Canadian Imperial Bank of Commerce (CM.TO)…

Canadian Imperial Bank of Commerce (CM.TO)

159.59

-1.41 (0.88%)

as of Oct 23, 2026, 8:00:01 pm Market Closed.

1039 watching

BUY

The whole Canadian banking system has traded down. He loves being an owner of it and thinks we are getting an opportunity. Housing market fears are laying hard on the markets. There are short positions in the US on Canadian Banks. The banks are starting to look very attractive.

PARTIAL BUY

If it breaks $110 we are going up. He just picked it up. He likes the basing here we just saw. There is a downtrend overhanging it. He thinks the risk/reward is really good. It is a good place to pickup at least half the position.

WEAK BUY

RY is his favourite bank, but there's nothing wrong in investing in Canadian banks. The banks pay a 4% dividend and raise them by 6% a year. That's why the Canadian banks beat the TSX.

HOLD

Valuations of the Big 5 are fairly compelling. The one knock against them is that they don't have a great growth platform. Risk that their growth strategy in the US won't work, as it will take a lot of money. His preference is TD, Royal, or BNS. If you care just about the dividend, you'll be OK.

BUY

Is it cheap? Of all the big banks, CM-T is at very good value. It has the highest yield of the majors. The concern may be their exposure to Canadian housing markets -- they lack some of the international diversification. This is one of his largest holdings in the financial space.

TOP PICK

This is the cheapest of the Canadian banks. It is too cheap to ignore at these levels. Yield 5.47% (Analysts’ price target is $115.00)

HOLD

He's traded this stock. It's been monster sideways for a long time. It has support around $105 and entering this zone. As long it doesn't fall below lows of $100, this is okay, a hold. This has a pattern of bouncing off $100.

BUY ON WEAKNESS

CM made a good purchase today [of Milwaukee-based boutique investment banking firm Cleary Gull Inc.] to build the asset sheet. Though, all Canadian banks have been rangebound lately, he's happy to own them. Buy on any weakness.

COMMENT

A Canadian bank. They pay a good 5% dividend that they've raised 8 times in the last 3 years. True, management keeps messing things up, though.

DON'T BUY

We are growing slower than we think, here and abroad. Among the banks, he prefers TD and RY given their American exposure, whereas CM is late to enter to US. They also overpaid an acquisition.

BUY

The Canadian banks are a buy as long as you don't get too over weighted. If interest rates are cut in the US, it will be tough for financials as whole. The 10 year bond yield has dropped a third this year, taking away a lot of profitability for the banks.

COMMENT

It has been under some pressure along with the rest of the group. It is in a kind of consolidation after breaking the uptrend. Banks are not going to collapse but probably not a lot of upside here. Income orientated stock to own now.

COMMENT

For an RRSP? The bad news is that he expects only 3% EPS growth (vs. 6% for this space). Yes, it's cheap vs. its peers and pays a solid dividend. But CM remains tethered to Canadian real estate, a headwind. The banks will be market performers; he prefers TD or RY or BMO. CM is okay long-term.

COMMENT

They always bad a bad rep among Canadian banks, but it's doing better lately, trading a full point ahead in yield vs. its peers. It has the best valuation among Canadian banks. CM's big exposure to Canadian mortgages and fears of massive defaults? He doesn't worry, because the CMHC protects mortgages here, and many mortgages have a good loan-to-value ratio.

DON'T BUY

On his last appearance, he was concerned with CM around $109, and in May he said that if this fell below $105, there would be troubles. $105 would become resistance. He owns RY, BMO and TD. Unless CM cracks $105, CM will be stuck between $100-105. There are better places to go.

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Canadian Imperial Bank of Commerce (CM.TO)