Canadian Imperial Bank of Commer (CM) said before open Thursday that it broke even in quarter four 2023.
In the same quarter a year ago, the company earned $1.05 per share on revenue of $4.1 billion.
The stock is up 4.33% to $40.96 after the report.
Canadian Imperial Bank of Commer's profit margins maintained as both earnings and revenue declined at the same pace.
The average recommendation from Wall Street analysts was a Hold which may get revised based on this new data.
Trading in the five days leading up to the report earned Canadian Imperial Bank of Commer a Bullish Sentiment Rank from InvestorsObserver.
Canadian Imperial Bank of Commer has performed a little below average during the past few months. Before the report, Canadian Imperial Bank of Commer received a Long-Term Technical Rank by InvestorsObserver of 41, putting it in the bottom half of stocks. The firm was recently trading at a 52-week low of $34.35 on October 25, 2023 and set a 52-week high on November 30, 2022 at $48.27.
Canadian Imperial Bank of Commerce is Canada's fifth- largest bank, operating three business segments: retail and business banking, wealth management, and capital markets. It serves approximately 11 million personal banking and business customers, primarily in Canada.