BMO Capital Boosts Canadian Imperial Bank of Commerce (CM) PT to C$112

Group 1 - Canadian Imperial Bank of Commerce (CIBC) is recognized as one of the best dividend stocks to buy, with a recent price target adjustment by BMO Capital from C$112 to C$107, maintaining an Outperform rating [1][2] - CIBC reported cash operating earnings per share of $2.16, surpassing BMO's forecast of $1.99 by 9% and Wall Street's estimate of $2.01 by 8% [2] - The bank's Capital Markets division contributed positively, with trading revenue reaching $567 million, exceeding expectations [3] Group 2 - CIBC achieved a return on equity of 14.2% with a CET1 ratio of 13.4%, following a share buyback of approximately 5.5 million shares in the second quarter [3] - The bank announced a normal course issuer bid (NCIB) for 20 million shares, representing around 2.2% of its total shares, pending regulatory approval [3] - CIBC offers a diverse range of financial services, including banking, loans, investments, insurance, and wealth management [4]