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United States

Canadian Imperial Bank of Commerce (CM)

CM on New York Consolidated

88.96USD
17 Feb 2017
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Latest Key Developments (Source: Significant Developments)

Piper Jaffray, CIBC enter exclusive equity research distribution agreement
Monday, 5 Dec 2016 06:00am EST 

Piper Jaffray Companies : Piper Jaffray and CIBC enter into exclusive equity research distribution agreement .Exclusive distribution agreement is effective as of December 5, 2016.  Full Article

Alpine Associates Management intends to vote against Privatebancorp's proposed acquisition by CIBC
Friday, 2 Dec 2016 02:38pm EST 

Alpine Associates Management Inc : Alpine Associates Management Inc- intends to vote against Privatebancorp's proposed stock and cash acquisition by CIBC . Alpine Associates Management Inc- hold approximately 1.5 million shares of Privatebancorp, Inc. . Alpine Associates - "since U.S. Presidential election, it is clear that fundamental backdrop for regional banking industry has dramatically improved" .Alpine Associates-believe "fair-minded view" of Privatebancorp's valuation suggests standalone value is equal to/higher than price offered by CIBC.  Full Article

Glazer Capital issues open letter to shareholders of PrivateBancorp Inc
Thursday, 1 Dec 2016 09:18am EST 

PrivateBancorp Inc - : Glazer Capital LLC issues open letter to shareholders of PrivateBancorp Inc . Issued open letter to PrivateBancorp shareholders detailing reasons for rejecting proposed acquisition of PrivateBancorp by CIBC .Glazer Capital says merger with CIBC would prevent PrivateBancorp's shareholders from realizing benefits of recent surge in regional bank valuations.  Full Article

CIBC increases dividend
Thursday, 1 Dec 2016 06:00am EST 

CIBC - : CIBC increases dividends . Sets dividend of C$1.24per share .Dividend for quarter ending January 31, 2017 is an increase of three cents from previous quarter.  Full Article

CIBC reports Q4 earnings per share C$2.32
Thursday, 1 Dec 2016 05:58am EST 

Canadian Imperial Bank Of Commerce - : CIBC announces fourth quarter and fiscal 2016 results . Q4 adjusted earnings per share C$2.60 . Q4 earnings per share C$2.32 . Q4 earnings per share view C$2.48 -- Thomson Reuters I/B/E/S . Announced a quarterly dividend increase of three cents to $1.24 per common share .Quarterly net interest income $2.1 million versus $2.0 million.  Full Article

CIBC adds 2 companies to oil & gas watch list in Q3: chief risk officer
Thursday, 25 Aug 2016 08:26am EDT 

Canadian Imperial Bank Of Commerce : Says direct exposure to oil and gas sector up in the quarter: chief risk officer .Says 2 companies added to oil and gas watch list in the quarter: chief risk officer.  Full Article

CIBC announces elections under shareholder investment plan
Thursday, 25 Aug 2016 05:52am EDT 

Canadian Imperial Bank Of Commerce : Says announced elections under CIBC shareholder investment plan . Says offers dividend reinvestment option for Canadian residents and stock dividend option for U.S. residents . Entitled to determine whether common shares for plan are purchased in secondary market or issued from treasury .Common shares issued on and after Oct 28 under dividend reinvestment option and stock dividend option will be issued at 2 pct discount.  Full Article

CIBC posts Q3 adj. earnings per share C$2.67
Thursday, 25 Aug 2016 05:50am EDT 

Canadian Imperial Bank Of Commerce : CIBC announces third quarter 2016 results . Q3 adjusted earnings per share C$2.67 . Q3 earnings per share C$3.61 . Q3 earnings per share view C$2.35 -- Thomson Reuters I/B/E/S . At July 31, 2016, CIBC's Basel III common equity tier 1, Tier 1 and total capital ratios were 10.9 pct, 12.4 pct and 14.4 pct, respectively .Says CIBC's Basel III leverage ratio at July 31, 2016 was 3.9 pct on an all-in basis.  Full Article

CIBC CEO says US banking business to contribute 10 pct of net income in short term
Wednesday, 29 Jun 2016 09:08am EDT 

Canadian Imperial Bank Of Commerce , PrivateBancorp Inc : CIBC says plans to follow through on plan to raise dividend payout ratio to top in the 40 -50 percent target range - conference call . CIBC CEO says U.S. banking business will contribute 10 pct of net income in short term, 25 pct over time . CIBC CFO says integration costs from PrivateBancorp takeover of between $130-$150 million . CIBC CEO says made decision to work towards acquisition 6 to 8 months ago Further company coverage: [CM.TO] [PVTB.O] (Bengaluru Newsroom: +1-646-223-8780).  Full Article

CIBC to acquire PrivateBancorp Inc
Wednesday, 29 Jun 2016 06:19am EDT 

Canadian Imperial Bank Of Commerce : CIBC to acquire PrivateBancorp Inc . CIBC will pay US$18.80 in cash and 0.3657 of a CIBC common share for each share of PrivateBancorp common stock . Transaction is expected to be accretive to CIBC's adjusted earnings per share in year 3 . Says total transaction value is approximately us$3.8 billion ( C$4.9 billion ) . Canadian Imperial Bank of Commerce says expects to maintain a common equity tier (CET) 1 ratio at closing of at least 10 per cent . Transaction will significantly expand CIBC's reach in North America . Canadian Imperial Bank of Commerce says PrivateBancorp will remain headquartered in Chicago and retain its Illinois state banking charter . Says total transaction value is about US$47.00 of value per share of PrivateBancorp common stock . Canadian Imperial Bank of Commerce says anticipates completing transaction during first calendar quarter of 2017 .Larry Richman will remain president and CEO of PrivateBancorp and PrivateBank.  Full Article

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