Canadian Imperial Bank of Commerce (CM.TO)

For the last few months, Canadian banks have underperformed while US banks have outperformed. Cdn banks held up their value very well through the decline we went through in 2008-2009. However, we are now at a point where the Canadian economy appears to be slowing down a little bit. But in the US there are some improvements. US banks are cheaper than Canadian banks. If things are getting a little worse in Canada and a little better in the US, he would prefer going to a US bank. 4.9% dividend yield.

Has the highest capital of all the banks, and has retrenched on the risk side. There is a short on the Canadian banks, and long on the US banks, which will be putting pressure on the cost. This is a long term buying opportunity.

Not his favourite among the banks, but it is a buy.

He likes JP Morgan and Goldman Sachs

The problem is not a quality problem but that there is a lot of international money in Canada that is moving out of Canadian stock markets. US banks should see more dividend growth. Prefers US financials.

Banks tend to finish off their seasonal run in mid April. However this is a high-yielding stock, a core position in a Canadian portfolio. Doesn’t expect the banks to get demolished over the summertime. Not the best time for banks but not a horrible time either. If you broke down through about $66, that would be a time to exit.

Trades at a discount to the other banks. 4.6% yield. Is in better shape than it has ever been over the last few years. They have concentrated on their core businesses.

Would prefer Royal (RY-T) and Toronto Dominion (TD-T). After that he would go to Bank of Nova Scotia (BNS-T) because they probably have the most success expanding internationally. Over a long period of time, these 3 have had a higher ROE.

(A Top Pick Jan 29/13. Down 6.24%.) Still likes. Suffering really from a view generally by Europeans and US that the Canadian consumer market is a dangerous place for a bank to be resulting in a Shorting of the stock. He is looking for earnings growth over the next 3 years of better than mid-single digit dividend increases. This is a Buy at these levels.

He wants companies with more global exposure. There are huge worries about Canadian banks with their exposure to real estate. CM is the most exposed. He is not worried about real estate affecting the banks, however.

A month ago, the banks were doing tremendous but then came off in March. If you like this one and have done your work, it is just as good as any of the other banks. 4.83% dividend.

Has always avoided this bank. He always picks the ones that have performed the best over the longest period of time. Very large exposure to the Canadian consumer and this is an area that he has the most concern about. Prefers others.

(Top Pick Mar 27/12, Up 11.89% Total Return) Still thinks it has a ways to go. Valuation advantage has been eaten up a bit. You are buying the bank with the highest ROE and one of the highest quality capital bases.

Decent bank. Along with other Canadian banks have pulled back in the last few days. If looking for dividend growers, Toronto Dominion (TD-T) is probably your “go to“ name. In financials, he would probably choose insurers in Canada rather than the banks. Dividend of 4.5%.

4.5% divided. This is the one of the 5 he does not own. Total returns over 20 years bears out that they were the lowest performer. But Canadian banks are a good place to be invested in.

Trading at 10.5X earnings and has a significant dividend yield. Expects there will be dividend increases across the board for Canadian banks. Banks are sitting with enormous excess capital and it is a Goldilocks environment for Canadian banks.