|Bid||0.00 x 900|
|Ask||0.00 x 1000|
|Day's range||79.55 - 80.58|
|52-week range||78.80 - 100.01|
|Beta (3Y monthly)||1.20|
|PE ratio (TTM)||9.15|
|Forward dividend & yield||4.09 (5.06%)|
|1y target est||98.31|
Canadian Imperial's (CM) fourth-quarter fiscal 2018 results reflect an improvement in revenues and a strong balance sheet. However, dismal fiscal 2019 earnings outlook hurts investors' sentiments.
Canadian Imperial Bank (CM) delivered earnings and revenue surprises of 1.32% and -1.32%, respectively, for the quarter ended October 2018. Do the numbers hold clues to what lies ahead for the stock?
The U.S. unit contributed C$131 million ($98.6 million) to earnings, up from C$107 million a year ago, when it acquired Chicago-based PrivateBank in its largest takeover ever. Key InsightsChief Executive Officer Victor Dodig had big plans after closing the $5 billion takeover of PrivateBank last year, setting a goal of getting 17 percent of earnings from U.S. businesses, including capital markets, by 2020.Canada’s fifth-largest lender by assets gets a greater share of earnings from domestic banking than any of its larger peers, which has led to investor criticism that it’s too focused on its home country.
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.
Canadian Imperial Bank (CM) has an impressive earnings surprise history and currently possesses the right combination of the two key ingredients for a likely beat in its next quarterly report.
The Ontario Superior Court of Justice has recently moved to take custody of a large sum of assets from a crypto exchange currently frozen in accounts at the Canadian Imperial Bank of Commerce (CIBC).According to a recent court document, the CIBC had frozen several accounts of some disputed assets at the crypto exchange QuadrigaCX, including $25.7 million CAD and $69,000 USD. The bank was allegedly unable to identify who the exact owner of these accounts was along with millions that were deposited by the exchange’s various clients, so it froze them indefinitely.This has prompted legal action on behalf of QuadrigaCX which has been trying to reclaim the money that they claimed entitlement to.With such large sums in limbo, many of this exchange’s customers have been unable to access their money at all, leaving the company’s day-to-day ability to function in jeopardy. Emails sent from representatives of QuadrigaCX to CIBC were submitted as evidence to the court, including concerns that the exchange was “under extreme pressure from many clients to address this ASAP” and that “lawsuits are being filed against us.”However, the court has evidently decided to take neither party’s side in this juncture. Judge Glenn Hainey has instead ruled that CIBC transfer custody and liability of these frozen assets to the courts themselves, so that they may more thoroughly inspect them to determine their specific ownership.Even a ruling in QuadrigaCX’s favor could still spell trouble for the exchange, however. According to the court documents, it was CIBC that originally made the application to make the court the final authority on these funds’ ownership, and the court specifically decided to grant CIBC’s request. The exchange may eventually see its funds returned, but Judge Hainey stated, “I am not in a position on this record to make any determination as to CIBC’s possible liability for [freezing the accounts].” Without some sort of damages paid to QuadrigaCX for the inconvenience of losing access to $26 million dollars, the lawsuits filed from the exchange’s depositors may prove a problem down the road. This article originally appeared on Bitcoin Magazine.
There is a lot to be liked about Canadian Imperial Bank of Commerce (TSE:CM) as an income stock. It has paid dividends over the past 10 years. The company currentlyRead More...
Canadian Imperial Bank of Commerce broke ground with that nation’s first bond sale that will advance gender diversity in the corporate world. The bank on Wednesday sold C$1 billion ($769 million) of three-year deposit notes, which will support lending to companies committed to promoting women to executive positions. “The framework we have created could work for any issuer, any bank, and by no means will we keep that quiet,” Susan Rimmer, a managing director and head of global corporate banking for CIBC Capital Markets, said in an interview.
Victor Dodig, Canadian Imperial Bank of Commerce chief executive officer, discusses the bank's U.S. expansion plans and financial regulation with Bloomberg's Amanda Lang on "Bloomberg Markets." ...
This analysis is intended to introduce important early concepts to people who are starting to invest and want to start learning about core concepts of fundamental analysis on practical examplesRead More...
Canadian Imperial Bank (CM) delivered earnings and revenue surprises of 7.21% and 3.92%, respectively, for the quarter ended July 2018. Do the numbers hold clues to what lies ahead for the stock?
Mortgage balances rose 2.5 percent to C$208.5 billion ($160 billion) in the fiscal third quarter from a year earlier, the Toronto-based bank said Thursday in announcing earnings that beat analysts’ estimates. Royal Bank of Canada said this week that mortgage balances were 5.9 percent higher than a year earlier. CIBC executives said in May that domestic loan growth would “moderate” in the second half of the year, with Canadian banking head Christina Kramer estimating that it would fall to “low-single-digits” by year-end.
For a decade, Bank of Montreal executives eyed with envy Chicago’s bustling corner of West Washington Street and North Wacker Drive.
Shares of Canadian Imperial Bank of Commerce (TSE:CM) will begin trading ex-dividend in 2 days. To qualify for the dividend check of CA$1.33 per share, investors must have owned theRead More...
As an investor, I look for investments which does not compromise one fundamental factor for another. By this I mean, I look at stocks holistically, from their financial health toRead More...
A year after buying Chicago-based PrivateBank in its biggest ever acquisition, Canadian Imperial Bank of Commerce’s U.S. foray is already exceeding its expectations. CIBC’s U.S. head Larry Richman -- the veteran Chicago banking executive who migrated with the $5 billion acquisition completed in June 2017 -- said he’s driving a “strong and steady" expansion under the wings of Canada’s fifth-largest lender by assets. “We feel like we’ve got some major things to accomplish," Richman, 66, said in an interview from his personal conference room at CIBC’s newly adopted U.S. headquarters in Chicago.
Canadian Imperial Bank of Commerce is no longer such an outlier on mortgages. CIBC’s rapid expansion of Canadian home loans has eased, bringing it more in line with the industry and ending a two-year streak of outpacing the nation’s other big banks. Mortgage balances rose 6 percent to C$208.2 billion ($161.6 billion) in the fiscal second quarter from a year earlier, the Toronto-based bank said Wednesday in announcing earnings that beat analysts’ estimates.