Analyst Consensus ?
ConsensusHold15 ratings
Bullish426.7%
Neutral960.0%
Bearish213.3%
Canadian Imperial Bank of Commerce · CM · FY2026 Q2 · Calendar Q2 2026
CIBC pairs a strong quarter with capital redeployment and strategic change
CIBC’s Q2 narrative supports a cautiously constructive view: management is pairing resilient demand and operating initiatives with active capital redeployment. The thesis depends on sustained organic growth, measurable AI and digital productivity gains, and disciplined execution while margins and credit costs remain under pressure.
Reported Before market openNYSEFinancial Services
$103.27B market cap
90quality score
Earnings scorecard
Reported versus consensus
Reported EPS
$1.86
Consensus $1.78
EPS surprise
+4.5%
Reported versus consensus
Reported revenue
$5.89B
Consensus $5.86B
Revenue surprise
+0.6%
Reported versus consensus
Market reaction
prior-close to event-session close
Stock move
-5.1%
Event window
SPY move
+0.6%
Same window
Abnormal move
-5.7%
Stock minus SPY
Volume
2.5×
Versus trailing sessions
Subsequent drift
+3.9%
Up to 20 sessions
CMSPY benchmark
Ask FN2 about CM FY2026 Q2
Transcript, numbers and history already loaded
Why did CM fall 5.1% after beating EPS estimates in FY2026 Q2?What changed in CM's guidance and outlook in FY2026 Q2?Give me the bull and bear case for CM after FY2026 Q2 earnings.
Free account. Your question opens in FN2 with this report's transcript and numbers attached.
Transcript intelligence
What changed
The supplied analysis highlights a new strategic mix: a planned Caribbean divestiture, a minority investment in U.S. private wealth, a four-business-unit reorganization, and continued emphasis on digital partnerships, AI, and selective acquisitions. Guidance sentiment was maintained, while margin and mortgage-spread pressure remained central investor concerns.
Guidance delta
Management guidance sentiment was described as maintained; no quantified guidance change was supplied.
Key takeaways
- The supplied analysis describes an earnings beat with resilient operating performance and strong capital ratios.
- CIBC is repositioning capital through the Caribbean sale, a minority U.S. private-wealth investment, and potential buybacks.
- A four-business-unit structure, digital partnerships, and AI initiatives are intended to improve client focus and productivity.
- The central debate is whether organic growth and efficiency gains can offset margin, credit, and execution pressures.
Management priorities
- Grow private wealth and mass-affluent relationships.
- Integrate Canadian and U.S. commercial banking operations.
- Advance digital partnerships and AI-enabled productivity initiatives.
- Redeploy capital through buybacks and selective tuck-in acquisitions, subject to approvals.
Follow CM with an agent that reads every filing, transcript, and price print. Free to start.
Try FN2 freeEarnings History
Estimate
Beat
Miss
Match
Analyst 52W Price Targets
$111.45Current
$70Low
$106.62Average
$127.32High
Latest persisted target per named analyst; persisted current price from FN2's market snapshot as of Sep 24, 2026. Not an FN2 forecast.
Firm-level rating actions
FMP grade actions identify the grading firm, not a named analyst.
| Firm | Rating | Prior rating | Action | Date |
|---|---|---|---|---|
| RBC Capital | Outperform | Outperform | Maintain | Jun 1, 2026 |
| BMO Capital | Outperform | Outperform | Maintain | May 30, 2025 |
| B of A Securities | Neutral | Underperform | Upgrade | Dec 18, 2023 |
| National Bank Financial Inc | Sector Perform | Sector Perform | Maintain | Sep 1, 2023 |
| Barclays | Equal Weight | Equal Weight | Maintain | Sep 1, 2023 |
| CFRA | Hold | Hold | Maintain | May 29, 2020 |
| TD Securities | Buy | Hold | Upgrade | Sep 6, 2017 |
| Credit Suisse | Neutral | Underperform | Upgrade | Mar 31, 2017 |
| Macquarie | Neutral | Neutral | Maintain | Dec 4, 2015 |
| Citigroup | Buy | Buy | Maintain | Mar 5, 2015 |
| Keefe, Bruyette & Woods | Underperform | Market Perform | Downgrade | Feb 20, 2015 |
| Keefe Bruyette & Woods | Underperform | Market Perform | Downgrade | Feb 20, 2015 |
| Bank of America | Neutral | Buy | Downgrade | May 31, 2013 |
| National Bank Financial | Sector Perform | Sector Perform | Maintain | Aug 31, 2012 |
| Canaccord Genuity | Hold | Hold | Maintain | Aug 31, 2012 |
Named analyst price targets
Upside is calculated against the persisted current price $111.45. FMP does not supply a rating on these named-analyst rows.
| Firm | Analyst | 52W target | Price when posted | Upside | Date |
|---|---|---|---|---|---|
| Morgan Stanley | Analyst unavailable | $70 | $41.9 | -37.2% | Jan 6, 2023 |
| Desjardins | Douglas Young | $122.55 | $111.95 | +10.0% | Aug 30, 2021 |
| Bank of America Securities | Ebrahim Poonawala | $127.32 | $105.92 | +14.2% | May 19, 2021 |
Track every rating change on CM the moment it posts. Free to start.
Start freeCompany context
Snapshot as of publicationCanadian Imperial Bank of Commerce (CIBC) operates as a broad-based financial services provider, extending a wide array of financial offerings and solutions. Its diverse clientele includes individuals, corporations, government entities, and large institutional clients across Canada, the United States, and globally. The bank's operations are structured into four key divisions: Canadian Personal and Business Banking; Canadian Commercial Banking and Wealth Management; U.S. Commercial Banking and Wealth Management; and Capital Markets.…
Historical context
All CM earningsFinancial Services peers this season
Latest reports in the same sector| Company | Quarter | EPS surprise | Market move | Headline |
|---|---|---|---|---|
| PUK Prudential plc | FY2026 Q2 · Calendar Q3 2026 | -40.9% | -0.5% | Prudential sustains growth and capital returns focus in H1 2026 |
| TD The Toronto-Dominion Bank | FY2026 Q3 · Calendar Q3 2026 | +13.8% | +1.4% | TD emphasizes growth investments alongside disciplined capital management |
| RY Royal Bank of Canada | FY2026 Q3 · Calendar Q3 2026 | +6.2% | -1.3% | RBC reports record Q3 earnings while investing for growth |
| AFRM Affirm Holdings, Inc. | FY2026 Q4 · Calendar Q3 2026 | +1230.3% | +0.3% | Affirm's most profitable quarter shifts focus to product execution |
Latest beats and misses
Who reports nextBeat on EPS
- GISFY2027 Q1 · September 23, 2026+4.6% EPS+1.0% move
- AZOFY2026 Q4 · September 22, 2026+3.6% EPS+3.3% move
- FPSFY2026 Q4 · September 15, 2026+4.3% EPS+9.5% move
- TCOMFY2026 Q2 · September 15, 2026+22.3% EPS+3.0% move
- KRFY2026 Q2 · September 11, 2026+2.8% EPS+2.7% move
- ADBEFY2026 Q3 · September 10, 2026+0.8% EPS+1.4% move
Get the CM recap when the next report posts
One email per quarter with the scorecard, the market reaction and what changed on the call. No account needed.
Sources
- Earnings call transcript and parsed analysis · 2026-06-12T10:17:27.133091+00:00
- FN2 earnings calendar · 2026-07-26T00:37:12.209961+00:00
- Polygon adjusted daily market bars · 2026-09-24T04:50:57.864225+00:00
- Financial Modeling Prep analyst price-target consensus and quote snapshot · 2026-09-24T04:50:57.861403+00:00
Methodology
Reported and consensus figures come from FN2's earnings event records. Market reaction and volume are calculated from daily adjusted bars around the event; abnormal move subtracts the SPY move over the same window.
Analyst target low, average, and high values are derived at request time from each named analyst's latest persisted FMP target. The current-price marker comes from FN2's persisted market snapshot. They are sell-side estimates, not an FN2 valuation or recommendation.
Transcript intelligence is a structured synthesis of the current and prior earnings-call analyses. Missing values stay missing and are never estimated.
By FN2 Research · Updated · As of 2026-09-24. For educational purposes only; not investment advice.