TSX:CMBanks
CIBC (TSX:CM) Stock Faces Credit Scrutiny Despite Strong Profit Growth
Canadian Imperial Bank of Commerce stock has been treading water in recent weeks, with the share price roughly flat over the past quarter and trailing slightly over the past month. Yet Q3 earnings landed with a very different tone. Adjusted earnings per share came in at $2.73 and net income excluding unusual items reached $2,271m, both supported by solid revenue of $7,804m.
The real story sits on the balance sheet. Total loans climbed to $616,061m while non performing loans rose to $4,024m...
