TSE:CM

Canadian Imperial Bank of Commerce (CM.TO)

158.27
+1.79 (1.14%)
as of Oct 2, 2026, 8:00:00 pm Market Open.
1037 watching
0
DON'T BUY
Canadian banks have done a brilliant job of not losing money. Trading at a premium at 2X BV and doesn't know if they have much more room. This one trades at a higher BV so he prefers Toronto Dominion (TD-T) and Royal (RY-T).
COMMENT
Has to live a little with its past history. One of the banks that has never got back to where it was before 2008. Has made a few mistakes in the US in the past. This one is in the lower tier of the big 5 banks. Have cleaned up their act and the stock is a lot better. Not his #1 choice.
BUY
Made interesting acquisition in the US and looks like an interesting, accretive one where they will invest capital – have a mutual fund business. Done a good job of diversifying. His concern is that if there is a mud-hole out there, they seem to fall into it. Likes the other banks better.
BUY
Has completed an A B C correction and the trend line is intact. Has a lot of volume. Thinks it goes higher.
HOLD
Don’t buy any more until the $72 area. Be patient. It has a 10% upside, but it is above its model price.
HOLD
When the market was hitting its low in 2009, all the bank stocks hit a low and started a new up leg. Then developed an upward trending channel. We are now 2 years into the bull market when banks some times start to slow down. Be aware that it s not going to have the same exciting move as it did moving from $37 to $70. Keep an eye on the 200 day moving average, which it is still above.
TOP PICK
Has the highest dividend and the cheapest valuation and banks do tend to revert to the mean, so that those that underperform, tend to pull up their socks. Looks very good on a technical basis. Over 4% yield.
WATCH
Banks have recovered nicely from the bottom and have good earnings visibility. This is the year when they will start increasing their dividends. This one is going through an internal transformation and is de-risking their business. Talking about expanding into global markets so watch to see how they do.
WAIT
Would like to see them get their act together a bit more. Get rid of some of the overhang questions that relate to write offs, etc.
COMMENT
Looking for a dividend increases in the 1st half of the year but is probably already largely built into the stock price. There could be a slight stock price increase when this happens.
BUY
Getting more positive on this bank. Banks will see slower growth in earnings. Of the Big 5, those with better domestic operations will do better and this is one of the best.
BUY
Cdn banks have lagged. Expects there will be increases in bank dividends but not until well into 2011, except for Toronto Dominion (TD-T), which will be the first to go. This one is fine but would not be her Top 2 banks. (See Top Picks.)
COMMENT
Within the Big 5, Toronto Dominion (TD-T) and CIBC (CM-T) are his favourites. This one has a very decent dividend. If you are looking for dividend growth, look at TD who will increase their dividends by about 8.5% per year over the next 3 years. CIBC is looking at about 3.7%.
COMMENT
Assessing risk management relative to other banks? Great question, particularly for this bank. Had a relatively poor showing last 10-15 years. Trades at a discount multiple because of this. Now an opportunity since they have now exited all those other riskier businesses.
DON'T BUY
Not crazy about banks from an earnings standpoint. Housing market is slowing down, which is a big part of their loan books. Doesn't expect unusual performance out of any of them. Least expensive bank so has the highest yield.
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