By James Langton

(March 1 – 18:00 ET) – John Hunkin, CIBC chairman and CEO, told analysts during the company’s quarterly conference call that the bank deserves a plum from the stock market for its strong results.

Hunkin entreated analysts to help give the stock a boost, noting that the bank deserves a higher multiple in recognition of the fact that it has delivered on its cost control and risk control pledges, and that the management team is bringing strong discipline to its operations.

One analyst suggested that CIBC’s lagging stock price marks it as a potential takeover target rather than an acquirer in the next round of financial industry consolidation. Hunkin wouldn’t characterize CIBC’s strategic positioning except to be say that it will be on a very aggressive offensive in favour of boosting shareholder value.

As to the industry climate, Hunkin said he is “cautious” amid economic uncertainty, noting that the bank hasn’t seen any of the credit, or other, problems that some U.S. banks have experienced, but admitting that “we are not immune”.

All the market volatility has been very positive for trading businesses. CIBC’s vice chairman Treasury, Wayne Fox, noted that on the investment banking side, the underwriting business may be down but it sees strength in M&A and trading. This echoes the sentiments of BMO Nesbitt Burns in its call earlier this week.