The bank also announced it is boosting its quarterly dividend by three cents to $1.21 per share, payable July 28. The profit amounted to $2.35 per share of net income, up from $2.25 or $911 million during the second quarter of 2015. Barclays said it bumped up its price target for CIBC stock from $80 to $87. Adjusted income for the quarter ended April 30 was $962 million or $2.40 per share, compared with $924 million or $2.28 a year ago. "Despite an improvement in consumer delinquencies, we remain concerned with domestic exposures and believe that incremental relative upside is limited.," Aiken said.

Source: CBC News May 26, 2016 11:00 UTC