Canadian Imperial Bank of Commerce (NYSE:CM) Shares Down 5.3% – Here’s What Happened

Shares of Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) were down 5.3% on Thursday . The stock traded as low as $109.05 and last traded at $109.2640. Approximately 900,963 shares traded hands during mid-day trading, a decline of 28% from the average daily volume of 1,252,684 shares. The stock had previously closed at $115.43.

More Canadian Imperial Bank of Commerce News

Here are the key news stories impacting Canadian Imperial Bank of Commerce this week:

• Positive Sentiment: CIBC reported Q2 2026 earnings that beat analyst expectations, with EPS and revenue both ahead of forecasts and revenue up double digits year over year, reinforcing the view that core banking activity and trading income remain solid. CIBC earnings report
• Positive Sentiment: The bank announced a new normal course issuer bid to repurchase up to 30 million shares, a shareholder-friendly move that can support earnings per share and signals management confidence in the stock. CIBC buyback plan
• Positive Sentiment: CIBC also declared its quarterly common and preferred share dividends, reinforcing its capital strength and ongoing return of cash to investors. CIBC dividend declaration
• Positive Sentiment: The company said it will sell its Caribbean business for about $1.6 billion to $1.8 billion, a move aimed at sharpening its focus on North American growth and potentially freeing up capital for higher-return uses. WSJ Caribbean sale
• Neutral Sentiment: CIBC also announced senior executive leadership changes, which management says are intended to improve collaboration and execution, but these changes are unlikely to move the stock by themselves. Leadership changes announcement

Analysts Set New Price Targets

Several research analysts have recently weighed in on CM shares. Weiss Ratings upgraded shares of Canadian Imperial Bank of Commerce from a “buy (b+)” rating to a “buy (a-)” rating in a research note on Friday, May 22nd. Zacks Research downgraded shares of Canadian Imperial Bank of Commerce from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, April 28th. Scotiabank restated an “outperform” rating on shares of Canadian Imperial Bank of Commerce in a research note on Monday, May 4th. Raymond James Financial reaffirmed a “market perform” rating on shares of Canadian Imperial Bank of Commerce in a report on Tuesday, May 12th. Finally, Barclays raised shares of Canadian Imperial Bank of Commerce from an “underweight” rating to an “overweight” rating in a report on Thursday, February 19th. One investment analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $107.50.

Canadian Imperial Bank of Commerce Trading Down 5.1%

The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.02 and a current ratio of 1.02. The company has a market cap of $100.62 billion, a P/E ratio of 15.98, a P/E/G ratio of 1.21 and a beta of 1.05. The business has a fifty day simple moving average of $105.46 and a 200 day simple moving average of $97.19.

Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) last issued its quarterly earnings results on Thursday, February 26th. The bank reported $1.99 earnings per share for the quarter, beating analysts’ consensus estimates of $1.74 by $0.25. Canadian Imperial Bank of Commerce had a return on equity of 15.69% and a net margin of 15.15%.The business had revenue of $6.16 billion during the quarter, compared to the consensus estimate of $5.53 billion. During the same period in the previous year, the business earned $2.20 EPS. The business’s quarterly revenue was up 15.3% on a year-over-year basis. Analysts anticipate that Canadian Imperial Bank of Commerce will post 7.48 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Canadian Imperial Bank of Commerce

A number of institutional investors have recently modified their holdings of the business. Bank of America Corp DE boosted its stake in Canadian Imperial Bank of Commerce by 0.5% in the first quarter. Bank of America Corp DE now owns 2,726,487 shares of the bank’s stock valued at $258,335,000 after acquiring an additional 13,250 shares during the period. Janus Henderson Group PLC grew its holdings in shares of Canadian Imperial Bank of Commerce by 9.5% during the first quarter. Janus Henderson Group PLC now owns 214,595 shares of the bank’s stock valued at $20,303,000 after purchasing an additional 18,625 shares during the last quarter. Smith Group Asset Management LLC grew its holdings in shares of Canadian Imperial Bank of Commerce by 4.9% during the first quarter. Smith Group Asset Management LLC now owns 88,020 shares of the bank’s stock valued at $8,340,000 after purchasing an additional 4,080 shares during the last quarter. Amundi grew its holdings in shares of Canadian Imperial Bank of Commerce by 25.7% during the first quarter. Amundi now owns 3,045,890 shares of the bank’s stock valued at $288,815,000 after purchasing an additional 623,585 shares during the last quarter. Finally, EverSource Wealth Advisors LLC grew its holdings in shares of Canadian Imperial Bank of Commerce by 23.9% during the first quarter. EverSource Wealth Advisors LLC now owns 3,132 shares of the bank’s stock valued at $297,000 after purchasing an additional 605 shares during the last quarter. Institutional investors own 49.88% of the company’s stock.

About Canadian Imperial Bank of Commerce

Canadian Imperial Bank of Commerce (NYSE: CM), commonly known as CIBC, is a major Canadian financial institution headquartered in Toronto. Formed in 1961 through the merger of the Canadian Bank of Commerce and the Imperial Bank of Canada, CIBC is one of Canada’s largest banks and provides a broad range of banking and financial services to retail, small business, commercial and institutional clients.

CIBC’s activities span personal and business banking, wealth management, capital markets and corporate banking.