVER, June 5, 2019 /PRNewswire/ -- EnerCom is pleased to announce that global oil and gas giant Eni, SpA Vice President Andrew Lees will deliver the keynote luncheon address at EnerCom's The Oil & Gas Conference® on Aug. 14, 2019. Eni, SpA (NYSE:E) is an Italian global oil and gas and energy company operating in 67 countries worldwide, with 30,000 employees in upstream, midstream and downstream operations.