CM - Canadian Imperial Bank of Commerce
| Previous Close | 82.39 |
| Open | 82.30 |
| Bid | 82.55 x 800 |
| Ask | 82.57 x 800 |
| Day's Range | 82.15 - 82.67 |
| 52 Week Range | 73.20 - 87.62 |
| Volume | 274,002 |
| Avg. Volume | 398,681 |
| Market Cap | 36.874B |
| Beta (5Y Monthly) | 1.10 |
| PE Ratio (TTM) | 9.43 |
| EPS (TTM) | 8.76 |
| Earnings Date | N/A |
| Forward Dividend & Yield | 4.37 (5.30%) |
| Ex-Dividend Date | Dec 25, 2019 |
| 1y Target Est | 98.31 |
- Reuters
PRESS DIGEST- Canada- Feb 21
- Reuters
CIBC plans to shuffle executives, cut 2,000 jobs - Globe and Mail
Canadian Imperial Bank of Commerce is expected to make changes to its senior executive ranks and announce about 2,000 job cuts when it reports first-quarter earnings next week, the Globe and Mail reported https://tgam.ca/2uguwyL on Friday. CIBC plans to move Christina Kramer, the head of personal and small-business banking, to a new role as head of technology and operations, while current chief risk officer Laura Dottori-Attanasio will take Kramer's place at the helm of the retail banking division, the newspaper reported, citing sources familiar with the matter. Victor Dodig, chief executive officer of Canada's fifth-largest bank, told staff late last month that CIBC needs to challenge itself to be "a more efficient bank by focusing on continuous improvement and keeping a careful eye on costs".
- Zacks
Canadian Imperial Bank (CM) Expected to Beat Earnings Estimates: What to Know Ahead of Q1 Release
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.
CNW GroupCIBC and RE/MAX INTEGRA join forces to help Canadians achieve home ownership goals
CIBC and RE/MAX INTEGRA join forces to help Canadians achieve home ownership goals
- Bloomberg
Oil Climbs Near Two-Week High on Easing Coronavirus Concerns
(Bloomberg) -- Oil rose for a third session, the longest winning streak since early January, after the World Heath Organization rekindled optimism that the coronavirus outbreak could be abating.Futures gained 0.5% in New York on Thursday to the highest level in nearly two weeks. The WHO said the spike in coronavirus diagnoses doesn’t necessarily reflect a sudden surge in new infections. Hubei province, the outbreak’s epicenter, revised its method for counting infections. A top WHO official said many of the added cases date back days and weeks.“The market is getting more comfortable that we’ve hit the bottom,” said Rebecca Babin, a senior equity trader at CIBC Private Wealth Management. “Oil markets have discounted the worst case and could show more resilience as long as cases outside of China are not spiking.”Oil prices recovered this week on the back of optimism that the spread of the deadly coronavirus outbreak could easing. The International Energy Agency on Thursday said oil demand will drop this quarter for the first time in over a decade, citing the viral outbreak’s impact on economic activity and travel in China.West Texas Intermediate crude for March delivery rose 25 cents to settle at $51.42 a barrel on the New York Mercantile Exchange.Brent for April settlement climbed 55 cents to end the session at $56.34 a barrel on the ICE Futures Europe exchange, putting its premium over WTI for the same month at $4.68.The market’s structure also continued to signal strength. Brent’s front-month contract traded at a 4-cent discount to its second-month contract, the smallest discount since the contracts traded in backwardation at the end of January.Meanwhile, Saudi Arabia and Kuwait authorized the restart of oil production at the Wafra field from Sunday, more than four years after they halted output at the shared deposit.Kuwait and Saudi Arabia have said a resumption would be unlikely to add significant amounts of oil to the market within the duration of the Organization of Petroleum Exporting Countries’ production cuts deal, which runs until the end of March.(A previous version was corrected to say demand will drop in fourth paragraph.)To contact the reporter on this story: Jackie Davalos in New York at jdavalos10@bloomberg.netTo contact the editors responsible for this story: David Marino at dmarino4@bloomberg.net, Jessica Summers, Joe CarrollFor more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
- Moody's
J.P. Morgan Chase Commercial Mortgage Securities Trust 2020-LOOP -- Moody's assigns definitive ratings to six CMBS classes of JPMCC 2020-LOOP
Moody's approach to rating this transaction involved the application of both our Large Loan and Single Asset/Single Borrower CMBS methodology and our IO Rating methodology. The structure's credit enhancement is quantified by the maximum deterioration in property value that the securities are able to withstand under various stress scenarios without causing an increase in the expected loss for various rating levels.
- Bloomberg
Oil Off to Slowest Start Since 1991 With Virus Fear Spreading
(Bloomberg) -- Oil is off to the worst start to a year since 1991, tumbling 16% in January on concern that the spread of coronavirus will curb demand for transportation fuels.Futures fell 1.1% in New York on Friday, capping the worst month since May as investors were rattled by the fear of demand destruction after the World Health Organization declared the outbreak a global health emergency. The U.S. Centers for Disease Control and Prevention called the virus an unprecedented public health threat.“People are looking at the continued rise in cases and how that’s impacting jet fuel and has made those demand fears worse,” Leo Mariani, energy analyst at KeyBanc Capital Markets Inc. “It’s going to take the virus not being a persistent event and for global demand to show signs of improvement in order to stabilize.”China, the world’s second largest economy and key driver of oil demand, resorted to unprecedented measures to slow the outbreak, including extending the Lunar New Year holiday and a lock-down in the country’s major cities and provinces. At least two-thirds of China’s economy will stay shut next week, as residents are being told not to return to work or school, or to avoid congregating in public places.The plunge in oil prices has prompted a push led by Saudi Arabia for the Organization of Petroleum Exporting Countries and its allies to hold an emergency session in February, with Russia signaling for the first time on Friday it was open to holding the meeting earlier.The coalition is considering a proposal to deepen current production curbs by about 500,000 barrels a day, though there’s no consensus on the idea yet, according to consultant Energy Aspects Ltd. As the oil producer group and its partners, a 23-nation coalition known as OPEC+, have already made steep cutbacks recently, analysts have been skeptical on how much more they’re willing to do.“This virus is requiring more out of the group as the demand picture gets weaker,” said Rebecca Babin, a senior equity trader at CIBC Private Wealth Management.West Texas Intermediate crude for March delivery fell 58 cents to settle at $51.56 a barrel on the New York Mercantile Exchange, after sliding as much as 2.2% during the session.Brent for March delivery, which expired Friday, lost 13 cents to $58.16 a barrel on the London-based ICE Futures Europe exchange, and sank 12% in January. The more active April contract slid 71 cents to $56.62 a barrel. April Brent was $4.94 a barrel above WTI for the same month.In addition to the drop in outright prices, the market’s structure showed further signs of the market malaise. April Brent’s premium over May contracts falling by about more than one-third to just 20 cents a barrel. The December 2020-December 2021 spread, a closely watched indicator of the market’s strength, shrank 70 cents a barrel, the lowest since the end of October. On Jan. 6, it closed at $4.05.\--With assistance from James Thornhill, Saket Sundria, Ann Koh and Grant Smith.To contact the reporter on this story: Jackie Davalos in New York at jdavalos10@bloomberg.netTo contact the editors responsible for this story: James Herron at jherron9@bloomberg.net, David Marino, Carlos CaminadaFor more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
CNW GroupCanada's first mobile banking app turns 10
On Feb. 2 , it will be 10 years since CIBC became the first major Canadian financial institution to offer a mobile banking app to clients. "CIBC is proud to celebrate the tenth anniversary of the first mobile banking app in Canada , marking the first time Canadians could bank on the go anywhere using their smart phone," said Aayaz Pira, Senior Vice-President, Digital & Direct Banking, CIBC.
- Reuters
Canadian lender CIBC flags layoffs as it battles challenging environment
Victor Dodig, chief executive of Canada's fifth-largest bank, told staff on Thursday that CIBC needs to challenge itself to be "a more efficient bank by focusing on continuous improvement and keeping a careful eye on costs," according to a memo seen by Reuters. A CIBC spokesman declined to comment. CIBC has improved its efficiency ratio, which measures non-interest expenses as a percentage of revenue, to 55.5% in 2019 from 60.4% in 2015.
CNW GroupCIBC Asset Management Inc. announces portfolio sub-advisor changes and management fee reductions on certain global equity funds
CIBC Asset Management Inc. announces portfolio sub-advisor changes and management fee reductions on certain global equity funds
CNW GroupCIBC Asset Management Inc. reduces management fees on four Renaissance Investments funds
CIBC Asset Management Inc. reduces management fees on four Renaissance Investments funds
CNW GroupCIBC recognized by Carbon Disclosure Project for Actions on Climate Change
CIBC recognized by Carbon Disclosure Project for Actions on Climate Change
CNW GroupTop North American companies to present at CIBC's 23rd Annual Western Institutional Investor Conference
Top North American companies to present at CIBC's 23rd Annual Western Institutional Investor Conference
CNW GroupCIBC Asset Management introduces new flexible yield ETF for access to global fixed income markets
CIBC Asset Management introduces new flexible yield ETF for access to global fixed income markets
- CNW Group
CIBC Asset Management announces CIBC ETF cash distributions for January 2020
CIBC Asset Management announces CIBC ETF cash distributions for January 2020
- Bloomberg
Oil’s Drop to 8-Week Low Tempered by WHO Decision, Stock Draw
(Bloomberg) -- Oil slid to an eight-week low on concern that China’s coronavirus outbreak may dent demand. But the drop was tempered by an unexpected decline in U.S. crude inventories and as the World Health Organization opted against declaring the virus a global health emergency.Futures sank 2% in New York on Thursday, paring an earlier 3.5% drop. The Energy Information Administration reported a 405,000-barrel decrease in crude stockpiles last week, in contrast to expectations for a build by analysts and the industry-funded American Petroleum Institute. A committee of experts convened by the United Nations health agency opted to continue monitoring the outbreak, which has killed more than a dozen people and sickened hundreds.“The crude market is partly responding to that decision, somewhat of a muted move compared to the S&P,” said Rebecca Babin, senior energy trader at CIBC Private Wealth Management. “Regardless of what WHO says, the fact we may see demand be hurt is what the markets are really focused on.”The EIA also showed a 1.75-million-barrel gain in gasoline stocks, the smallest since September. Distillate stocks fell 1.19 million barrels, after gaining over 20 million barrels over the previous three weeks.“The EIA data was constructive and favorable,” particularly since a crude stock draw was reported when the market was expecting an increase, said Brian Kessens, portfolio manager at Tortoise, a Kansas firm that oversees more than $21 billion in assets.China, the world’s biggest oil importer, effectively quarantined a major city to contain the SARS-like virus, banning travel from Wuhan, a city of 11 million. The alert has overshadowed concern over the halt of exports from Libya, and suspension of Nigerian Bonny crude shipments.Oil is bearing the brunt of the anxiety due to the potential hit to travel, especially ahead of the Lunar New Year holidays, the biggest human migration in the world. Goldman Sachs Group Inc. predicts the virus may crimp global demand by 260,000 barrels a day this year -- with jet fuel accounting for around two-thirds of the loss -- if the SARS epidemic in 2003 is any guide.West Texas Intermediate futures for March delivery slid $1.15 to settle at $55.59 a barrel on the New York Mercantile Exchange, the lowest close since Nov 29.Brent futures for March settlement declined $1.17 to $62.04 a barrel. The global benchmark traded at a $6.45 premium to WTI for the same month.“Once there is evidence that the outbreak is contained and thus the economic disruption is coming to an end, sentiment on oil should improve, bringing prices back up,” said Pavel Molchanov, energy research analyst at Raymond James & Associates Inc.Libya’s eastern strongman kept virtually all of the nation’s oil fields shut, in a show of defiance after world leaders failed to persuade him to sign a peace deal ending the OPEC country’s civil war. Libya’s oil output plunged to the lowest level since August 2011, according to data compiled by Bloomberg.\--With assistance from James Thornhill, Dan Murtaugh, Saket Sundria, Grant Smith and Sheela Tobben.To contact the reporter on this story: Jackie Davalos in New York at jdavalos10@bloomberg.netTo contact the editors responsible for this story: David Marino at dmarino4@bloomberg.net, Joe RichterFor more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
- Business Wire
CIBC Innovation Banking Provides Water Data Management Software Provider, Aquatic Informatics, With $8 Million Growth Capital Financing to Support Expansion
CIBC Innovation Banking is pleased to announce an $8 million debt financing with Aquatic Informatics Inc., a leader in water data management and analytics. The capital will be used by the company to support growth, including strategic acquisitions.
- Simply Wall St.
The Canadian Imperial Bank of Commerce (TSE:CM) Share Price Is Up 18% And Shareholders Are Holding On
Passive investing in index funds can generate returns that roughly match the overall market. But in our experience...
CNW GroupHuman vs machine: CIBC poll finds most Canadians value personal advice over a search engine
TORONTO , Jan. 21, 2020 /CNW/ - Despite technology making it easier than ever to access information, a recent CIBC poll shows that when it comes to major life events, such as getting married, buying a home, or finding a job, many respondents (63 per cent) prefer to ask their friends and family for advice. This is most prevalent amongst younger Canadians, with 78 per cent of those aged 18-34 leaning on people close to them when making important decisions. When it comes to financial advice, 46 per cent of Canadians prefer to ask an advisor through their financial institution and 36 per cent turn to family and friends.
CNW GroupCIBC Announces Results of Conversion Privileges of NVCC Preferred Shares Series 41
CIBC Announces Results of Conversion Privileges of NVCC Preferred Shares Series 41
- Moody's
CIBC Capital Markets (Europe) S.A. -- Moody's rates Aa2/Prime -1 CIBC Capital Markets (Europe) S.A.
Moody's Investors Service, ("Moody's") has assigned Aa2 long-term and Prime-1 short-term deposit ratings and Aa2 and Prime-1 counterparty risk ratings (CRRs) to CIBC Capital Markets (Europe) S.A. The outlook on the deposit ratings is stable. In the same rating action, Moody's also assigned Aa2 (cr) long-term and Prime-1 (cr) short-term counterparty risk (CR) assessments to the entity.
- Business Wire
Otodata Wireless Network Inc. Secures $7.5 million in Growth Financing From CIBC Innovation Banking
CIBC Innovation Banking is pleased to announce it has closed a $7.5 million growth capital financing with Montreal-based Otodata Wireless Network Inc. ("Otodata"). This capital will be used to support the company’s product diversification and growth across North America.
- Reuters
CIBC's push to speed up Canadian mortgage growth set to face hurdles
Canadian Imperial Bank of Commerce's (CIBC) efforts to speed up mortgage growth following a pullback two years ago is expected to face hurdles as bigger rivals maintain their hold on the market, and record-high debt levels weigh on borrowers, analysts and investors said. The most domestically focused of Canada's Big Five banks has said it aims for mortgage growth at the industry rate, between 4% and 5% according to analyst estimates, from a slight decline in 2019. While CIBC has not put a timeframe on the plan, Chief Executive Officer Victor Dodig said at a conference last week that mortgage growth would look "more market-like" over 2020.
- Business Wire
CIBC Innovation Banking Provides Online Emergency Network ePACT with $2.5 Million Growth Financing
CIBC Innovation Banking is pleased to announce a $2.5 million growth capital financing for Vancouver-based ePACT Network Ltd. The debt capital complements a recent Series A equity raise co-led by Disruption Ventures and Yaletown Partners.
