|Bid||0.00 x 900|
|Ask||0.00 x 800|
|Day's range||92.91 - 95.59|
|52-week range||46.45 - 95.59|
|Beta (5Y monthly)||0.99|
|PE ratio (TTM)||10.69|
|Forward dividend & yield||4.56 (4.83%)|
|Ex-dividend date||28 Dec 2020|
|1y target est||98.97|
Following Victor, Hratch Panossian, our Chief Financial Officer, will review our operating results. When we get to the Q&A to ensure we allow enough time for everyone to participate, I ask that you please limit your questions and requeue.
(Bloomberg) -- Canadian Imperial Bank of Commerce posted fiscal first-quarter profit that topped analysts’ estimates as its domestic retail-banking unit continued to rebound.Canada’s fifth-largest lender by assets said profit in its Canadian personal and business banking unit rose 13% to C$652 million ($522 million) in the three months through January. The gain was driven by lower provisions for loan losses.Key InsightsCIBC’s earnings got a lift from a decline in set-asides for potentially souring loans. The bank reported C$147 million in provisions for credit losses last quarter, compared with C$291 million in the fourth quarter.Because of its heavy domestic focus, CIBC’s residential-mortgage business has been a particular focus for investors. The bank’s mortgage portfolio increased 2.5% from the fourth quarter, reaching C$226.6 billion. That compares with a 2.2% quarter-over-quarter gain in the previous three months.CIBC’s capital-markets division has benefited from strong trading activity and demand for underwriting services. Profit in the unit rose 30% to C$493 million in the first quarter as a result of higher revenue from fixed-income, equities and currencies trading.Market ReactionCIBC shares have gained 8.4% this year, compared with a 9.4% advance for the S&P/TSX Commercial Banks Index.Get MoreNet income rose 34% to C$1.63 billion, or C$3.55 a share. Excluding some items, profit was C$3.58 a share. Analysts estimated C$2.81, on average.Click here for more on CIBC’s first-quarter results.For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2021 Bloomberg L.P.
CIBC (TSX: CM) NYSE: CM) today announced it has joined RMI's Center for Climate-Aligned Finance (the Center) as a Strategic Partner and the first Canadian bank to announce its partnership in the Center's efforts to develop the agreements and tools necessary to align financial decision-making with the long-term decarbonization of the real economy.