CIBC Q4 Profit Beats Estimates; Names Katharine Stevenson Chair Of Board

(RTTNews) - CIBC (CM.TO, CM) reported fourth quarter adjusted earnings per share of C$2.79 compared to C$2.84, a year ago. On average, 14 analysts polled by Thomson Reuters expected the company to report profit per share of C$2.52, for the quarter. Analysts' estimates typically exclude special items.

Fourth quarter Total revenue declined to C$4.60 billion from C$4.77 billion, previous year. Analysts expected revenue of C$4.63 billion, for the quarter.

CIBC also announced the appointment of Katharine Stevenson as Chair of the Board, effective upon her election as a director at Annual Meeting on April 8, 2021. Stevenson has been an independent director of CIBC since 2011. She will succeed John Manley, who will retire from the Board at the next annual meeting.