72.85 0.00 (0.00%)
After hours: 4:15PM EDT
|Bid||72.56 x 800|
|Ask||72.61 x 800|
|Day's range||72.36 - 74.39|
|52-week range||46.45 - 87.62|
|Beta (5Y monthly)||1.10|
|PE ratio (TTM)||8.32|
|Forward dividend & yield||4.25 (5.99%)|
|Ex-dividend date||26 Jun 2020|
|1y target est||98.31|
CIBC Innovation Banking is pleased to announce a US$6 million revolving credit facility for Virginia-based Vbrick Systems Inc. ("Vbrick"), an industry-leading provider of video platform solutions. With operations in North America, Europe and Australia, the credit facility will be used to accelerate its rapid growth trajectory with investments in new customer acquisition and product innovation.
TORONTO and CHICAGO , June 4, 2020 /CNW/ - CIBC today announced that it is contributing $700,000 to local not-for-profits across Canada and the United States in support of efforts to empower Black youth, individuals and families in building strong communities. This includes listening carefully to those whose lives are different from our own and being more intentionally inclusive in our life, our work and communities. As part of today's announcement, CIBC is providing $275,000 in new support for the Black community, which will be allocated in close consultation with our Black employees and local partners.
Canadian Imperial's (CM) second-quarter fiscal 2020 results indicate rise in provisions, expenses and lower non-interest income, partly offset by improved net interest income.
Canadian Imperial Bank of Commerce (CIBC) took a mark-to-market trading loss of C$88.2 million ($64 million) in one day in March due mainly to volatility in the gold market, the bank said in its second-quarter earnings report on Thursday. CIBC is not alone in being caught out when the coronavirus outbreak interrupted gold supply routes and gold futures prices in New York shot above London spot prices. CIBC said the loss happened on March 24 and was "mostly attributable to our precious metals trading business".
Canadian Imperial Bank (CM) delivered earnings and revenue surprises of -41.88% and -0.18%, respectively, for the quarter ended April 2020. Do the numbers hold clues to what lies ahead for the stock?
Investors and analysts are bracing for massive earnings declines at Canadian banks this fiscal year, after second-quarter profits halved as they set aside billions of dollars to cover loan losses from the coronavirus pandemic and a struggling energy sector. Market watchers warned that the nearly four-fold increase in provisions, to nearly C$11 billion ($8 billion), in the three months through April may not be adequate to absorb potential loan losses at some of the top six banks, with further increases likely to weigh on performance this year. "This was the most negative quarter that I can recall seeing in 25 years," said Brian Madden, a portfolio manager at Goodreid Investment Counsel.
CIBC Declares Dividends for the Quarter Ending July 31, 2020
CIBC Innovation Banking is pleased to announce a $5 million growth capital financing with Toronto-based Sensibill Inc. ("Sensibill"), a provider of everyday tools such as digital receipt management and SKU-level data that help institutions better know and serve customers. Backed by Radical Ventures, Information Venture Partners, First Ascent Ventures and Impression Ventures, the company will use the funds to support its plans for strategic growth.
TORONTO , May 13, 2020 /CNW/ - CIBC announced today it is recognizing Canadian frontline health care workers who have sacrificed so much to keep us safe during COVID-19 by providing 30 million Aventura points to give these tireless workers a well-deserved break to recharge and reconnect with family. Nominations are open to all Canadians and can be made at CIBCHolidaysForHeroes.com.
TORONTO , May 7, 2020 /CNW/ - As the disruption caused by COVID-19 creates more pressure on Canadians and their finances, CIBC's support measures have now helped over 200,000 personal and small business banking clients with over $3 billion in improved cash flow through payment deferrals on mortgages, loans, and credit cards, and loans to small businesses through the Canada Emergency Business Account. To date, CIBC has provided relief measures on credit balances of $37 billion . "We understand that every measure of financial relief and advice during this difficult time makes a huge difference to our clients by giving them added cash flow and the confidence that they can manage through the near-term," said Laura Dottori-Attanasio , Senior Executive Vice-President and Group Head, Personal and Business Banking, CIBC.
TORONTO , May 4, 2020 /CNW/ - A new CIBC study finds that the majority (81 per cent) of Canadian small business owners say COVID-19 has negatively impacted their operations, and many (32 per cent) worry about the viability of their business over the next year. The majority (85 per cent) agree the uncertainty of how long COVID-19 measures will last is currently the hardest aspect to manage. Many business owners (54 per cent) say sales have dropped, and an additional 28 per cent have had to temporarily shut down operations altogether.
CIBC launches Advice for Today, an online resource focused on financial advice and insight during COVID-19
TORONTO , Apr. 22, 2020 /CNW/ - CIBC (CM) (CM) is donating $50,000 to the RCMP Foundation and $50,000 to IWK Health Centre, a leading health centre in Nova Scotia , in response to the recent tragic events in the province. The funding for the RCMP Foundation will support local work in reducing violence and keeping Canadian communities safe. The funding for IWK Health Centre will be earmarked for their Virtual Mental Health Program, which they are working to expand as a result of increased call volume from the public, clinicians and doctors' referrals.
CIBC announces new loan program with Export Development Corporation to provide liquidity to Canadian businesses
Canadian banks are beginning to relax lending standards for energy firms struggling to operate with oil prices at half the level needed to cover costs, seeking to keep them afloat until the industry recovers from its deepest slump ever. Banks are extending credit and waiving covenants for some energy companies to avoid forcing defaults and bankruptcies that leave the lenders holding assets, in contrast to some U.S. counterparts preparing to seize oil and gas fields. A 2019 Canadian Supreme Court ruling requiring bankrupt oil companies to prioritize clean-up of inactive wells over paying creditors is also an incentive, analysts said.
CIBC Innovation Banking is pleased to announce a $25 million credit facility for Q4 Inc. (Q4), a Toronto based leading global provider of cloud-based investor relations and capital markets solutions. Q4 will use this latest growth financing to support continued scaling of its team, deepening of its best-in-class technology platform, and the continued pursuit of inorganic growth opportunities.
CIBC Innovation Banking is pleased to announce a $2 million growth capital financing for Toronto-based Blue J Legal ("Blue J"), a machine learning and AI-powered predictive legal software platform that specializes in North American tax law and Canadian employment law. The growth capital will be used to support Blue J’s continued product diversification and geographic expansion efforts.