|Bid||104.55 x 0|
|Ask||104.57 x 0|
|Day's Range||103.07 - 105.18|
|52 Week Range||99.51 - 125.21|
|Beta (3Y Monthly)||1.07|
|PE Ratio (TTM)||9.20|
|Earnings Date||Aug 21, 2019 - Aug 26, 2019|
|Forward Dividend & Yield||5.60 (4.96%)|
|1y Target Est||124.43|
Investors longing for a dividend-producing portfolio that can be owned for eternity should pick Bank of Montreal (TSX:BMO)(NYSE:BMO), Canadian Imperial Bank of Commerce (TSX:CM)(NYSE:CM), and Canadian Utilities Limited (TSX:CU).
Canadian Imperial Bank of Commerce (TSX:CM)(NYSE:CM) reported weaker-than-expected results in the most recent quarter but does this still make the bank a good investment?
These three stocks, including Canadian Imperial Bank of Commerce (TSX:CM)(NYSE:CM), might be too dangerous for you to handle.
TORONTO, May 24, 2019 /CNW/ - CIBC (TSX/NYSE: CM) today announced that it had entered into an agreement with a group of underwriters led by CIBC Capital Markets for an issue of 10 million Basel III-compliant Non-cumulative Rate Reset Class A Preferred Shares Series 51 (Non-Viability Contingent Capital (NVCC)) (the "Series 51 Shares") priced at $25.00 per Series 51 Share to raise gross proceeds of $250 million.
TORONTO , May 24, 2019 /CNW/ - CIBC (TSX: CM; NYSE: CM) – CIBC Asset Management Inc. today announced the May 2019 cash distributions for CIBC Active Investment Grade Floating Rate Bond ETF and CIBC Active ...
Canadian Imperial Bank of Commerce (TSX:CM)(NYSE:CM) stock is getting hit after a lower-than-expected quarter, but this Canadian bank, with its 5.4% divided yield and successful entry into the U.S., is looking increasingly attractive on a long-term basis.
Canadian Imperial Bank of Commerce (TSX:CM)(NYSE:CM) just reported results that missed analyst expectations. Should you buy or sell the stock right now?
Weak loan growth and higher loan loss provisions hurt the bank's bottomline in the second quarter ended April 30, as higher interest rates - which in the past had helped the bank earn more from loans, crimped borrowers' ability to take out loans. The Bank of Canada has raised interest rates five times since July 2017, while the U.S. Federal Reserve has boosted rates six times over the same period. CIBC's negligible loan growth was exacerbated by a dip in home loans, which fell mostly due to stringent regulatory rules that require borrowers' uninsured mortgages to be stress-tested to check their ability to repay.
TORONTO — Canadian Imperial Bank Of Commerce saw slow growth in personal and small business banking, offsetting its gains in capital markets and U.S. commercial banking as total earnings fell short of analysts' expectations.Chief executive Victor Dodig cited "modest" year-over-year revenue growth last quarter at CIBC's retail banking unit, which nonetheless saw earnings fall 2.4 per cent to $570 million compared to the same period in 2018.Higher interest rates compensated in part for sluggish loan growth and higher provisions on impaired loans — provision for credit losses rose 20 per cent year over year to $255 million.The Bank of Canada has hiked interest rates five times between mid-2017 and last fall, boosting revenue but raising the bar for borrowers and precipitating a slowdown in CIBC loans.Dodig said he expects "relatively flat" total year-over-year earnings in 2019, "given market conditions to date and our decision to continue investing in the business.""Despite market volatility, which was driven largely by geopolitical uncertainty, the economic environment continues to be constructive across our businesses," he said on an earnings call with investors Wednesday.Trade tensions between the United States and China continue to rise along with a mounting trade war, on top of ongoing uncertainty over the global economy following a decade of continuous growth.In commercial banking, CIBC saw its Canadian loan and deposit balances grow in the double-digits last quarter, yielding 5.8 per cent net income growth year over year to $328 million.Earnings from the lender's U.S. commercial banking and wealth management business grew 18 per cent to $163 million.Higher underwriting and advisory fees helped boost profits at the bank's capital markets business, which includes investment banking, by 12 per cent to $279 million.CIBC reported a second-quarter profit of $1.35 billion, up 2.2 per cent from $1.32 billion in the same quarter last year.The Toronto-based lender said its overall profit amounted to $2.95 per diluted share for the quarter ended April 30, up from $2.89 per diluted share a year ago.Provision for credit losses was $255 million, up $43 million from the second quarter a year ago.On an adjusted basis, CIBC said it earned $2.97 per diluted share for the quarter, up from an adjusted profit of $2.95 per diluted share.Analysts had expected a profit of $2.99 per share for the quarter, according to Thomson Reuters Eikon. Companies in this story: (TSX:CM)The Canadian Press
Wary investors with little appetite for risk may want to consider buying stocks such as Canadian Imperial Bank of Commerce (TSX:CM)(NYSE:CM).
CIBC is now seeing a contraction of its domestic mortgage book for the second straight quarter, with C$201 billion ($150 billion) in balances, down 1% from a year ago, as prices in once-hot markets such as Vancouver cool and tighter lending criteria affect borrowers. Key InsightsThree “big” non-performing commercial and corporate loans in different industries were blamed by CIBC executives for a spike in provisions in the fiscal first quarter. Provisions for the second quarter were C$255 million, compared with C$338 million in the previous three months and C$212 million a year earlier.National Bank of Canada analyst Gabriel Dechaine highlighted CIBC’s “unusual” mortgage trends in a May 12 note that suggested the bank should target more consistent growth patterns in this key area.
TORONTO , May 22, 2019 /CNW/ - CIBC (TSX: CM; NYSE: CM) today announced that CIBC Capital Trust, a trust wholly-owned by CIBC, intends to redeem all $1.3 billion of its 9.976% CIBC Tier 1 Notes – Series ...
TORONTO, May 22, 2019 /CNW/ - CIBC (TSX/NYSE: CM) today announced its intention to seek Toronto Stock Exchange (TSX) approval for a normal course issuer bid. Purchases of common shares for cancellation will be made subject to CIBC's ongoing capital requirements. Such purchases will not exceed nine million common shares, or approximately 2% of its outstanding common shares over a 12 month period.
TORONTO , May 22, 2019 /CNW/ - CIBC (TSX: CM; NYSE: CM) announced today that its Board of Directors declared a dividend of $1.40 per share on common shares for the quarter ending July 31 , 2019 payable ...
TORONTO , May 22, 2019 /CNW/ - CIBC (TSX: CM) (NYSE: CM) today announced its financial results for the second quarter ended April 30, 2019 . Second quarter highlights Q2/19 Q2/18 Q1/19 YoY Variance QoQ ...
Toronto-Dominion Bank (TSX:TD) (NYSE:TD) and Canadian Imperial Bank of Commerce (TSX:CM) (NYSE:CM) second quarters will continue to show their vulnerability to a weakening consumer and housing market, but they remain key long-term holdings for our retirement accounts.
Canadian Imperial Bank of Commerce (TSX:CM)(NYSE:CM) and these two other bank stocks look like good buys today and they could be about to get a boost.
TORONTO , May 15, 2019 /CNW/ - CIBC (TSX: CM) (NYSE: CM ) has earned the highest overall score in Canada among the banks evaluated in The Forrester Banking Wave™: Canadian Mobile Apps, Q2 2019 report. ...
Suncor Energy Inc. (TSX:SU)(NYSE:SU) and one other stock are possible contenders for a long-term dividend portfolio, but which is the best buy?
TORONTO , May 13, 2019 /CNW/ - CIBC (TSX: CM) (NYSE: CM) – CIBC Asset Management Inc. is making changes to its lineup of U.S. equity strategies, effective on or about July 2, 2019 , to further strengthen ...
Canadian Imperial Bank of Commerce (TSX:CM)(NYSE:CM) is trading at a large discount to its peers. Is this the right time to buy?
TORONTO, May 13, 2019 /CNW/ - CIBC (TSX:CM - News) (NYSE:CM - News) today unveiled a first-of-its-kind banking platform in Canada designed to help small and medium-sized businesses run and grow their companies. Called CIBC SmartBanking™ for Business, this digital solution gives business owners a comprehensive view of their company's finances, including accounting and payroll insights, and makes it easier to manage their business.