Canadian Imperial Bank Of Commerce

Canadian Imperial Bank Of Commerce

CM

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Market Cap$105.13B
Close$

Compare to Similar Companies

P/E RatioDividendsReturn on EquityPrice-to-SalesDebt-to-Equity
Canadian Imperial Bank Of CommerceCanadian Imperial Bank Of Commerce14.82.57%15%1.52.8

Earnings Call Q2 2026

May 28, 2026 - AI Summary

Strong overall quarter; sustained operating leverage - Adjusted EPS: $2.54 (+24% YoY), 8th consecutive quarter of double-digit EPS growth. - Revenues: $8B (+14% YoY), with double-digit growth in each business. - Expenses: +10% YoY, delivering positive operating leverage of ~4% (11th straight quarter). - Return on equity: 16.4% (+250 bps YoY). - Capital strength: CET1 13.6% (ended Q2 at 13.6% even after repurchasing 6.5M shares).
Forward outlook & margin expectations: constructive but “not expect big step-ups” - Management expects H2 revenues to be above last year’s H2, but below very strong H1, subject to a fluid operating environment. - Net interest margin (NIM): guided to stable to gradually positive bias over time, supported by hedging (“tractoring”) and deposit strategy; however: - They did not frame recent large margin expansion as something to model. - Competition remains intense on pricing; deposits/loan mix and seasonality matter. - Mortgage spread contribution appears positive but less tailwind-y than prior periods; still some positive spread expected with positive mortgage role contributions.
Credit: manageable but slightly worse than earlier expectations - Provision for credit losses: $605M in Q2 vs $568M last quarter (higher impaired provisions). - Allowance coverage: ~80 bps (up 1 bp QoQ). - Impaired provisions rose, mainly due to Canadian Personal & Business Banking pressure (write-offs and higher 90+ day delinquencies), partially offset by lower provisions in U.S. Commercial. - Mortgage portfolio: impaired ratio up; they emphasize mortgages are well secured and well provisioned, with low net write-off history. - Guidance for rest of year: Frank said they expect impaired provisions to be broadly in line with H1 levels through H2 (i.e., not a sharp deterioration, but not a clean rebound either).

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$12.54

Current Fair Value

88.9% downside

Overvalued by 88.9% based on the discounted cash flow analysis.

Share Statistics

Market cap$105.13 Billion
Enterprise Value$269.73 Billion
Dividend Yield$2.96 (2.57%)
Earnings per Share$8.62
Beta1.28
Outstanding Shares674,932,000

Return

Return on Equity14.96%ROE
Return on Assets0.85%
Return on Invested Capital1.21%

Valuation & Multiples

P/E Ratio14.83P/E Ratio
PEG64.67PEG
Price to Sales1.45Price to Sales
Price to Book Ratio1.17Price to Book Ratio
Enterprise Value to Revenue5.06
Enterprise Value to EBIT22.29
Enterprise Value to Net Income27
Total Debt to Enterprise0.67
Debt to Equity2.76Debt to Equity

Revenue Sources

No data

Insider Trades

Last Earnings Call

Report Date
June 4, 2026
EPS Estimate
$1.78
Average shareholder expectation
Revenue Estimate
$5.66 B
Average shareholder expectation

Next Earnings Call

Expected Date
August 27, 2026
EPS Estimate
$1.79
Average shareholder expectation
Revenue Estimate
$5.75 B
Average shareholder expectation

Institutional Put/Call Ratio

Market sentiment based on institutional option activity.

Put/Call Ratio1.1994 38.01%
Total Calls8,463,700 11.13%
Total Puts10,151,600 32.52%

Institutional Ownership

Holdings and activity of institutional investors.

Ownership %62.83% 18.75%
Total Invested$40.45B 2.00%
Investors Holding545 3.00%

ESG Score

No data

About Canadian Imperial Bank Of Commerce

CEO: Victor Dodig

Relevant Senate Committees

Joint Committee on Taxation

This non-partisan committee provides the official revenue estimates and technical analysis for all tax legislation. Its reports and expertise directly influence corporate tax structures, capital investment credits, and the overall tax burden on financial markets and industries, making it highly relevant for a commercial bank's financial planning and profitability.

Finance

This is one of the most powerful economic committees, controlling taxation, trade, and entitlement spending. Its decisions on corporate tax policy directly impact a commercial bank's profitability and capital allocation, making it a critical source of regulatory influence and potentially material non-public information regarding future tax burdens and financial regulations.

Agriculture, Nutrition, and Forestry

This committee oversees the CFTC, which regulates the massive derivatives/futures market where commercial banks are major participants. Furthermore, its role in defining cryptocurrencies as digital commodities has direct and significant implications for banks' involvement in digital assets and financial innovation.

Banking, Housing, and Urban Affairs

This is the primary committee regulating the entire U.S. financial system, including the Federal Reserve and the SEC. It directly impacts bank capital requirements, cryptocurrency regulation, and real estate markets, all of which are core to a commercial bank's business and regulatory environment. Members would possess direct, non-public material information.

Budget

This committee drafts the budget resolution, influencing the macroeconomic environment, interest rates, and sovereign debt levels. These factors are critically important for commercial banks, affecting lending, investment, and asset valuations. Members would have early insight into fiscal policy direction.

Select Committee on Intelligence

Committee members receive classified briefings on global threats, which can include economic instability, cybersecurity risks, and geopolitical events. Such information could be highly material for a large commercial bank's risk management, investment decisions, and overall financial stability, creating significant informational asymmetry.

Foreign Relations

As a Canadian bank with international operations (including in the U.S.), CM is directly impacted by U.S. foreign policy, sanctions legislation (e.g., affecting international banking access), and sovereign credit risk. Committee members would possess highly material non-public information regarding geopolitical stability and economic restrictions that affect global financial markets and international banking.