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Canadian Bank of Commerce ( (TSE:CM) ) has issued an update.
CIBC is issuing US$700 million of 6.500% Fixed Rate Reset Limited Recourse Capital Notes Series 9 (NVCC subordinated indebtedness) in a U.S. public offering, with an initial fixed coupon to July 28, 2031, followed by five-year resets at the 5-year U.S. Treasury rate plus 272.7 basis points and a final maturity in 2086. The notes, backed by a limited recourse trust holding newly issued NVCC preferred shares Series 64, are structured to qualify as regulatory capital and may be redeemed starting in 2031 with supervisory approval; CIBC plans to use the proceeds for general corporate purposes including potential redemption of existing capital securities and repayment of other liabilities, reinforcing its capital structure and funding flexibility in U.S. dollar markets.
The most recent analyst rating on (TSE:CM) stock is a Buy with a C$134.00 price target. To see the full list of analyst forecasts on Canadian Bank of Commerce stock, see the TSE:CM Stock Forecast page.
Spark’s Take on TSE:CM Stock
According to Spark, TipRanks’ AI Analyst, TSE:CM is a Outperform.
The overall stock score of 74 reflects strong technical indicators and a positive earnings call, highlighting robust financial performance and growth prospects. However, challenges with high leverage and declining cash flow growth temper the score. The valuation is fair, and the dividend yield adds to the stock’s attractiveness.
To see Spark’s full report on TSE:CM stock, click here.
More about Canadian Bank of Commerce
Canadian Imperial Bank of Commerce (CIBC) is a leading North American financial institution serving 15 million personal, business, public sector and institutional clients. Through its Personal and Business Banking, Commercial Banking and Wealth Management, and Capital Markets divisions, CIBC provides a full suite of financial advice and services via digital platforms and physical locations across Canada, the United States and select international markets.
Average Trading Volume: 2,728,761
Technical Sentiment Signal: Buy
Current Market Cap: C$117.5B
See more data about CM stock on TipRanks’ Stock Analysis page.