John Zechner Canadian Imperial Bank of Commerce CM-T PARTIAL SELL Dec 02, 2024

He'd pick BMO. All Canadian banks are in solid financial position for the most part, attractive yields, stable earnings.

Hesitant on Canadian banking space in general. Mortgage reset date of 2025 hasn't happened yet, with its impact on consumer. Bulk of the bad news hasn't been taken into consideration yet. 

Market bias toward domestic-centric banks right now, so they're doing well. If she had to pick a Canadian-centred bank, she'd pick this one.

It's been at a discount from all its peers but that is eroding due to them beating earnings. His preferred Canadian bank.

A leader in the group, stick with it.

If you're in a bull market, you want to own the strongest stocks you can find. He prefers "good, getting better", some kind of positive change that could add to the valuation, and where other people agree with him. He owns RY, CM, and NA; firing on all cylinders.

Make sure it stays above $86. A range of $5 is not going to break the bank ;)  But $86 is where you might want to start trimming and looking at some of the underperforming banks such as TD. He can't imagine TD will stay in its current situation forever. This strategy will also add to your diversification. But be cautious selling, because it's on a nice upswing.

This type of stock is not going to drop from $91 to $50 on a single announcement, it's a lot more predictable than that.

It was undervalued, forgotten. Management has done a great job. Shares remain cheap as it pays a 4% dividend. Still likes it and would buy it now.

Taking less on credit provisions than other banks. Positive: credit situation better than others. Negative: taking more risk and, if wrong, stock would be penalized. Canada-centric. Exposed to residential mortgages and commercial real estate in Canada; two iffy sectors, but doing better than expected. Good earnings and good asset management. 

Don't sell. Trading more cheaply than RY. RY commands a premium price for a premium asset.

Used to have a habit of running into sharp objects, but CEO has turned this around. Warrants consideration. Great domestic personal and commercial business, capital markets, and wealth management. Modest presence in US, and has stayed out of trouble there.

If you already own NA and RY, consider TD or BMO before this one. But if you're going to add 2 more banks to your portfolio, no quarrels with adding this one.