CM - Canadian Imperial Bank of Commerce

NYSE - NYSE Delayed Price. Currency in USD
75.24
-1.20 (-1.57%)
At close: 4:02PM EDT

75.24 0.00 (0.00%)
After hours: 5:07PM EDT

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Previous Close76.44
Open76.36
Bid75.19 x 800
Ask77.50 x 800
Day's Range75.03 - 76.36
52 Week Range72.96 - 96.98
Volume415,064
Avg. Volume408,342
Market Cap33.467B
Beta (3Y Monthly)1.18
PE Ratio (TTM)8.59
EPS (TTM)N/A
Earnings DateN/A
Forward Dividend & Yield4.32 (5.66%)
Ex-Dividend Date2019-09-26
1y Target EstN/A
Trade prices are not sourced from all markets
  • Canadian Imperial (CM) Up as Q3 Earnings & Revenues Rise
    Zacks

    Canadian Imperial (CM) Up as Q3 Earnings & Revenues Rise

    Higher interest income, fee revenues and a strong balance sheet position support Canadian Imperial's (CM) fiscal Q3 earnings.

  • Canadian Imperial Bank of Commerce (CM) Q3 2019 Earnings Call Transcript
    Motley Fool

    Canadian Imperial Bank of Commerce (CM) Q3 2019 Earnings Call Transcript

    CM earnings call for the period ending July 31, 2019.

  • CIBC’s U.S. Unit Drives Profit Beat That Sends Shares Surging
    Bloomberg

    CIBC’s U.S. Unit Drives Profit Beat That Sends Shares Surging

    (Bloomberg) -- Canadian Imperial Bank of Commerce’s shares surged after third-quarter results showed its U.S. operations and higher revenue lifted profit above analysts’ estimates.The company’s commercial-banking and wealth-management division in the U.S., which includes the PrivateBank operations CIBC acquired two years ago, was the quarter’s best-performer, with a profit jump of 6.2%. Earnings from Canadian personal and small-business banking, the largest division, climbed less than half as much.“The company’s U.S. segment continues to drive above-average growth,” Scott Chan, an analyst at Canaccord Genuity, said in a note to clients.Shares of the company surged the most in more than 20 months after the report, which showed overall profit rising 2.1%. Chief Executive Officer Victor Dodig told investors in May that earnings this year would be “relatively flat” partly due to higher spending. The positive results out of the U.S. helped counter a 13% decline in CIBC’s capital-markets business and a 1% drop in Canadian commercial banking and wealth management.“Our commercial banks continue to perform exceptionally well,” Chief Financial Officer Kevin Glass said in a phone interview. “Their loan and deposit growth is very strong and they continue to be very well managed.”Profit at Canada’s fifth-largest lender was C$1.4 billion ($1.1 billion) for the period ended July 31, with adjusted earnings of C$3.10 a share, the Toronto-based lender said Thursday in a statement, beating analysts’ estimates by four cents. CIBC raised its quarterly dividend 2.9% to C$1.44 a share.Shares of the bank rose as much as 3.3% to C$102.74 in trading in Toronto.Loan ProvisionsStill, CIBC saw continued weakness in its domestic mortgages and rising loan-loss provisions even as larger rival Royal Bank of Canada posted improvements in those areas for the three-month period.CIBC once had enviable mortgage growth, trouncing other banks with 12% year-over-year gains through 2017 -- until the pendulum started to swing the other way at the end of last year. The domestic mortgage book contracted for the third straight quarter with C$201 billion in balances, down 1% from a year earlier.Investors and analysts have been watching for signs of deteriorating loans since short sellers earlier this year said that CIBC and other banks are ill-prepared for worsening credit conditions. CIBC set aside C$291 million for soured loans in the quarter, up from C$255 million in the previous three months and 21% more than a year earlier -- and higher than analysts expected.“We’re comfortable with our portfolios and think that they’re performing extremely well,” Glass said. “There’s nothing from a systemic basis that gives us pause.”James Shanahan, an analyst with Edward Jones & Co., said he sees “broader concerns” about credit quality. “Elevated credit costs and increased impairments in the business-loan portfolio are more concerning and offset what is a modest beat,” Shanahan said in an interview.Other key takeaways:CIBC defied analysts’ pessimistic expectations quarter after quarter for almost four years, until missing estimates in the fourth quarter of 2018 -- and subsequent periods since. CIBC broke that streak in the quarter ended July 31.Net interest income was C$2.69 billion, up 4.5% and rebounding from a slowdown earlier in the year.The bank also announced that CFO Glass will step down Oct. 31 to be replaced by Hratch Panossian, currently executive vice president, global controller and investor relations.To contact the reporter on this story: Doug Alexander in Toronto at dalexander3@bloomberg.netTo contact the editors responsible for this story: Michael J. Moore at mmoore55@bloomberg.net, ;David Scanlan at dscanlan@bloomberg.net, Steve DicksonFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.

  • Canadian Imperial Bank (CM) Beats Q3 Earnings and Revenue Estimates
    Zacks

    Canadian Imperial Bank (CM) Beats Q3 Earnings and Revenue Estimates

    Canadian Imperial Bank (CM) delivered earnings and revenue surprises of 1.31% and 1.00%, respectively, for the quarter ended July 2019. Do the numbers hold clues to what lies ahead for the stock?

  • Benzinga

    A Preview Of Canadian Imperial Bank's Q3 Earnings

    Don't be caught off-guard: Canadian Imperial Bank (NYSE: CM ) releases its next round of earnings this Thursday, August 22. Want to skip the homework and get all the facts in one place? We thought so. ...

  • Canadian Banks Due to Report Q3 Earnings: RY, CM, BNS & More
    Zacks

    Canadian Banks Due to Report Q3 Earnings: RY, CM, BNS & More

    Canadian banks are expected to report decent earnings growth, driven by slight rise in interest income. However, dismal non-interest income performance and higher expenses may act as dampeners.

  • Canadian Imperial Bank (CM) Expected to Beat Earnings Estimates: Should You Buy?
    Zacks

    Canadian Imperial Bank (CM) Expected to Beat Earnings Estimates: Should You Buy?

    Canadian Imperial Bank (CM) possesses the right combination of the two key ingredients for a likely earnings beat in its upcoming report. Get prepared with the key expectations.

  • CIT Group Inks Deal to Acquire Mutual of Omaha Bank for $1B
    Zacks

    CIT Group Inks Deal to Acquire Mutual of Omaha Bank for $1B

    The acquisition of Mutual of Omaha Bank will help CIT Group (CIT) expand its commercial banking operations.

  • Moody's

    RBC (Barbados) Trading Bank Corporation -- Moody's affirms large Canadian banks' ratings; maintains stable outlook

    Rating Action: Moody's affirms large Canadian banks' ratings; maintains stable outlook. Global Credit Research- 01 Aug 2019. Toronto, August 01, 2019-- Moody's Investors Service has affirmed the short-term ...

  • Moody's

    Reliant Trust -- Moody's Canadian ABCP activity for the week ended July 12, 2019

    Moody's has reviewed the following ABCP programs in conjunction with the proposed amendments. At this time the amendments, in and of themselves, will not result in any rating impact on the respective programs' ABCP. Moody's does not believe they will have an adverse effect on the credit quality of the securities such that the Moody's rating is impacted.

  • Piper Jaffray Inks Deal to Acquire Sandler O'Neill for $485M
    Zacks

    Piper Jaffray Inks Deal to Acquire Sandler O'Neill for $485M

    Piper Jaffray's (PJC) acquisition of Sandler O'Neill will be earnings accretive and expand its M&A business.

  • Canadian Imperial (CM) Expands in U.S., To Buy Cleary Gull
    Zacks

    Canadian Imperial (CM) Expands in U.S., To Buy Cleary Gull

    Canadian Imperial's (CM) inorganic growth strategy will support its financials over the long run.

  • Moody's

    SAFE Trust -- Moody's Canadian ABCP activity for week ended June 7, 2019

    Moody's has reviewed the following ABCP program in conjunction with the proposed amendment. At this time the amendment, in and of itself, will not result in any rating impact on the respective program's ABCP. Moody's does not believe it will have an adverse effect on the credit quality of the securities such that the Moody's rating is impacted.

  • Moody's

    Cards II Trust, Series 2019-1 -- Moody's assigns definitive ratings to CARDS II Trust 2019-1 Notes

    Moody's Investors Service ("Moody's") has assigned a definitive Aaa (sf) rating to the Class A Notes of the Series 2019-1 to be issued by CARDS II Trust (the trust), sponsored by Canadian Imperial Bank of Commerce (CIBC, long-term deposits/long-term senior unsecured Aa2 stable, long-term CR assessment Aa2 (cr), short-term deposit P-1, and BCA a3). Moody's also announced today that the issuance of the Series 2019-1 Notes would not, in and of itself and as of this time, result in the downgrade or withdrawal of the ratings assigned to any class of outstanding securities issued by the trust. The rating is based on the quality of the underlying credit card receivables, the expertise of CIBC as servicer, the transaction's legal and structural protections, including early amortization trigger events, the credit enhancement provided by the subordinate Class B Notes and Class C Notes in the 2019-1 series, and the likelihood of the sponsor becoming insolvent and shutting down its credit card portfolio.

  • New Strong Sell Stocks for June 5th
    Zacks

    New Strong Sell Stocks for June 5th

    Here are 5 stocks added to the Zacks Rank 5 (Strong Sell) List today.

  • Moody's

    Zeus Receivables Trust -- Moody's Canadian ABCP activity for the week ended May 31, 2019

    Moody's has reviewed the following ABCP programs in conjunction with the proposed additions and amendment. At this time the additions and amendment, in and of themselves, will not result in any rating impact on the respective program's ABCP. Moody's does not believe they will have an adverse effect on the credit quality of the securities such that the Moody's rating is impacted.

  • Bank of Montreal (BMO) Down 3.3% Despite Higher Q2 Earnings
    Zacks

    Bank of Montreal (BMO) Down 3.3% Despite Higher Q2 Earnings

    Bank of Montreal's (BMO) Q2 earnings benefit from improved revenues and strong loan growth, while rise in costs acts as major headwind.

  • Moody's

    Cards II Trust, Series 2019-1 -- Moody's assigns provisional rating to CARDS II Trust 2019-1 Notes

    Moody's Investors Service (Moody's) has assigned a provisional (P)Aaa (sf) rating to the Class A Notes of the Series 2019-1 to be issued by CARDS II Trust (the trust), sponsored by Canadian Imperial Bank of Commerce (CIBC, long-term deposits/long-term senior unsecured Aa2 stable, long-term CR assessment Aa2 (cr), short-term deposit P-1, and BCA a3). The rating is based on the quality of the underlying credit card receivables, the expertise of CIBC as servicer, the transaction's legal and structural protections, including early amortization trigger events, the credit enhancement provided by the subordinate Class B Notes and Class C Notes in the 2019-1 series, and the likelihood of the sponsor becoming insolvent and shutting down its credit card portfolio.

  • Scotia Bank's (BNS) Q2 Earnings Impress on Higher Revenues
    Zacks

    Scotia Bank's (BNS) Q2 Earnings Impress on Higher Revenues

    The Bank of Nova Scotia's (BNS) second-quarter fiscal 2019 (ended Apr 30) earnings reflect higher revenues, its solid capital levels and elevated expenses.

  • Toronto-Dominion (TD) Stock Up 1.9% on Q2 Earnings Growth
    Zacks

    Toronto-Dominion (TD) Stock Up 1.9% on Q2 Earnings Growth

    Improvement in revenues and strong balance sheet support Toronto-Dominion's (TD) fiscal Q2 earnings.

  • Reuters

    Loan growth drives profit beat at Royal Bank of Canada, TD Bank

    Two of Canada's largest lenders beat analysts' estimates for quarterly profits on Thursday, as strong loan growth boosted their retail banking businesses and interest income. But shares of both Royal Bank ...

  • Canadian Imperial (CM) Q2 Earnings Rise, Stock Down 4.5%
    Zacks

    Canadian Imperial (CM) Q2 Earnings Rise, Stock Down 4.5%

    Canadian Imperial Bank of Commerce's (CM) second-quarter fiscal 2019 results indicate improved non-interest income, partly offset by rise in provisions, expenses and lower net interest income.

  • Canadian Imperial Bank of Commerce (CM) Q2 2019 Earnings Call Transcript
    Motley Fool

    Canadian Imperial Bank of Commerce (CM) Q2 2019 Earnings Call Transcript

    CM earnings call for the period ending April 30, 2019.

  • Canadian Imperial Bank (CM) Beats Q2 Earnings and Revenue Estimates
    Zacks

    Canadian Imperial Bank (CM) Beats Q2 Earnings and Revenue Estimates

    Canadian Imperial Bank (CM) delivered earnings and revenue surprises of 0.45% and 1.57%, respectively, for the quarter ended April 2019. Do the numbers hold clues to what lies ahead for the stock?