Steady Results for CIBC in 1Q; Mortgage Growth Finally Slows
Narrow-moat Canadian Imperial Bank of Commerce posted decent fiscal first-quarter 2018 results, and we are maintaining our fair value estimate of CAD 131 for the bank, while updating our fair value estimate for U.S. shares to $104 due to exchange rates. The bank took a CAD 88 million charge related to U.S. tax reform, but normalizing for this and two other minor items brought quarterly EPS to CAD 3.18, a yearly growth rate of 10%. Adjusted return on equity was a strong 18.8%, slightly above wher...
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.
Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
We have operations in 27 countries.
Unfortunately, this report is not available for the investor type or country you selected.
Browse all ResearchPool reportsReport is subscription only.
Thank you, your report is ready.
Thank you, your report is ready.