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

HOLD

Trading at 8x earnings. Its wonderful retail banking got destroyed when capital was redirected to investment banking side. Trying to get back to strong retail franchise. Opportunity to buy it cheap. Investment banking and asset management will be tough. Paid to hold. Dividend safe. Highest yield of all the banks, around 6%.

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DON'T BUY

Banks are in a downtrend and not doing well in these times. He won't buy a stock in a downturn. To buy a stock for their conservative account, there must be 3 successful peaks showing higher highs and higher lows on the weekly chart. Also it should be above its 200 day moving average. One breakout does not mean a buy.

HOLD

Likes the prospects for Canadian banks, but does not own shares. Other options for investors. Current share price and dividend yield is attractive.

BUY

It is in the penalty box along with the other banks. Its net interest margin is not related as positively with the rise in rates. Mortgage renewals can be a problem with higher rates. It has a compelling valuation and great yield but in the immediate term there will be turbulence.

DON'T BUY

CM vs. BNS Both have underperformed over the last year. CM is down 16%, BNS down 18%. RY is the only bank up YTD. Any contrarian would say buy. Over the last 5 years, both are at the bottom of the pack. If you like Latin America and the new CEO, pick BNS. If you think CM has cleaned up its US litigation, pick that one. BNS gets his vote. Yield is 6.3%.

DON'T BUY

Big mortgage loan book in Canada. Question marks around how Canadians are going to be able to handle higher interest rates. Domestic focus could keep a lid on multiple expansion.

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Curated by Michael O'Reilly since 2020.
1550+ opinions with 4.81 rating (one of the best performing expert).

TOP PICK

Stockchase Research Editor: Michael O'Reilly Trading at 9x earnings and 1.3x book, CM is reiterated as a TOP PICK. In a period of high interest rates, it is a defensive holding. Its dividend is backed by a payout ratio under 50% of cash flow and its ROE is over 14%. We recommend trailing up the stop-loss (from $52) to $55, looking to achieve $93 — upside potential over 45%. Yield 5.3% (Analysts’ price target is $92.77)

DON'T BUY

CM vs. TD for the long term? TD. CM has a lower valuation, but TD has everything going for it. CM is struggling, and he's wary of that. Go with the better quality ones now. His firm looks at valuation, not fundamentals. When it's time to buy value, he'd look at CM.

BUY

Strong business and excellent prospects in Canada. Second highest dividend for Canadian banks. Higher interest rates good for banks. Fears of recession have pushed shares low. Good time to buy shares. Will be a good business for the long term investor.

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Curated by Michael O'Reilly since 2020.
1550+ opinions with 4.81 rating (one of the best performing expert).

TOP PICK

Stockchase Research Editor: Michael O’Reilly In times of market uncertainty, Canadian chartered banks are a defensive holding. CM trades at under 10x earnings and near book value. It’s dividend is backed by a payout ratio under 50% of cash flow. We recommend placing a stop-loss at $52, looking to achieve $93 — upside potential over 55%. Yield 5.5% (Analysts’ price target is $92.77)

Unspecified

Canadian banks will have similar difficulties as their U.S. counterparts. CIBC is well capitalized and can buy back shares. It will probably increase its reserves.

COMMENT

Will volatility in banks end? The banks are an indicator of markets. Capital markets activity (a lot less M&A) has impacted banks. However, net interest income is positive. On balance, banks have a decent profit profile. They hold a lot of capital to pull many levers like buy back shares. He is quite positive all banks. His favourites are BNS and TD, followed by Royal. CIBC has a weaker growth profile.

DON'T BUY

He's lightened up on financials. Valuations are compelling, but margin and loan growth will be stagnant. Banks don't do well in recessions. Large loan book in Canada, without access to the US. It's fine, but his preference is TD or RY.

TOP PICK

Bank stocks have retreated significantly. Moving judiciously into the US, now 20% of earnings come from there with a goal of 25%. Outstanding value right now. Second-highest dividend yield right now at 5.27%. (Analysts’ price target is $76.18)

BUY

A favourite in this environment. Well priced compared to the group. Concern is that they're more of a domestic bank, higher exposure to housing. Coming through past problems. Trading at 9x forward earnings. Yield close to 5%.

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Canadian Imperial Bank of Commerce (CM.TO)