|Over a month ago|
CIBC price target raised to C$97 from C$93 at Scotiabank » 12:4306/0106/01/20
Scotiabank analyst Sumit…
Scotiabank analyst Sumit Malhotra raised the firm's price target on CIBC to C$97 from C$93 and keeps a Sector Perform rating on the shares following the company's Q2 earnings report.
CIBC price target raised to C$95 from C$86 at RBC Capital » 11:4205/2905/29/20
RBC Capital analyst Darko…
RBC Capital analyst Darko Mihelic raised the firm's price target on CIBC to C$95 from C$86 and keeps a Sector Perform rating on the shares following the company's Q2 earnings results, which the analyst called "a move in the right (conservative) direction."
CIBC reports Q2 adj. EPS C$0.95 vs. C$2.97 last year » 05:5805/2805/28/20
Reports Q2 CET1 ratio…
Reports Q2 CET1 ratio 11.3%. "The investments we have made over the past several years have positioned us well to respond to the current situation as we support our clients, employees and communities," said Victor Dodig, CIBC President and CEO. "Our capital position remains strong, giving us flexibility and resilience as we navigate the current environment and continue to advance our long-term client-focused strategy. This will enable us to further diversify revenue streams, deepen client relationships and improve our efficiency as we continue to deliver value to our shareholders."
CIBC price target lowered to C$93 from C$98 at Scotiabank » 10:4405/2205/22/20
Scotiabank analyst Sumit…
Scotiabank analyst Sumit Malhotra lowered the firm's price target on CIBC to C$93 from C$98 and keeps a Sector Perform rating on the shares.
CIBC upgraded to Buy from Neutral at Citi » 06:3005/0605/06/20
Citi analyst Maria…
Citi analyst Maria Semikhatova upgraded CIBC to Buy from Neutral with a price target of C$93, down from C$113. Given its exposure to high risk sectors and non-mortgage retail loans, CIBC appears best positioned in the Canadian Bank space, Semikhatova tells investors in a research note. The analyst sees the stock as attractively valued.
|Over a quarter ago|
CIBC announces measures to support U.S. clients impacted by COVID-19 » 09:0703/2303/23/20
CIBC announced immediate…
CIBC announced immediate measures to help ease financial hardship for CIBC Bank USA clients as a result of the COVID-19 pandemic as well as a long-term commitment to help with recovery efforts.Beginning immediately, CIBC is offering proactive, focused solutions to help reduce the financial pressure being felt by our clients, including but not limited to: Consumer Loan Payment Deferral. CIBC Bank USA will offer qualifying consumer clients experiencing financial hardship due to COVID-19 an option to suspend their next four monthly payments of principal and interest with no credit bureau impact. Qualifying consumers with quarterly payment schedules will have an option to defer payments for 120 days with no credit bureau impact. To request this program, consumers should call the CIBC US Client Support Center at 877-448-6500. Small Business Loan Payment Deferral. CIBC Bank USA will offer qualifying small business clients experiencing business disruption due to COVID-19 the ability to defer their next four principal and interest payments with no credit bureau impact. Clients should call their relationship manager to request this assistance. Economic Hardship Loan. CIBC Bank USA offers existing consumer clients experiencing personal financial hardship as a result of the COVID-19 pandemic the ability to apply for an Economic Hardship Loan of up to $10,000 with no payments for 90 days and no interest for the life of the loan, up to 24 months. Clients should call the Client Support Center at 877-448-6500 to begin the application. CIBC also announced a $2B, two-year commitment to support businesses, consumers and its partners.
CIBC upgraded to Action List Buy from Hold at TD Securities » 07:3103/2003/20/20
TD Securities analyst…
TD Securities analyst Mario Mendonca upgraded CIBC to Action List Buy from Hold with a C$105 price target.
CIBC announces extended assistance for small business owners » 18:1603/1903/19/20
CIBC announced extended…
CIBC announced extended assistance and support measures to help ease financial hardship for small businesses as a result of COVID19 disruption. Beginning today, CIBC will offer solutions to help reduce the financial pressure being felt by Canadian small business owners, including but not limited to: Payment deferrals based on clients' individual small business circumstances; the establishment of an expanded and dedicated call centre team staffed by small business lending experts who are ready to assist small businesses with payment deferral and other measures, and; increased advice and support of small business clients' immediate cash management or new lending needs.
CIBC closing some U.S. offices, limiting others to drive-up only » 10:5103/1903/19/20
CIBC announced it has…
CIBC announced it has implemented new proactive, precautionary measures in its U.S. Banking Centers to support public health efforts to manage the spread and flatten the curve of COVID-19, while continuing to provide full banking services to our clients. Effective immediately, we are temporarily closing some offices, limiting others to drive-up only and reducing lobby hours at those remaining open. All of its CIBC ATMs, online banking, mobile banking and telephone banking services remain available, the company noted. Brant Ahrens, President, US Retail and Digital Banking said: "CIBC also recognizes the current situation may create financial hardship for our clients. We encourage our clients to call us to discuss options that may be available to them."
Canadian banks to provide financial relief for Canadians amid COVID-19 pandemic » 19:1903/1703/17/20
BMO, CM, NTIOF, RY, BNS, TD
Canada's six largest…
Canada's six largest banks announced plans to provide financial relief to Canadians impacted by the economic consequences of COVID-19. Effective immediately, Bank of Montreal (BMO), CIBC (CM), National Bank of Canada (NTIOF), RBC Royal Bank (RY), Scotiabank (BNS) and TD Bank (TD) have made a commitment to work with personal and small business banking customers on a case-by-case basis to provide flexible solutions to help them manage through challenges such as pay disruption due to COVID-19; childcare disruption due to school closures; or those facing illness from COVID-19. This support will include up to a six-month payment deferral for mortgages, and the opportunity for relief on other credit products. Individual Canadians or business owners facing hardship are encouraged to contact their bank directly to discuss options that could be available to them.