Canadian Imperial Bank of Commerce, a diversified financial institution, provides various financial products and services to personal, business, public sector, and institutional clients in Canada, the United States, and internationally. The company operates through four strategic business units: Canadian Personal and Business Banking; Canadian Commercial Banking and Wealth Management; U.S. Commercial Banking and Wealth Management; and Capital Markets. The company offers chequing, savings, and business accounts; mortgages; loans, lines of credit, student lines of credit, and business and agriculture loans; investment and insurance services; and credit cards, as well as overdraft protection services. It also provides day-to-day banking, borrowing and credit, investing and wealth, specialty, and international services; correspondent banking and online foreign exchange services; and cash management services. The company serves its customers through its banking centers, as well as direct, mobile, and remote channels. Canadian Imperial Bank of Commerce was founded in 1867 and is headquartered in Toronto, Canada.
IPO Year:
Exchange: NYSE
Website: cibc.com
| Date | Price Target | Rating | Analyst |
|---|---|---|---|
| 8/30/2024 | Neutral → Buy | BofA Securities | |
| 7/2/2024 | Neutral | UBS | |
| 6/3/2024 | Mkt Perform → Outperform | Keefe Bruyette | |
| 3/20/2024 | Underweight | Barclays | |
| 2/22/2024 | Buy | Jefferies | |
| 2/20/2024 | Sector Perform → Sector Outperform | Scotiabank | |
| 12/20/2023 | Sector Perform → Outperform | National Bank Financial | |
| 12/18/2023 | Underperform → Neutral | BofA Securities | |
| 5/10/2023 | Hold → Buy | Canaccord Genuity | |
| 12/12/2022 | Neutral → Underperform | BofA Securities |
TORONTO, Nov. 15, 2024 /CNW/ - CIBC has been recognized as one of Canada's Top 100 Employers for 2025 by Mediacorp Canada Inc., marking 13 consecutive years for CIBC on this prestigious list. The annual competition assesses employers on key criteria, including workplace environment, employee benefits, skills development, and community engagement. "Our team members bring our purpose-driven culture to life every day through their commitment to our clients and communities," said Sandy Sharman, Group Head, People, Culture and Brand at CIBC. "To support them in making a meaningful
TORONTO, Nov. 7, 2024 /CNW/ - CIBC (TSX:CM) (NYSE:CM) will be announcing its 2024 fourth quarter results for the quarter ended October 31, 2024, on Thursday, December 5, 2024. The results are expected to be released at approximately 5:30 a.m. (ET), followed by a live audio webcast and teleconference call with analysts, investors and media at 7:30 a.m. (ET). Earnings Conference Call/Webcast English 416-340-2217, or toll-free 1-800-806-5484, passcode 1073773#French 514-392-1587, or toll-free 1-800-898-3989, passcode 5601311#Participants are asked to dial in 10 minutes before th
TORONTO, Oct. 29, 2024 /CNW/ - CIBC (TSX:CM) (NYSE:CM) today announced the public offering in the United States of US$500 million of 6.950% Fixed Rate Reset Limited Recourse Capital Notes Series 5 (Non-Viability Contingent Capital (NVCC)) (Subordinated Indebtedness) (the "LRCNs"). The LRCNs will bear interest at a rate of 6.950% annually, payable quarterly, for the initial period ending on, but excluding, January 28, 2030. Thereafter, the interest rate on the LRCNs will reset every five years at a rate equal to the prevailing 5-year U.S. Treasury Rate plus 2.833%. The LRCNs will mature on January 28, 2085. The expected closing date of the offering is November 5, 2024. In connection with the
TORONTO, Oct. 25, 2024 /CNW/ - CIBC announced today that it received the highest score in customer satisfaction among the big 5 Canadian banks, according to the J.D. Power 2024 Canada Small Business Banking Satisfaction Study, marking the second year in a row the bank has received this first-place ranking. "Being recognized by J.D. Power as the leading bank in small business satisfaction for two consecutive years is a reflection of our bank's ongoing commitment to our clients and to helping Canadian small businesses succeed," said Andrew Antoniadis, Senior Vice-President, Busi
TORONTO, Oct. 24, 2024 /CNW/ - CIBC (TSX:CM) (NYSE:CM) – CIBC Asset Management Inc. today announced the October 2024 cash distributions for CIBC ETFs and ETF Series of the CIBC Fixed Income Pools, which distribute monthly. Unitholders of record on October 31, 2024, will receive cash distributions payable on November 5, 2024. Details of the final "per unit" distribution amounts are as follows: CIBC ETF Ticker Symbols Exchange Cash Distribution Per Unit ($) CIBC Active Investment Grade Corporate Bond ETF CACB TSX $0.076 CIBC Active Investment Grade Floating Rate Bond ETF CAFR
TORONTO, Oct. 23, 2024 /CNW/ - CIBC (TSX:CM) (NYSE:CM) today announced that it is lowering its Canadian prime lending rate by 50 basis points from 6.45 per cent to 5.95 per cent, effective Thursday, October 24, 2024. About CIBC CIBC is a leading North American financial institution with 14 million personal banking, business, public sector and institutional clients. Across Personal and Business Banking, Commercial Banking and Wealth Management, and Capital Markets, CIBC offers a full range of advice, solutions and services through its leading digital banking network, and loca
CIBC's mobile platform rated best consumer banking mobile experience for the 7th time in the past 8 years TORONTO, Oct. 11, 2024 /CNW/ - CIBC has won the 2024 Mobile Banking Award by Surviscor Inc., a North American firm specializing in the analysis and ranking of Canadian digital customer experiences. CIBC ranks the highest among mobile banking apps offered by Canada's big banks. "Being recognized as the highest ranked mobile banking app by Surviscor Inc. for the 7th time speaks to our team's commitment to our clients and their mobile banking experience," said Michael Clabby, Executive Vice-President, Head of Digital, Data and Strategy, CIBC. "We're committed to continuously finding ways to
TORONTO and CHICAGO, Oct. 10, 2024 /PRNewswire/ - CIBC today announced it is donating US$100,000 to the American Red Cross to support Hurricane Milton relief efforts. This is in addition to the US$100,000 that was donated earlier this month to support those impacted by Hurricane Helene. "We join our clients and team members across North America in supporting efforts to help those impacted by Hurricane Milton," said Shawn Beber, Senior Executive Vice-President and Group Head, CIBC US Region and President and CEO, CIBC Bank USA. "Our thoughts are with the Florida communities tha
TORONTO, Oct. 8, 2024 /CNW/ - The 33rd annual Canadian Cancer Society CIBC Run for the Cure took place on October 6, bringing together 55,000 participants and volunteers, including 13,000 Team CIBC members who laced up their shoes at 53 Run sites from coast-to-coast-to-coast. This year, over $15M was raised, including $2.5M by Team CIBC. The funds raised will continue to be invested in ground-breaking breast cancer research and compassionate support programs to improve treatment, prevention, detection, diagnosis, wellness and survivorship and ensure those living with breast cancer live longer, fuller lives.
TORONTO and CHICAGO, Oct. 2, 2024 /PRNewswire/ - CIBC today announced it is donating US$100,000 to the American Red Cross to support Hurricane Helene relief efforts. "We join our clients and team members across North America in supporting efforts to help those impacted by Hurricane Helene," said Shawn Beber, Senior Executive Vice-President and Group Head, CIBC US Region and President and CEO, CIBC Bank USA. "Our thoughts are with the communities that have been affected by this widespread disaster." Individuals and companies that wish to help with ongoing disaster relief effort
SC 13G/A - CANADIAN IMPERIAL BANK OF COMMERCE /CAN/ (0001045520) (Subject)
SC 13G - CANADIAN IMPERIAL BANK OF COMMERCE /CAN/ (0001045520) (Subject)
TORONTO, Nov. 7, 2024 /CNW/ - CIBC (TSX:CM) (NYSE:CM) will be announcing its 2024 fourth quarter results for the quarter ended October 31, 2024, on Thursday, December 5, 2024. The results are expected to be released at approximately 5:30 a.m. (ET), followed by a live audio webcast and teleconference call with analysts, investors and media at 7:30 a.m. (ET). Earnings Conference Call/Webcast English 416-340-2217, or toll-free 1-800-806-5484, passcode 1073773#French 514-392-1587, or toll-free 1-800-898-3989, passcode 5601311#Participants are asked to dial in 10 minutes before th
TORONTO, Oct. 24, 2024 /CNW/ - CIBC (TSX:CM) (NYSE:CM) – CIBC Asset Management Inc. today announced the October 2024 cash distributions for CIBC ETFs and ETF Series of the CIBC Fixed Income Pools, which distribute monthly. Unitholders of record on October 31, 2024, will receive cash distributions payable on November 5, 2024. Details of the final "per unit" distribution amounts are as follows: CIBC ETF Ticker Symbols Exchange Cash Distribution Per Unit ($) CIBC Active Investment Grade Corporate Bond ETF CACB TSX $0.076 CIBC Active Investment Grade Floating Rate Bond ETF CAFR
TORONTO, Sept. 20, 2024 /CNW/ - CIBC (TSX:CM) (NYSE:CM) – CIBC Asset Management Inc. today announced the September 2024 cash distributions for CIBC ETFs, which distribute monthly and quarterly. Unitholders of record on September 27, 2024, will receive cash distributions payable on October 3, 2024. Details of the final "per unit" distribution amounts are as follows: CIBC ETF Ticker Symbols Exchange Cash Distribution Per Unit ($) CIBC Active Investment Grade Corporate Bond ETF CACB TSX $0.077 CIBC Active Investment Grade Floating Rate Bond ETF CAFR TSX $0.072 CIBC Flexible Yield
TORONTO, Aug. 29, 2024 /CNW/ - CIBC (TSX:CM) (NYSE:CM) announced today that its Board of Directors declared a dividend of $0.90 per share on common shares for the quarter ending October 31, 2024 payable on October 28, 2024 to shareholders of record at the close of business on September 27, 2024. Class A Preferred Shares The Board of Directors also declared the following dividends per share: For the period ending October 31, 2024 payable on October 28, 2024 to shareholders of record at the close of business on September 27, 2024: Series 41 - $0.244313 Series 43 - $0.196438 Seri
TORONTO, Aug. 29, 2024 /CNW/ - CIBC (TSX:CM) (NYSE:CM) today announced its financial results for the third quarter ended July 31, 2024. Third quarter highlights Q3/24 Q3/23 (1) Q2/24 YoY Variance QoQ Variance Revenue $6,604 million $5,852 million $6,164 million +13 % +7 % Reported Net Income $1,795 million $1,432 million $1,749 million +25 % +3 % Adjusted Net Income (2) $1,895 million $1,475 million $1,718 million +28 % +10 % Adjusted pre-provision, pre-tax earnings (2) $2,939 million $2,602 million $2,690 million +13 % +9 % Reported Diluted Earnings Per Shar
TORONTO, Aug. 23, 2024 /CNW/ - CIBC (TSX:CM) (NYSE:CM) – CIBC Asset Management Inc. today announced the August 2024 cash distributions for CIBC ETFs and ETF Series of the CIBC Fixed Income Pools, which distribute monthly. Unitholders of record on August 30, 2024, will receive cash distributions payable on September 5, 2024. Details of the final "per unit" distribution amounts are as follows: CIBC ETF TickerSymbols Exchange Cash DistributionPer Unit ($) CIBC Active Investment Grade Corporate Bond ETF CACB TSX $0.076 CIBC Active Investment Grade Floating Rate Bond ETF CAFR TSX
TORONTO, Aug. 2, 2024 /CNW/ - CIBC (TSX:CM) (NYSE:CM) will be announcing its 2024 third quarter results for the quarter ended July 31, 2024, on Thursday, August 29, 2024. The results are expected to be released at approximately 6:00 a.m. (ET), followed by a live audio webcast and teleconference call with analysts, investors and media at 8:00 a.m. (ET). Earnings Conference Call/Webcast English 416-340-2217, or toll-free 1-800-806-5484, passcode 1073773#French 514-392-1587, or toll-free 1-800-898-3989, passcode 5601311#Participants are asked to dial in 10 minutes before the cal
TORONTO, July 24, 2024 /CNW/ - CIBC (TSX:CM) (NYSE:CM) – CIBC Asset Management Inc. today announced the July 2024 cash distributions for CIBC ETFs and ETF Series of the CIBC Fixed Income Pools, which distribute monthly. Unitholders of record on July 31, 2024, will receive cash distributions payable on August 6, 2024. Details of the final "per unit" distribution amounts are as follows: CIBC ETF Ticker Symbols Exchange Cash Distribution Per Unit ($) CIBC Active Investment Grade Corporate Bond ETF CACB TSX $0.073 CIBC Active Investment Grade Floating Rate Bond ETF CAFR TSX $0.0
TORONTO, June 21, 2024 /CNW/ - CIBC (TSX:CM) (NYSE:CM) - CIBC Asset Management Inc. today announced the June 2024 cash distributions for CIBC ETFs and ETF Series of the CIBC Fixed Income Pools, which distribute monthly and quarterly. Unitholders of record on June 28, 2024, will receive cash distributions payable on July 4, 2024. Details of the final "per unit" distribution amounts are as follows: CIBC ETF Ticker Symbols Exchange Cash Distribution Per Unit ($) CIBC Active Investment Grade Corporate Bond ETF CACB TSX $0.071 CIBC Active Investment Grade Floating Rate Bond E
TORONTO, June 25, 2024 /CNW/ - CIBC (TSX:CM) (NYSE:CM) today announced its intention to redeem all of its issued and outstanding Non-cumulative Rate Reset Class A Preferred Shares Series 51 (Non-viability contingent capital (NVCC)) (Series 51 shares) (TSX:CM), for cash. The redemption will occur on July 31, 2024. The redemption price is $25.00 per Series 51 share. The $0.321875 quarterly dividend announced on May 30, 2024 will be the final dividend on the Series 51 shares and will be paid on July 29, 2024, covering the period to July 31, 2024, to shareholders of record on Jun
FWP - CANADIAN IMPERIAL BANK OF COMMERCE /CAN/ (0001045520) (Subject)
FWP - CANADIAN IMPERIAL BANK OF COMMERCE /CAN/ (0001045520) (Subject)
FWP - CANADIAN IMPERIAL BANK OF COMMERCE /CAN/ (0001045520) (Subject)
FWP - CANADIAN IMPERIAL BANK OF COMMERCE /CAN/ (0001045520) (Subject)
6-K - CANADIAN IMPERIAL BANK OF COMMERCE /CAN/ (0001045520) (Filer)
6-K - CANADIAN IMPERIAL BANK OF COMMERCE /CAN/ (0001045520) (Filer)
424B3 - CANADIAN IMPERIAL BANK OF COMMERCE /CAN/ (0001045520) (Filer)
424B3 - CANADIAN IMPERIAL BANK OF COMMERCE /CAN/ (0001045520) (Filer)
FWP - CANADIAN IMPERIAL BANK OF COMMERCE /CAN/ (0001045520) (Subject)
FWP - CANADIAN IMPERIAL BANK OF COMMERCE /CAN/ (0001045520) (Subject)
BofA Securities upgraded CIBC from Neutral to Buy
UBS initiated coverage of CIBC with a rating of Neutral
Keefe Bruyette upgraded CIBC from Mkt Perform to Outperform
Barclays initiated coverage of CIBC with a rating of Underweight
Jefferies initiated coverage of CIBC with a rating of Buy
Scotiabank upgraded CIBC from Sector Perform to Sector Outperform
National Bank Financial upgraded CIBC from Sector Perform to Outperform
BofA Securities upgraded CIBC from Underperform to Neutral
Canaccord Genuity upgraded CIBC from Hold to Buy
BofA Securities downgraded CIBC from Neutral to Underperform
Roles in Data, Advanced Analytics and AI will bolster the bank's tech talent over the next 12 months TORONTO, Aug. 6, 2024 /CNW/ - CIBC today announced plans to hire more than 200 data and AI roles over the next 12 months as it continues to leverage AI capabilities to further execute on the bank's client-focused strategy. "We strongly believe that using AI thoughtfully will add to the momentum we have across our bank in delivering for our stakeholders and executing on our client-focused growth strategy," said Christina Kramer, Group Head, Technology, Infrastructure and Innovat
TORONTO, April 16, 2024 /CNW/ - CIBC has proudly been recognized as one of Canada's Greenest Employers for 2024, marking the third consecutive year the bank has received this award from MediaCorp Canada. This recognition underscores CIBC's commitment to environmental stewardship and its efforts to create a culture of sustainability within the bank and broader community. "We are honoured to be named as one of Canada's Greenest Employers," said Kikelomo Lawal, Executive Vice-President, Chief Legal Officer and Chair of the Senior Executive ESG Council, CIBC. "Sustainability is a
CIBC today announced a split (the "CDR Split") of its Nvidia Canadian Depositary Receipts (CAD Hedged) ("Nvidia CDRs"), as indicated in the table below. Cboe Canada Ticker Symbol CDR Series Closing Price (July 2, 2024) Forward Split Ratio NVDA Nvidia Canadian Depositary Receipts (CAD Hedged) $115.70 4-for-1 The CDR Split will take effect by way of a subdivision of all Nvidia CDRs that are outstanding after the close of trading on July 9, 2024, each outstanding Nvidia CDR automatically being split into the number of post-split Nvidia CDRs as indicated in the table abov
UBS analyst Jill Shea initiates coverage on Canadian Imperial Bank (TSX:CM) with a Neutral rating and announces Price Target of C$70.
BMO Capital analyst Sohrab Movahedi maintains Canadian Imperial Bank (NYSE:CM) with a Outperform and raises the price target from $74 to $77.
Credit quality Provision for credit losses was $514 million, up $76 million from the same quarter last year. Provision for credit losses on performing loans was up mainly due to a lower provision reversal in Canadian Personal and Business Banking, partially offset by lower provisions in U.S. Commercial Banking and Wealth Management. Provision for credit losses on impaired loans was up mainly due to higher provisions in U.S. Commercial Banking and Wealth Management, and Canadian Personal and Business Banking, partially offset by lower provisions in Canadian Commercial Banking and Wealth Management.
Canadian Imperial Bank (NYSE:CM) reported quarterly earnings of C$1.75 per share which beat the analyst consensus estimate of C$1.66 by 5.42 percent. This is a 2.94 percent increase over earnings of C$1.70 per share from the same period last year. The company reported quarterly sales of C$6.164 billion which beat the analyst consensus estimate of C$6.098 billion by 1.07 percent. This is a 8.06 percent increase over sales of C$5.704 billion the same period last year.
Barclays analyst Brian Morton initiates coverage on Canadian Imperial Bank (TSX:CM) with a Underweight rating and announces Price Target of C$70.
Canadian Imperial Bank (NYSE:CM) reported quarterly adj earnings of $1.33 per share which beat the analyst consensus estimate of $1.23 by 8.13 percent. This is a 6.99 percent decrease over earnings of $1.43 per share from the same period last year. The company reported quarterly sales of $4.57 billion which beat the analyst consensus estimate of $4.49 billion by 1.78 percent. This is a 4.36 percent increase over sales of $4.38 billion the same period last year.
Companies Reporting Before The Bell • Frontline (NYSE:FRO) is expected to report quarterly earnings at $0.46 per share on revenue of $276.19 million. • NB Bancorp (NASDAQ:NBBK) is likely to report earnings for its Fiscal Year 2023. • Verona Pharma (NASDAQ:VRNA) is projected to report quarterly loss at $0.26 per share on revenue of $0. • iHuman (NYSE:IH) is estimated to report earnings for its fourth quarter. • argenx (NASDAQ:ARGX) is estimated to report quarterly loss at $1.71 per share on revenue of $364.75 million. • Titan Intl (NYSE:TWI) is expected to report quarterly earnings at $0.28 per share on revenue of $413.57 million. • Canadian Imperial Bank (NYSE:CM) is projected to repo