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.

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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

In Canada, the big banks are good value creators over time. However, he prefers geographic and business diversification, and CM is underdeveloped in the U.S. despite a recent purchase down there. Their asset management is a fee-based business so it isn't effected by low interest rates or loan loss provisions. Their large exposure to lending and deposit activities is a disadvantage. Historically, the big banks yield double-digit returns, including dividend, and CM grows its dividend at 7-8% yearly--but not every year, not this year. If you own, then hold. If not, look at another Canadian bank.

BUY

Canadian bank for dividends? For a 10-15 year time horizon, the Canadian banks are a pocket of value. They are trading less than 10 times forward earnings, which already include loan loss provisions. They have high asset qualities. Buying here is a winning formula for the long term. The dividend will pay you to wait for the market to return to normal post-pandemic. TD, RY and BNS happen to be the ones he favors for his clients. They have exposure to international markets. BNS has the best valuation and the dividend yield is better than its peers.

BUY

He still likes it. It is at somewhat of a discount. It is more Canadian-centric compared to competitors. Over the next few quarters he thinks provisions for loan losses will rise. They are at a reasonable price.

PAST TOP PICK

(A Top Pick Jul 15/19, Down 1%) The best performing Canadian bank of the past 12 months. It continues to go through a transition. On a long term basis, CM still has good things going for it compared to its peers, giving them an opportunity to increase market share.

BUY

There is a nice recovery in the Canadian banking sector. This shows they have likely over reserved for credit losses. There are a lot of moving parts and he is surprised about how agreeable the banks are to deferrals of mortgages. Higher oil prices is helping as well. Now is a decent time to pick a bank for your portfolio.

COMMENT

Preferred shares? He holds preferreds for their clients. These are senior to common stock and are more risky than bonds. The preferred market is unique to Canada and lacks liquidity at times. The yields are very attractive at 6% or higher. Just be careful of the difference between the "rate reset" offerings that renew their dividends based on the Bank of Canada interest rates. He would suggest owing the perpetual shares instead that have a constant dividend.

BUY

Nothing has happened to CIBC in recent weeks to make it worth 35% less. If you liked it at $110 a share you should love it at the current price. No Canadian bank has ever cut a dividend in 77 years.

BUY

It's a good time to buy the big 6 banks. Yields are very high, with CM yielding 7.5%. It's a good time for a young investor to initiate positions. No bank will have its earnings totally obliterated during this crisis. Prices have rolled back. You can now buy a bank at book value or 1.5x book, which is a rare opportunity. Yes, ROE will be compressed if loan losses rise, but requirements have recently been loosened, which takes some pressure off. TD and BMO are more exposed to the U.S. where there are some commercial credit problems, so he's cooler on those, and hotter on the other big 6, including CIBC.

BUY

He owns TD and Royal. People are worried that with the price of oil so low, we'll go into recession, rates will go down, and the Canadian consumer is more highly leveraged than the US consumer. Banks are trading at reasonable multiples with good balance sheets. Risk profile is not what the US was in 2008. Makes a lot of sense to own any of them now for the long term.

WAIT

$99-126 is its range for trading. Wait for earnings on Feb. 26, which he expects to be decent, so it would be a good buying opportunity on Thursday/Friday. CM is right at its 200-day moving average. A buying opportunity if this falls to the lower end of its range.

BUY ON WEAKNESS

The banks had a lack luster performance in the last quarters and analysts really cut their ratings on the banks, so it may be an opportunity to get back into them. He is looking at a breakout from the October peak. They are starting to bounce back again.

PAST TOP PICK

(A Top Pick Feb 11/19, Up 4%) It is fairly representative of what happened to bank stocks in the last year. It went sideways but lost attitude. It remains good value. He wishes the cheap stocks would get going.

HOLD

Banks on the whole are going sideways. It's OK. Pretty good dividend. Stuck in a range, $100 on the low side and $120 on the high end. Good for the dividend, but not for growth. Yield is 5.3%.

DON'T BUY

Weak link among the Canadian banks.

BUY

One of his principal bank holdings. Loan provision increases have been occurring and he thinks management is just being cautious. It is well capitalized and trades at a discount to its peers. He would recommend buying here.

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Canadian Imperial Bank of Commerce (CM.TO)