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JPMorgan Chase & Co. increased its stake in Canadian Imperial Bank of Commerce (NYSE:CM) by 37.3%, owning over 8 million shares valued at approximately $508 million. The bank has a Moderate Buy rating, with analysts suggesting better investment options, while its stock recently dipped 2% to $56.16. The company declared a quarterly dividend of $0.6723, yielding 4.79%, with a payout ratio of 48.03%.
Zenith Energy has expanded its lender line-up by securing deals with Deutsche Bank, MUFG, Société Générale, Royal Bank of Canada, Bank of China, Canadian Imperial Bank of Commerce, and Export Finance Australia. With nearly $4 billion in assets under management, executives indicate they are in advanced stages on several investments.
Canadian Imperial Bank of Commerce (TSE:CM) serves around 11 million customers in Canada and has received mixed analyst ratings, with a "Moderate Buy" consensus and a target price of C$94.58. Recent reports show price targets from UBS Group and others, with the stock trading at C$88.23, down from a high of C$95.50. Insider transactions indicate significant share sales, with corporate insiders owning only 0.02% of the stock.
Canadian Imperial Bank of Commerce (TSE:CM) received a target price increase from UBS Group, now set at C$102.00, indicating an 8.28% potential upside. Despite a "Moderate Buy" rating, top analysts favor five other stocks over CIBC. Insider selling activity has been noted, with significant shares sold recently.
Canadian Imperial Bank of Commerce (TSE:CM) received a target price increase from UBS Group, now set at C$102.00, indicating an 8.28% potential upside. Analysts maintain a "Moderate Buy" rating, with a consensus target of C$92.67, while insider selling has been noted recently. The stock's performance shows a 52-week range between C$59.53 and C$95.50, with a current price of C$94.20.
The Canadian Imperial Bank of Commerce, a major financial institution in Canada, serves over 14 million clients, including individuals, businesses, and institutional customers globally. It operates through four strategic business units: Canadian Personal and Business Banking, Canadian Commercial Banking and Wealth Management, U.S. Commercial Banking and Wealth Management, and Capital Markets and Direct Financial Services. These units provide a range of financial services, from personal banking to wealth management for both private and institutional clients.
UBS Group AG's involvement in a $300 million debt swap for Barbados diminished after the departure of senior banker Ramzi Issa, who had specialized in such transactions. The deal, aimed at refinancing local debt to fund improvements in water and sewage systems, is now being reconsidered with a potential smaller role for UBS in the new year. The transaction, backed by two multilateral lenders, focuses on local-currency debt, limiting its appeal to global banks.
UBS Group AG's involvement in a $300 million debt swap for Barbados diminished after the departure of senior banker Ramzi Issa, who had specialized in such transactions. The deal, aimed at refinancing local debt to fund improvements in water and sewage systems, is now being reconsidered with UBS exploring a smaller $50 million role. The transaction, backed by two multilateral lenders, focuses on local-currency debt, limiting its appeal to global banks.
[Bloomberg](https://www.bloomberg.com) and [SEC]
Canada’s six largest banks are set to increase variable compensation for employees in 2024, with an average bonus pool rise of 12.2% compared to the previous year. Notably, Royal Bank of Canada, Canadian Imperial Bank of Commerce, and National Bank of Canada are leading the increases, despite a challenging environment for dealmaking and capital markets.
Canadian Imperial Bank of Commerce
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