Canadian Imperial Bank of Commerce (CM.TO)

Seen as most troubled Canadian bank. Regulatory scrutiny on balance sheet. Among the highest dividends. Prefers RY and TD for the stronger balance sheets. May have more downside, but don't be afraid of it. 

You can hold it for income. Dividend is safe for sure. Less foreign exposure, so this will benefit them in the short term. Canadian assets continue to grow. Best quarterly results of all the banks. Mortgage book and credit cards could come under pressure. He prefers other banks, based on history with CM. Pretty compelling yield of 6.2%.

A good entry point. Pays a safe 6% dividend yield. Price to book is closer to 1x among its peers. Yes, their mortgage exposure is larger than its peers, but it won't hurt CM long-term.

Has more Canadian housing exposure, so in an economic downturn, they could get hit more than their peers. But that would be a buying opportunity. Likes managers. More upside than Royal Bank, but more downside in the short-term. Volatile in the short term.

Still likes it. Very discounted with what's happening in the financial world, especially in the US. An opportunity for long-term investors, around 8x earnings, yield 5.9%. 

Might break down trend, but unsure.
Banks in general perform well in rising interest rate environment.
Current lid suggest good time to buy. 

A bit like chalk and cheese. CM is the most domestic and Canadian bank. BNS is the most international, especially in Latin America. BNS has more risk because of all that could go wrong in developing countries. CM has more risk because it rarely has found a log that it couldn't trip itself over. Invest with the one that you bank with. It will at least be emotionally satisfying, as your bank charges will be covered by dividends, which will increase regardless.

A big holding of his. They have pledged to increase earnings in the U.S. (as have other Canadian banks) so that 25% of earnings are American. They will focus more on organic growth and controlling expenses. Are building reserves against credit losses. Pay over a 5% dividend yield.