Canadian Imperial (CM) Signs Deals to Offload US Office Loans [Yahoo! Finance]
Canadian Imperial Bank of Commerce (CM)
Last canadian imperial bank of commerce earnings: 2/26 05:53 am
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US:NYSE Investor Relations:
cibc.com/en/about-cibc/investor-relations.html
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Source: Yahoo! Finance
Per a Bloomberg report, CM has signed agreements with multiple buyers to divest U.S.-based office loans worth $316 million at a discount. These loans are backed by eight offices located in cities including San Francisco, Seattle, Phoenix and Austin. As the process is private, the company spokesperson declined to comment on the development. CM is slated to announce second-quarter fiscal 2024 results on May 30 and might disclose details related to the sale at that time. In the first quarter of fiscal 2024, Canadian Imperial reported a decline in earnings mainly due to a 98% surge in provision for credit losses. With the operating backdrop turning more challenging since then, the company is likely to record high provisions this time too. Over the past year, shares of Zacks Rank #3 (Hold) company have rallied 18%, underperforming the industry's growth of 21.2%. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here Image Source: Zacks Investment Research
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News
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- Bargain Alert: I've Been Buying Dips in These Canadian Bank Stocks [Yahoo! Finance Canada]Yahoo! Finance Canada
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CM
Earnings
- 5/30/24 - Beat
CM
Sec Filings
- 6/14/24 - Form 424B2
- 6/12/24 - Form 424B2
- 6/12/24 - Form 424B3
- CM's page on the SEC website