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TSE:CM

Canadian Imperial Bank of Commerce (CM.TO)

159.85
+0.70 (0.44%)
as of Jun 16, 2026, 8:00:00 pm Market Open.
1035 watching
0
Investor Insights
star iconJun 16, 2026, 12:00 am

This summary was created by AI, based on 18 opinions in the last 12 months.

Experts regard Canadian Imperial Bank of Commerce (CM) as a well-positioned bank benefiting from infrastructure and energy development in Canada, with notable financial metrics including a 16% return on equity (ROE) and a supportive dividend yield of around 2.8% to 3.0%. While some analysts recommend a cautious approach due to Canadian economic fragility and significant exposure to residential mortgages, others maintain a bullish outlook based on the bank's strengthening cash reserves and share buyback initiatives. There is concern about the overall valuation of the Canadian banking sector, which appears to be trading at record highs. Despite the mixed signals, CM is generally deemed a better value compared to its peers, with analysts seeing modest upside potential based on current earnings multiples and strategic partnerships to support growth.

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Consensus
Positive
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Valuation
Fair Value
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Similar
RY
BUY

He switched from BMO-T to CM-T last year. It is still not his largest banking holding. It is a bit of a catch-up trade.

DON'T BUY
They stubbed their toe on Q4 earnings and arrived late to buying assets in the US. In Canada, they have been very aggressive on mortgage lending. He does not own it presently. He is not a fan of the overall leverage to the Canadian economy.
DON'T BUY
CM vs. MFC They were late to get US exposure, which hurt them. Also, there's negativity towards CM's mortgage book. TD and RY remain the top Canadian banks, not CM. TD & RY are investing in tech, the future, which is smart. MFC: The lifecos have done well diversifying into asset management and into Asia. But with low interest rates, pricing insurance gets tougher and limits growth. You own lifecos for Asia and wealth management. Not CM, but buy TD and Royal.
DON'T BUY
They stood out from their peers as the one to increase their expenses. This is difficult because of the headwinds in the sector. It has the weakest earnings profile going forward. He would prefer another bank. See his Top Picks for today.
HOLD
If the market is going into an inflationary period, this dividend and 8.9 times earnings, you could but it here. Their underlying credit quality remains stable. The resumption of Canadian real estate looks good. Earnings are not growing as fast as other Canadian banks. Yield 5.5% (Analysts’ price target is $113.00)
DON'T BUY
The banks across the board have’s done well this week. Banks do well between August to September and usually outperform the market. From a technical perspective, we inched into resistance and we’re seeing testing. He wouldn’t be a buyer here unless it come down to the August low.
BUY ON WEAKNESS
$111.65 is his structural level. It will stay where it is until there is some news. He would add here as his model price is $135.44 or an 18% upside. He would nibble here.
STRONG BUY

Lots of upside to come and pays a nice yield. CM is in the lower end of its 10-year range. Really likes this, even more than TD.

PAST TOP PICK
(A Top Pick Dec 10/18, Up 13%) Pays the best dividend among Canadian banks. Still likes it. Trades in line with its peers in terms of valuation. ROE is fairly good. They report next week. Credit has held in well in this space, and all the banks have contained operating costs. The sector is up 14%.
HOLD
Financials look pretty good. They keep moving on into December. You have support way back in May and we should see it hold at $110. It should carry on into January and February of next year. It should go back up to $120 and then pause there.
COMMENT
Will they continue to outperform their peers? Every cycle sees the laggard become the leader and then vice versa. The Canadian banks are all about the same in long term returns. CM is the smaller of the Big 5 banks. RY has been consistently the largest bank, however. CM-T does have the highest current dividend yield.
DON'T BUY
Traditionally it has been regarded as more focused on the domestic economy. The reliance on the domestic Canadian mortgage market for growth is not well regarded. It might be okay shorter term but not longer term.
BUY
A recent top pick. Fine valuation vs. peers. Neither the cheapest or most expensive bank, and pays nearly a 5% yield (safe), higher than peers. Their mortgage exposure is greater than peers, though.
HOLD
He saw a floor near $100 back in August and resistance at $110. If we go above $112, then $120 is very likely. A no man's land right now, so just hold with downside to about $105.
HOLD
He is luke warm on Canadian banks. He owns BNS-T and CWB-T. It has not been the best run bank historically. The dividend is safe unless something horrific happens. It will probably continue to grow its dividend.
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