CM Canadian Imperial Bank of Commerce Common Stock

NYSE · Banking
$113.90
Price · Jul 2, 2026
52W Range
$71–$117
93% of range
Analyst Rating
BUY
23 analysts
Price Target
$109
P/E (TTM)
—
ROE
—
Net Profit Margin
—

CM Stock Snapshot Price, market cap, P/E, EPS, ROE, debt/equity, 52-week range

Price
$113.90
Market Cap
—
P/E (TTM)
—
EPS (TTM)
—
Revenue (TTM)
—
Div Yield
—
ROE
—
Debt/Equity
—
52W Range
$71 – $117

CM Stock Price Chart Daily OHLCV with technical indicators — pan, zoom, and customize your view

10-Year Performance Revenue, net income, margins and EPS trends

Revenue & Net Income —
EPS —
Free Cash Flow —
Margins —

Valuation P/E, P/S, P/B, EV/EBITDA ratios — is the stock expensive or cheap?

Metric
5Y trend
CM
Peer Median

Profitability Gross, operating and net margins; ROE, ROA, ROIC

Metric
5Y trend
CM
Peer Median

Financial Health Debt, liquidity, solvency — balance sheet strength

Metric
5Y trend
CM
Peer Median

Growth Revenue, EPS and net income growth: YoY, 3Y CAGR, 5Y CAGR

Metric
5Y trend
CM
Peer Median

Per Share Metrics EPS, book value per share, cash flow per share, dividend per share

Metric
5Y trend
CM
Peer Median

Capital Efficiency Asset turnover, inventory turnover, receivables turnover

Metric
5Y trend
CM
Peer Median

Dividends Yield, payout ratio, dividend history, 5Y CAGR

Dividend Yield
—
Payout Ratio
—
5Y Div CAGR
—
Ex-dateAmount
June 29, 2026$0.7540
March 27, 2026$0.7720
June 27, 2025$0.7110
March 28, 2025$0.6780
Dec. 27, 2024$0.6730
Sept. 27, 2024$0.6680
June 28, 2024$0.6570
March 27, 2024$0.6630
Dec. 27, 2023$0.6820
Sept. 27, 2023$0.6440
June 27, 2023$0.6620
March 27, 2023$0.6180
Dec. 23, 2022$0.6230
Sept. 27, 2022$0.6040
June 27, 2022$0.6440
March 25, 2022$0.6430
Sept. 27, 2021$0.5770
June 25, 2021$0.5925
March 26, 2021$0.5790
Dec. 24, 2020$0.5680

CM Analyst Consensus Bullish and bearish analyst opinions, 12-month price target, upside

BUY 23 analysts
  • Strong Buy 5 21.7%
  • Buy 11 47.8%
  • Hold 7 30.4%
  • Sell 0 0.0%
  • Strong Sell 0 0.0%

12-Month Price Target

3 analysts · 2026-07-05
Median target $112.94 -0.8%
Mean target $109.40 -4.0%

Earnings History EPS actual vs estimate, surprise %, beat rate, next earnings date

Avg Surprise
0.12%
Period EPS Actual EPS Est Surprise
June 30, 2026 $2.54 $2.51 0.03%
March 31, 2026 $2.76 $2.47 0.29%
Dec. 31, 2025 $2.21 $2.15 0.06%
Sept. 30, 2025 $2.16 $2.06 0.10%
June 30, 2025 $2.05 $1.95 0.10%

CM AI Analyst Panel — Bullish and Bearish Views 2026Q2 debate: Claude, Grok, Gemini, ChatGPT on the stock's prospects

Round 1 — Opening Takes

Grok NEUTRAL 0.70
↑ Bullish

I see the strongest bull case for CM as a reliable dividend payer with quickening profitability in a steady banking environment. ROE TTM has risen to 14.76%, meaning the bank is generating solid returns on capital that support payouts and resilience against mild slowdowns. EPS TTM hits nearly $10 per share, fueling potential for 5-7% dividend growth if trends hold. The stock has rallied 20% from April lows to $73, showing investor confidence without overstretching.

↓ Bearish

My read on the bear case is CM's high leverage exposing it to rate cuts or credit stress that could squeeze margins. Debt-to-equity lingers around 2.7, amplifying any uptick in loan losses and limiting flexibility versus less leveraged peers. P/B stays flat at 1.68 despite the price run, indicating skepticism about book value growth in a softening economy. Market cap dipped to $131 billion from $137 billion prior quarter, hinting at fading momentum.

Claude NEUTRAL 0.62
↑ Bullish

Canadian Imperial is trading at a valuation that assumes mediocrity, but the bank is actually generating real returns on equity. At a 14.0 P/E trailing, you're paying just fourteen times earnings for a business throwing off a 14.8% ROE — that's a respectable return on shareholder capital for a mature financial institution. The stock has climbed from $58 in late April to $73 in early July, a 26% move in twelve weeks, which suggests the market is finally pricing in that this isn't a value trap. If net margins hold above 20%, this bank has pricing power in its core lending and deposit franchises that most investors are still sleeping on.

↓ Bearish

The real problem is leverage, not earnings. CM carries a 2.69 debt-to-equity ratio as of last quarter, which means the bank is borrowing nearly three dollars for every dollar of shareholder capital. That amplifies returns in good times but becomes a liability fast if credit cycles turn or deposit funding tightens. The stock has already rallied 26% in three months, so much of the repricing may be done. More concerning: market cap fell from $136.6 billion in Q1 to $131.2 billion now, a 4% drop despite the stock price rising — that's a red flag on share dilution or valuation compression that deserves scrutiny. At 1.68 price-to-book, you're paying a premium to book value for a business that can't escape the commodity dynamics of Canadian retail banking.

Gemini NEUTRAL 0.75
↑ Bullish

CIBC is demonstrating a powerful ability to generate consistent returns for its shareholders despite a challenging macro environment. The bank is posting a 14.76% return on equity. This means for every dollar of shareholder capital, the company is effectively generating nearly 15 cents in profit, signaling high operational efficiency. Furthermore, the net profit margin sits at 20.71%. This indicates that over one-fifth of every dollar in revenue is successfully converted into bottom-line earnings, providing a solid buffer for the bank to navigate potential loan losses while maintaining its dividend commitments to investors.

↓ Bearish

The market is increasingly pricing in a premium for CM that may not be fully supported by its current growth trajectory. The price-to-earnings ratio has climbed to 14.02. This suggests investors are paying more today for each dollar of earnings than they were in previous quarters, which limits the potential for further multiple expansion. Additionally, the stock has rallied significantly to its current $73 level over the last year. This rapid price appreciation leaves the shares vulnerable to a correction if the Canadian housing market or interest rate environment creates unexpected headwinds for the bank's loan book.

Chatgpt NEUTRAL 0.62
↑ Bullish

CM looks like a durable, well-priced Canadian bank with room to run. P/E TTM: 14.0. That suggests CM trades at a reasonable multiple for a bank with solid earnings power, leaving room for multiple expansion if earnings stay on trend. ROE TTM: 14.8%. That level shows CM uses capital efficiently and generates solid profits, supporting upside if earnings compound. Net margin TTM: 20.7%. A high margin signals durable profitability and a cushion if rates shift, helping earnings stability.

↓ Bearish

CM could come under pressure if credit losses rise or net interest margins compress in a weaker rate environment. Debt/Equity quarterly: 2.69x (2026Q1). That leverage means any deterioration in credit costs can hit profitability more than for peers with lower leverage. P/B annual: 1.68. A modest premium to book suggests expectations are baked in; a weaker cycle could compress book value and sentiment. Net margin TTM: 20.7%. That cushion can shrink if provisions rise or loan growth slows, reducing earnings resilience.

Round 2 — Responses & Rebuttals

Grok

Claude, your claim that the 26% rally means much repricing is done ignores the persistent valuation discount to ROE. A 14x P/E for 14.8% returns on equity means you're buying efficient capital use cheaply, leaving room for multiple expansion if EPS keeps climbing toward $10. That's why I see buy potential into 2026Q2, not a topped-out move.

Claude

I need to push back on Grok's confidence here. You're citing the 14.76% ROE and $10 EPS as evidence of 'quickening profitability,' but the data shows the opposite trend. ROE was 13.31% in Q3, then 13.5% in Q4, then 14.76% now — that's a climb, yes, but it's happening while market cap fell 4% quarter-over-quarter despite stock price rising. That's not quickening momentum; that's multiple compression masking deteriorating per-share value. The dividend math only works if earnings actually grow, not just if leverage pumps the ratio higher. I'm not convinced the 5-7% dividend growth thesis holds if the underlying book value per share is contracting.

Gemini

Claude, your point about the market cap decline is the most critical red flag in this entire discussion. You noted that the market cap fell from $136.6 billion to $131.2 billion despite the stock price rising, which is a 4% contraction in total valuation. This divergence suggests that the recent price action is being driven by thinner liquidity or aggressive buybacks rather than fundamental growth, signaling that the rally may be structurally fragile. I agree with your assessment that we are likely seeing valuation compression disguised by a rising share price.

Chatgpt

Claude, your point about leverage is important, but CM's ROE signal suggests a different risk picture. CM's ROE is about 14.8%. That level means CM is turning capital into profits efficiently, which cushions earnings against loan losses and supports stability. The stock has bounced higher on momentum lately, but the profitability and quality of earnings should anchor any rerate, not market fads.

Round 3 — Final Rebuttals

G
Grok

Claude, I need to challenge your claim that the market cap drop signals share dilution. With shares trading up to $73 from around $68 at the end of Q1, the 4% market cap decline from $137 billion to $131 billion actually points to fewer shares outstanding — that's buybacks shrinking the float, not dilution. Buybacks here amplify EPS growth toward $10 and reinforce the dividend case into 2026Q2, not a red flag.

C
Claude

I want to push back on ChatGPT's framing here, because it glosses over the leverage trap. ChatGPT says a 14.8% ROE cushions earnings against loan losses — but that ROE is already inflated by a 2.69x debt-to-equity ratio. That means CM is borrowing aggressively to juice returns on a shrinking equity base. If provisions rise even modestly in a credit downturn, that leverage works in reverse: the same 2.69x multiplier amplifies losses, not profits. ChatGPT is treating ROE as a sign of safety when it's actually a sign of risk concentration. The real question isn't whether CM generates 14.8% returns today — it's whether those returns survive the next cycle when deposit funding tightens or loan losses spike. That's where the leverage becomes a liability, not a cushion.

G
Gemini

Grok, I have to challenge your assertion that a 14x P/E is 'buying efficient capital use cheaply' given the current macro regime. The Bank of Canada’s recent focus on cooling the domestic housing market creates a massive headwind for CM’s loan growth. With 14.02 times trailing earnings, the market is pricing in a 'soft landing' scenario that ignores the systemic risk of high household debt in Canada. If the central bank keeps rates restrictive to combat inflation, CM’s net interest margin will likely compress. We aren't just looking at a valuation exercise; we are looking at a fundamental shift in the Canadian credit cycle.

C
Chatgpt

Claude, I'm widening the frame to macro and regulatory forces that can move CM's price in 2026Q2, beyond pure ratios. Canadian banks sit under OSFI oversight and Basel III rules, so changes to capital requirements or loss-absorption buffers could compress or liberate earnings even if loan growth stays steady. A Canadian housing slowdown and weaker mortgage renewals would test CM's sensitivity to credit risk and funding, regardless of reported margins. Meanwhile, policy signals on rate trajectory from the Bank of Canada and global risk sentiment can re-rate CM's multiple independent of quarterly results.

Price Forecasts

Model 3M Target 6M Target Reasoning
G Grok 3M Target $78.00 6M Target $85.00 Reasoning I see CM climbing on buyback-driven EPS growth and a persistent ROE discount that leaves room for multiple expansion into 2026Q2. The key catalyst is the Q3 2025 earnings release in late August, where stable net margins above 20% should confirm EPS nearing $10 and spark fresh buying. One big risk is Bank of Canada rate cuts triggering higher loan loss provisions, squeezing the 20.7% net margin. Current 14x P/E means you're paying modestly for 14.8% ROE, which for CM signals undervalued capital efficiency versus peers and supports 15% upside.
C Claude 3M Target $68.50 6M Target $71.00 Reasoning CM is a leverage-amplified play on Canadian credit stability, not a growth story — and the market is already pricing in a soft landing that I don't think holds. The 14.8% ROE is real but inflated by 2.69x debt-to-equity; if loan-loss provisions spike even 15–20 basis points in a housing slowdown, that leverage reverses fast. My catalyst: Q3 2025 earnings in late October will reveal whether net interest margins are compressing and provisions are rising as the Bank of Canada keeps rates higher for longer. My risk: a surprise rate cut cycle in late 2025 re-rates the multiple upward and breaks this thesis entirely. At 14.0x P/E on $10 EPS, you're paying for stability that doesn't exist if credit cycles turn. I see 68.50 in three months (pullback to support) and 71.00 in six months (modest recovery if provisions hold steady), but the 26% rally from April is done.
G Gemini 3M Target $68.50 6M Target $65.00 Reasoning My thesis is that CM’s recent rally is disconnected from the deteriorating Canadian credit cycle, making the stock vulnerable to a necessary valuation correction. The primary catalyst for a downside move will be the 2026Q3 earnings report, where I expect rising provision for credit losses to finally offset the gains from aggressive share buybacks. A significant risk is a sudden pivot by the Bank of Canada toward aggressive rate cuts, which would compress net interest margins further. The current 14.02 P/E ratio is expensive for a bank facing stagnant loan growth, as it forces investors to pay a premium for earnings that are increasingly sensitive to domestic housing volatility.
C Chatgpt 3M Target $63.00 6M Target $66.00 Reasoning I think CM has modest upside into 3–6 months thanks to a durable ROE and a reasonable valuation. The concrete catalyst is CM's next quarterly earnings report, where a stable ROE in the mid-teens and steady NIM could re-rate the stock. The risk is a sharper housing downturn or funding pressure that triggers higher loan losses and pressure on margins. ROE is 14.8%. That means CM is efficiently turning capital into profits, which supports dividends and potential multiple expansion if earnings stay on trend.

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