On May 28, Canadian Imperial Bank of Commerce fell 4.61% in regular trading, trading at $110.0/share, with trading volume of $125 million.

On the news front, the company released its fiscal second-quarter results, reporting adjusted earnings per share of CA$2.54, above the FactSet consensus estimate of CA$2.46. Revenue came in at CA$8.01 billion, also surpassing the market expectation of CA$7.96 billion, representing a 14.1% year-over-year increase. However, results showed notable sequential deceleration compared to the prior quarter, which had delivered revenue of CA$8.398 billion, adjusted EPS of CA$2.76 (up 25.46% year-over-year), and net profit growth of 42.27% quarter-over-quarter.

The broader Diversified Banks sector also traded lower, with JPMorgan Chase down 0.64%, Bank of America down 0.46%, Citigroup down 1.14%, and Wells Fargo down 0.05%.

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