Canadian Imperial Bank of Commerce (CM.TO)…

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Canadian Imperial Bank of Commerce (CM.TO)

166.97

+3.44 (2.10%)

as of Jul 10, 2026, 8:00:00 pm Market Open.

1039 watching

Investor Insights

Jul 11, 2026, 12:00 am

This summary was created by AI, based on 19 opinions in the last 12 months.

The Canadian Imperial Bank of Commerce (CIBC) has received mixed opinions from analysts regarding its performance and valuation. Many experts highlight its strong earnings growth, driven by significant increases in US-based business, and impressive return on equity, although concerns exist regarding its reliance on Canadian consumers and residential mortgages amid potential economic headwinds. Some analysts commend its cash reserve growth, with aggressive share buybacks and debt reduction strategies. However, others point out that the bank's valuation may be becoming stretched given the current economic context, urging caution and suggesting a focus on more defensive investments in the banking sector. Overall, while CIBC's trajectory appears positive, particularly with infrastructure developments benefiting the sector, the differing perspectives on its valuation suggest a cautious approach might be warranted.

Consensus

Mixed

Valuation

Fair Value

Similar

HOLD

CM is the cheapest and most attractive of his holdings. Canadian banking sector has been a great place to be, oligopoly. "Hates" being a customer, but loves being an owner. All in excellent shape. The sector is a core holding in his Canadian strategy.

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PAST TOP PICK

(A Top Pick Dec 29/20, Up 40%) Company didn't take write down set aside for pandemic. Room for divided growth and potential for share buybacks. Valuation cheaper than other Canadian big banks. Very resilient and should be part of most portfolio.

BUY

There's been a big turnaround in the banks. Housing remains strong. Nothing bad has happened at CIBC for a while, and he's been in business with them for a long time. Canada's banks have the potential to do well in 2002, because of rising interest rates (the lending rate rises). Also, the banks didn't really tap into their big reserves during Covid, so that money is trickling back into their reports. Plus dividends are climbing.

PAST TOP PICK

(A Top Pick Dec 29/20, Up 39%) Banks have massive excess capital from reserves. Very little downside from here, decent dividend yield. Not massive upside, but you can do worse than owning the Canadian banks. Beats the bond market by a mile.

BUY

Canadian banks are cheap. This trades at 11x earnings, but CM is more volatile because of its loan bank, but recent CEOs have de-risked by moving into active money management. So, CM is less risky now. They want to be a good investment bank in Canada. They will likely raise dividends and buyback shares. They reserve really well and will move that money into earnings. Canadian banks are consistent earners.

PAST TOP PICK

(A Top Pick Dec 29/20, Up 35%) The banks had not performed at that point last year. They had over-reserved at the beginning of the pandemic.

BUY

Likes it. More Canadian-centric than their peers. The banks are delivering very good ROE, though not sure if they can maintain that. CM pays a dividend over 4%. It's well-managed.

BUY ON WEAKNESS

Took some profits on Canadian banks just after earnings. When stocks stop rising on good news, take some profits. Across the board, banks beat expectations. Still owns this, BMO and BNS. Dividend is safe and capital levels are so high right now, you will see buybacks being allowed back along with dividend increases. Will buy when there is some weakness.

DON'T BUY

With rates moving up since last summer it has been positive for the lenders. This is more of the driver of the business than any company-specific story. The story is muddier now so she is not going into it.

HOLD

Tends to lag in all but very strong market conditions. One of the more aggressive of the Canadian banks. He's cautious. A very positive macro environment has created the returns you'd expect from the banks. He favours BMO or NA as, when regulatory restrictions are lifted, these are the two most likely to hike dividends.

BUY

Allan Tong’s Discover Picks CM stock has climbed nearly 17% year-to-date, even beating the traditional sector leader, Royal Bank, which has gained less than 13%. CM stock still trades cheaper than other TSX stock peers, though the gap has narrowed. CM stock’s PE now stands at 14.8x while RY’s is 15.3x. However, TD trades at 13.4x. Any of the big banks is a buy. However, one knock against CIBC is its weak presence in the U.S. CIBC is overlooked like the middle child in a family as investors focus on Royal and TD, but historically the underperforming bank stock one year tends to outperform the next, so 2021 could be CIBC’s year. Read 3 Enticing TSX Stocks: Banks, REITs and Tech for our full analysis.

BUY

His favourite of the Canadian banks right now. Around 8-10x earnings. Good yield relative to some of the others. Price to book is at the mid-lower end. He also likes RY and BNS.

BUY

It's a lot more competitively priced than Royal. It trades at 1.4x book and pays a safe dividend over 4.5%. He expects growth in the coming years. The banks have been unable to raise dividends, but that's likely to change if the recovery takes hold.

TOP PICK

The banks lagged this past year, but their earnings delivered as capital markets delivered. Interest rates have hurt this year, but should tick higher in the future. The banks hold excess capital. They've more than covered loan-loss provisions. They will buy back shares again and do acquisitions. He now likes Canadian banks for the first time in a while. (Analysts’ price target is $120.16)

PAST TOP PICK

(A Top Pick Jul 16/19, Up 1%) It's the best performer of the big 5 banks and pays the second-highest dividend that'll make up most of returns. Don't expect share appreciation in banks, but still a solid business with banks getting a piece of the equity management business. But the lending spread will be challenged for some time for banks. He has reduced his bank exposure overall, seeing challenges in banks for a while to come.

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Canadian Imperial Bank of Commerce (CM.TO)