Canadian Imperial Bank of Commerce (CM-T) Stock Predictions - Stockchase
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Canadian Imperial Bank of Commerce (CM-T)

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Canadian Imperial Bank of...

CM-T

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Canadian Imperial Bank of Commerce (CM-T) SAVE Mar, 18, 2019, 3:26 pm

113.64 0.74 (0.66%)

About Canadian Imperial Bank of Commerce (CM-T)

The Canadian Imperial Bank of Commerce, commonly referred to as CIBC, is one of the Big Five banks in Canada. The bank is headquartered at Commerce Court in Toronto, Ontario. CIBC's Institution Number is 010, and its SWIFT code is CIBCCATT. More at Wikipedia

What the experts are saying about CM-T



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Signal Opinion Expert
BUY
The Canadian banks are good value. They've come off their highs in the recent reports, due to the harsh market action in Q4 2018. CIBC is the cheapest of the pack in terms of PE and highest yield, but it's also had its issues. It's priced accordingly. He likes the American exposure of TD, though. These are not expensive stocks. You can't go wrong with these banks.
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The Canadian banks are good value. They've come off their highs in the recent reports, due to the harsh market action in Q4 2018. CIBC is the cheapest of the pack in terms of PE and highest yield, but it's also had its issues. It's priced accordingly. He likes the American exposure of TD, though. These are not expensive stocks. You can't go wrong with these banks.
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Don Lato

President, Padlock Investment M...

Price Price
$111.950
Owned Owned
No

DON'T BUY
TD-T vs. CM-T. The banks this year should have an up year. He prefers TD-T. CM-T has the most exposure to Canada. They are going to do US acquisitions but those they buy will be at much higher multiples than CM-T trades at now so it will be dilutive.
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TD-T vs. CM-T. The banks this year should have an up year. He prefers TD-T. CM-T has the most exposure to Canada. They are going to do US acquisitions but those they buy will be at much higher multiples than CM-T trades at now so it will be dilutive.
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Teal Linde

Portfolio , Linde Equity Report...

Price Price
$112.460
Owned Owned
Unknown

BUY
They are the most attractive from a valuation basis. 5% yield. Canadian banks above 5% yield are always a buy. CM-T has not participated in recent strength in banks. It’s a buying opportunity.
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They are the most attractive from a valuation basis. 5% yield. Canadian banks above 5% yield are always a buy. CM-T has not participated in recent strength in banks. It’s a buying opportunity.
banks
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Kash Pashootan

CEO & Chie, First Avenue Investm...

Price Price
$112.330
Owned Owned
Yes

BUY
Just went through bank reporting season. Dividends rose as expected. Banks are off a little bit. CIBC disappointed a little more than the others. The concern with CIBC is its domestic exposure. A made in Canada recession would impact this name. Yield is good.
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Just went through bank reporting season. Dividends rose as expected. Banks are off a little bit. CIBC disappointed a little more than the others. The concern with CIBC is its domestic exposure. A made in Canada recession would impact this name. Yield is good.
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Lyle Stein

Sr. Portfo, Vestcap Investment M...

Price Price
$111.900
Owned Owned
Yes

BUY
Reports on Thursday He plays a US-centric angle among Canadian banks, so doesn't own CM. But CM's earnings should be decent and should enjoy upside into the summer.
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Reports on Thursday He plays a US-centric angle among Canadian banks, so doesn't own CM. But CM's earnings should be decent and should enjoy upside into the summer.
banks
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Andrew Pyle

Senior wea, The Pyle Group, Scot...

Price Price
$114.610
Owned Owned
No

BUY
He recently took profits out of risk-reward, not because he was bearish. It's been in a channel between $110-125. This should eventually hit $130, if you have a long-term view.
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He recently took profits out of risk-reward, not because he was bearish. It's been in a channel between $110-125. This should eventually hit $130, if you have a long-term view.
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Keith Richards

Portfolio , ValueTrend Wealth Ma...

Price Price
$114.240
Owned Owned
No

COMMENT
Placing a January 2020 covered call? He's unsure about going to January 2020 unless you want to generate a set rate of return based on dividends and income from the covered option. It's the highest yielding Canadian bank at 5.5%. If you sell a Jan. 2020 call slightly out of the money you'll get another 4%. That's an over 9% return and capital gain. CM's numbers have been good lately. This could hit $125.
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Placing a January 2020 covered call? He's unsure about going to January 2020 unless you want to generate a set rate of return based on dividends and income from the covered option. It's the highest yielding Canadian bank at 5.5%. If you sell a Jan. 2020 call slightly out of the money you'll get another 4%. That's an over 9% return and capital gain. CM's numbers have been good lately. This could hit $125.
banks
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Richard Croft

President, R.N. Croft Financial...

Price Price
$113.220
Owned Owned
Yes

TOP PICK
It's traded in a range for the past 10 years and recently fell to $104 and has since risen. Buy the cheapest bank in the group because it will beat the other banks,. It had its nasty bit. He targets $127. (Analysts’ price target is $125.43)
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It's traded in a range for the past 10 years and recently fell to $104 and has since risen. Buy the cheapest bank in the group because it will beat the other banks,. It had its nasty bit. He targets $127. (Analysts’ price target is $125.43)
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Ross Healy

Chairman, Strategic Analysis C...

Price Price
$110.890
Owned Owned
Yes

WATCH
The next target is $1.12. If it gets through that, it will bring in a lot of room to $1.20 for the next resistance. We are getting the seasonal strength finally kicking in.
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The next target is $1.12. If it gets through that, it will bring in a lot of room to $1.20 for the next resistance. We are getting the seasonal strength finally kicking in.
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Hap (Robert) Sn

Chief Port, Castlemoore Inc....

Price Price
$111.320
Owned Owned
Unknown

SELL ON STRENGTH
Bought it a couple of years ago. He is looking for an exit. He doesn't own stocks that move from an uptrend. The story is over unless a miracle happens. He doesn't see any catalyst.
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Bought it a couple of years ago. He is looking for an exit. He doesn't own stocks that move from an uptrend. The story is over unless a miracle happens. He doesn't see any catalyst.
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Keith Richards

Portfolio , ValueTrend Wealth Ma...

Price Price
$109.230
Owned Owned
Yes

BUY
Valuation in the bank group is compelling. Only one with yield over 5%. Trading at 1.4x book, strong balance sheet. Negative has always been that it's domestic, and more exposed to the mortgage market. If your outlook is longer term, and you want the dividend, it's a good buy today.
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Valuation in the bank group is compelling. Only one with yield over 5%. Trading at 1.4x book, strong balance sheet. Negative has always been that it's domestic, and more exposed to the mortgage market. If your outlook is longer term, and you want the dividend, it's a good buy today.
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Michael Sprung

President, Sprung Investment Ma...

Price Price
$106.810
Owned Owned
Unknown

WATCH
The banks did not have their strong seasonal period recently and he reduced his holdings to just BMO-T. We are at a magic level here. It is banging into resistance right now. If we get above $105 it will be clear sailing to $110. BMO-T or TD-T are the best banks and CM-T is pretty good. We should have a second period of seasonality starting near the end of January until April.
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The banks did not have their strong seasonal period recently and he reduced his holdings to just BMO-T. We are at a magic level here. It is banging into resistance right now. If we get above $105 it will be clear sailing to $110. BMO-T or TD-T are the best banks and CM-T is pretty good. We should have a second period of seasonality starting near the end of January until April.
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Hap (Robert) Sn

Chief Port, Castlemoore Inc....

Price Price
$105.790
Owned Owned
No

HOLD
It was the worst performing bank stock in 2018. It should be the best this year on that basis. At these prices it is at or above 5% yield. It is one of the more domestic banks. The Canadian economy will not be the engine it was. The earnings momentum going forward will be linked to the Canadian economy. He is leaning outside of Canada for future bank investments.
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It was the worst performing bank stock in 2018. It should be the best this year on that basis. At these prices it is at or above 5% yield. It is one of the more domestic banks. The Canadian economy will not be the engine it was. The earnings momentum going forward will be linked to the Canadian economy. He is leaning outside of Canada for future bank investments.
banks
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Lyle Stein

Sr. Portfo, Vestcap Investment M...

Price Price
$101.920
Owned Owned
Yes

PAST TOP PICK
(A Top Pick Jan 19/18, Down 3%) Value stocks didn't work last year. All the banks have been weak. This was no exception.
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(A Top Pick Jan 19/18, Down 3%) Value stocks didn't work last year. All the banks have been weak. This was no exception.
banks
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Ross Healy

Chairman, Strategic Analysis C...

Price Price
$101.920
Owned Owned
Unknown

SELL ON STRENGTH
Was in an uptrend, he forgave the pullback. A lot of stocks have broken, not unique to CIBC. Switch directions, look for the old support level, and look to get out. He's going to get out on a bit of a rebound.
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Was in an uptrend, he forgave the pullback. A lot of stocks have broken, not unique to CIBC. Switch directions, look for the old support level, and look to get out. He's going to get out on a bit of a rebound.
banks
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Keith Richards

Portfolio , ValueTrend Wealth Ma...

Price Price
$101.310
Owned Owned
Yes

COMMENT
Seasonality should be kicking in for Canadian banks. CM needs to hold at $110, though historically its current $105 is a bottom. The banks and CIBC are very oversold. If CIBC breaks belwo $105, it could fall to the high-$90s.
banks
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Seasonality should be kicking in for Canadian banks. CM needs to hold at $110, though historically its current $105 is a bottom. The banks and CIBC are very oversold. If CIBC breaks belwo $105, it could fall to the high-$90s.
banks
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Hap (Robert) Sn

Chief Port, Castlemoore Inc....

Price Price
$105.180
Owned Owned
Unknown

DON'T BUY
He owns other Canadian banks. He prefers diversification, which CM lacks. As mortgages roll over, the sector will be challenged.
banks
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He owns other Canadian banks. He prefers diversification, which CM lacks. As mortgages roll over, the sector will be challenged.
banks
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Douglas Kee

Chief Inve, Leon Frazer & Associ...

Price Price
$105.180
Owned Owned
No

COMMENT
CM-T vs. BNS-T. There is a divergence in the Canadian banks between revenues sources and price to earnings and dividend yield. CM-T is latest to get into the US and BNS-T was more focused on Latin America. These two are trading at the most attractive valuations. The lower valuation is justified. There is something to be said about the stability of the US revenues with other Canadian banks.
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CM-T vs. BNS-T. There is a divergence in the Canadian banks between revenues sources and price to earnings and dividend yield. CM-T is latest to get into the US and BNS-T was more focused on Latin America. These two are trading at the most attractive valuations. The lower valuation is justified. There is something to be said about the stability of the US revenues with other Canadian banks.
banks
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Kash Pashootan

CEO & Chie, First Avenue Investm...

Price Price
$107.090
Owned Owned
Yes

TOP PICK
The most "Canadian" of Canadian banks, the most exposed to Canada (and our mortgage market). It's selling at quite a discount. Pays a high, solid ROE and pays a 5% dividend, the most of the big banks. They disappointed in the current quarter, so it's a good time to buy it. (Analysts’ price target is $128.93)
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The most "Canadian" of Canadian banks, the most exposed to Canada (and our mortgage market). It's selling at quite a discount. Pays a high, solid ROE and pays a 5% dividend, the most of the big banks. They disappointed in the current quarter, so it's a good time to buy it. (Analysts’ price target is $128.93)
banks
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Michael Sprung

President, Sprung Investment Ma...

Price Price
$106.770
Owned Owned
Yes

PAST TOP PICK
(A Top Pick Jan 19/18, Down 3%) It has performed better than the TSX as a whole. It was one of the cheapest banks at the time. He thinks the Canadian banks are the best in the world, due to its stringent regulations.
banks
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(A Top Pick Jan 19/18, Down 3%) It has performed better than the TSX as a whole. It was one of the cheapest banks at the time. He thinks the Canadian banks are the best in the world, due to its stringent regulations.
banks
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Ross Healy

Chairman, Strategic Analysis C...

Price Price
$107.470
Owned Owned
Yes

WAIT
Good entry point or wait? Stock used to be at the bottom of the heap, and then they did some very good things and has come back. No problem with the dividend, the quarter was an anomaly. You might want to wait before putting money in. He has great faith in the Canadian banks and how they operate worldwide. Yield is 4.9%.
banks
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Good entry point or wait? Stock used to be at the bottom of the heap, and then they did some very good things and has come back. No problem with the dividend, the quarter was an anomaly. You might want to wait before putting money in. He has great faith in the Canadian banks and how they operate worldwide. Yield is 4.9%.
banks
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David Cockfield

Managing D, Northland Wealth Man...

Price Price
$111.500
Owned Owned
No

BUY
They reported overall pretty good earnings. You have to be patient they've only recently entered the U.S market and it's going to take time. TD has the first-mover advantage there and they have benefited more significantly from the U.S. Thinks now is a good buying opportunity as a long return play. Historically anytime the yields of the Canadian banks get in the high 4-5% it's always been a great buying opportunity. Current yield is pushing up against that 5% number.
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They reported overall pretty good earnings. You have to be patient they've only recently entered the U.S market and it's going to take time. TD has the first-mover advantage there and they have benefited more significantly from the U.S. Thinks now is a good buying opportunity as a long return play. Historically anytime the yields of the Canadian banks get in the high 4-5% it's always been a great buying opportunity. Current yield is pushing up against that 5% number.
banks
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Kash Pashootan

CEO & Chie, First Avenue Investm...

Price Price
$112.460
Owned Owned
Unknown

DON'T BUY
Now should be a good time for Canadian banks; it's not happening which is a little worrying. Seasonally, CIBC does well in the first-half of a year, Jan. 14 - Apr. 14. It's enjoyed higher highs and lows in recent years. CIBC has come down during it seasonal strength (before earnings) and has resisted its 200-day moving avergage. This is concerning for the long term. He doesn't know if next week's earnings will be a catalyst.
banks
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Now should be a good time for Canadian banks; it's not happening which is a little worrying. Seasonally, CIBC does well in the first-half of a year, Jan. 14 - Apr. 14. It's enjoyed higher highs and lows in recent years. CIBC has come down during it seasonal strength (before earnings) and has resisted its 200-day moving avergage. This is concerning for the long term. He doesn't know if next week's earnings will be a catalyst.
banks
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Jon Vialoux

Research A, CastleMoore Inc....

Price Price
$113.680
Owned Owned
Unknown

BUY on WEAKNESS
All Canadian banks have been on a rollercoaster this year. Earlier this year, he bought this and Royal. It's a decent buy at current levels, but the rollercoaster isn't settled yet. Buy this with a 6-12-month view. This offers a solid dividend.
banks
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All Canadian banks have been on a rollercoaster this year. Earlier this year, he bought this and Royal. It's a decent buy at current levels, but the rollercoaster isn't settled yet. Buy this with a 6-12-month view. This offers a solid dividend.
banks
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Andrew Pyle

Senior wea, The Pyle Group, Scot...

Price Price
$114.710
Owned Owned
Yes

DON'T BUY
Canadian banks haven't done well, but they're undervalued now. CIBC is more domestic than its peers, which is why she doesn't own it. The housing market and trade (less of a concern now) are overhangs, but they have been oversold.
banks
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Canadian banks haven't done well, but they're undervalued now. CIBC is more domestic than its peers, which is why she doesn't own it. The housing market and trade (less of a concern now) are overhangs, but they have been oversold.
banks
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Christine Poole

CEO & Mana, GlobeInvest Capital ...

Price Price
$114.480
Owned Owned
No

BUY
A bunch of peaks and valleys, but the general chart trend is upward. It's good that each peak (and low) is higher than the last. Canadian banks are entering seasonality now. He favours BMO over CIBC though.
banks
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A bunch of peaks and valleys, but the general chart trend is upward. It's good that each peak (and low) is higher than the last. Canadian banks are entering seasonality now. He favours BMO over CIBC though.
banks
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Hap (Robert) Sn

Chief Port, Castlemoore Inc....

Price Price
$113.990
Owned Owned
Unknown

COMMENT
Still in a long term uptrend. The stock has gotten to a higher high but not to a lower low. He would eliminate his Canadian Bank position if it gets to a new high as a trade as he is getting less confident on Canadian Banks from a fundamental point of view.
banks
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Still in a long term uptrend. The stock has gotten to a higher high but not to a lower low. He would eliminate his Canadian Bank position if it gets to a new high as a trade as he is getting less confident on Canadian Banks from a fundamental point of view.
banks
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Keith Richards

Portfolio , ValueTrend Wealth Ma...

Price Price
$113.910
Owned Owned
Yes

BUY

His favourite is BMO-T.  There is a nice little trend here in CM-T.  This one and the group are back into favour.  If it breaks, then it goes back to $110.  Seasonality should kick in.  Investors are probably worried about Canadian real estate but he thinks we will do fairly well.

banks
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His favourite is BMO-T.  There is a nice little trend here in CM-T.  This one and the group are back into favour.  If it breaks, then it goes back to $110.  Seasonality should kick in.  Investors are probably worried about Canadian real estate but he thinks we will do fairly well.

banks
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Hap (Robert) Sn

Chief Port, Castlemoore Inc....

Price Price
$115.260
Owned Owned
Unknown

BUY

It has had a nice run.  They are newer to the US marketplace.  There is still juice left from that acquisition, to materialize.  He likes where they are and would be buying it here for the medium to long term.

banks
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It has had a nice run.  They are newer to the US marketplace.  There is still juice left from that acquisition, to materialize.  He likes where they are and would be buying it here for the medium to long term.

banks
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Kash Pashootan

CEO & Chie, First Avenue Investm...

Price Price
$122.320
Owned Owned
Yes

HOLD

One of the higher dividend yields of the Canadian banks.  He would be favoring Scotiabank, with the higher yield at the moment.  It has US and domestic exposure and he thinks the dividend will continue to grow.  He would continue to hold and collect the dividend.  Yield 4.4%.  

banks
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One of the higher dividend yields of the Canadian banks.  He would be favoring Scotiabank, with the higher yield at the moment.  It has US and domestic exposure and he thinks the dividend will continue to grow.  He would continue to hold and collect the dividend.  Yield 4.4%.  

banks
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Lyle Stein

Sr. Portfo, Vestcap Investment M...

Price Price
$123.530
Owned Owned
No

HOLD

His favourite bank is BMO. There's resistance at $120 now. Resistance happens in early-September and that'll likely happen this year too. Can't see the driver to move this forward. You won't suffer holding it. Also likes TD.

banks
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His favourite bank is BMO. There's resistance at $120 now. Resistance happens in early-September and that'll likely happen this year too. Can't see the driver to move this forward. You won't suffer holding it. Also likes TD.

banks
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Hap (Robert) Sn

Chief Port, Castlemoore Inc....

Price Price
$122.560
Owned Owned
Unknown

HOLD

They are big into mortgages.  They have balanced their business and sees no hesitation in owing it.   He owns other Canadian banks that have a better growth outlook.   

banks
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They are big into mortgages.  They have balanced their business and sees no hesitation in owing it.   He owns other Canadian banks that have a better growth outlook.   

banks
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Rick Stuchberry

Portfolio , Wellington-Altus Pri...

Price Price
$123.230
Owned Owned
No

BUY

It has been in an uptrend.  Just entering into the buy season for the Canadian banks.  Typically performs well from October until the end of the year.  The trend is good and he is still holding it.

banks
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It has been in an uptrend.  Just entering into the buy season for the Canadian banks.  Typically performs well from October until the end of the year.  The trend is good and he is still holding it.

banks
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Keith Richards

Portfolio , ValueTrend Wealth Ma...

Price Price
$122.590
Owned Owned
Yes

BUY

He likes it.  The move into the US was timely.  They took some risk off the table.  He thinks they are in the early stages of realizing the benefits of that US exposure.  They might be vulnerable to a pullback but there is upside over the next 3-5 years. 

banks
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He likes it.  The move into the US was timely.  They took some risk off the table.  He thinks they are in the early stages of realizing the benefits of that US exposure.  They might be vulnerable to a pullback but there is upside over the next 3-5 years. 

banks
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Kash Pashootan

CEO & Chie, First Avenue Investm...

Price Price
$122.400
Owned Owned
Unknown

TOP PICK

They are executing well in the US.  They are in the early stages.  We are in the early stages of enjoying the benefits of their acquisitions.  (Analysts’ target: $130.33).

banks
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They are executing well in the US.  They are in the early stages.  We are in the early stages of enjoying the benefits of their acquisitions.  (Analysts’ target: $130.33).

banks
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Kash Pashootan

CEO & Chie, First Avenue Investm...

Price Price
$117.850
Owned Owned
Unknown

COMMENT

It has the largest mortgage portfolio in Canada, and 20% of Canadians are stressed about their mortgages. This probably is pressuring this stock, but he sees nothing wrong with CIBC. When the market rises, so will the banks.

banks
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It has the largest mortgage portfolio in Canada, and 20% of Canadians are stressed about their mortgages. This probably is pressuring this stock, but he sees nothing wrong with CIBC. When the market rises, so will the banks.

banks
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Rick Stuchberry

Portfolio , Wellington-Altus Pri...

Price Price
$115.870
Owned Owned
Unknown

HOLD

Housing could be an issue but CIBC is bearing the brunt of it.  They are at the high end of the six big banks.  He would rather buy it at lower rather than higher prices.  Growth will probably not be there as in the last months. 

banks
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Housing could be an issue but CIBC is bearing the brunt of it.  They are at the high end of the six big banks.  He would rather buy it at lower rather than higher prices.  Growth will probably not be there as in the last months. 

banks
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Lyle Stein

Sr. Portfo, Vestcap Investment M...

Price Price
$114.990
Owned Owned
Yes

WEAK BUY

Even with a bad period, Canadian banks always bounce back. Buy the best of breed--TD, Scotia, Royal. But CIBC isn't in the top tier. That said, all the Canadian banks more or less trade in line over time. You can buy this, but there are
better Canadian banks.

banks
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Even with a bad period, Canadian banks always bounce back. Buy the best of breed--TD, Scotia, Royal. But CIBC isn't in the top tier. That said, all the Canadian banks more or less trade in line over time. You can buy this, but there are
better Canadian banks.

banks
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0 comments
Michael Decter

President , Lawrence Decter Inve...

Price Price
$114.990
Owned Owned
Unknown

WATCH

Interest rates are rising and investors are doubting the stock. Also, the Canadian housing market is still correcting, ando ur household debt to income is the highest among industrialized countries. Their chart is not bearish, but it's lost upside momentum. Wait until it tests $104 again and whether it holds--then dip your toe in.

banks
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Interest rates are rising and investors are doubting the stock. Also, the Canadian housing market is still correcting, ando ur household debt to income is the highest among industrialized countries. Their chart is not bearish, but it's lost upside momentum. Wait until it tests $104 again and whether it holds--then dip your toe in.

banks
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William Chin

Portfolio , Caldwell Investment ...

Price Price
$113.240
Owned Owned
Unknown

PAST TOP PICK

(A Top Pick April 28/17 Up 7%)   Their exposure to mortgages is causing some possible headwinds in a rising interest rate environment – due to the risk of higher defaults.  Their capital ratio is a little over 11% and they have good cost control.  It remains a good core holding.  Yield 4.7%. 

banks
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(A Top Pick April 28/17 Up 7%)   Their exposure to mortgages is causing some possible headwinds in a rising interest rate environment – due to the risk of higher defaults.  Their capital ratio is a little over 11% and they have good cost control.  It remains a good core holding.  Yield 4.7%. 

banks
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Michael Sprung

President, Sprung Investment Ma...

Price Price
$112.960
Owned Owned
Yes

COMMENT

 Despite an earnings beat the share price is down almost 2%.  The concern today is about mortgage origination.  CM-T has large exposure to the residential mortgage market.  This trend is scary for the sector as a whole.

banks
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 Despite an earnings beat the share price is down almost 2%.  The concern today is about mortgage origination.  CM-T has large exposure to the residential mortgage market.  This trend is scary for the sector as a whole.

banks
0 0 0 0 0
0 comments
Brooke Thackray

Research A, Horizons ETFs (Canad...

Price Price
$115.090
Owned Owned
No

DON'T BUY

Banks in the US had good numbers but the stocks are all down.  So how much of the higher interest rates are already baked into the numbers.  Loan loss provisions are at low levels.  People are concerned about defaults.  He has not been adding banks.  This one's yield is higher than most, but he is not jumping up and down to buy more and is looking to expand elsewhere.

banks
0 0 0 0 0
0 comments

Banks in the US had good numbers but the stocks are all down.  So how much of the higher interest rates are already baked into the numbers.  Loan loss provisions are at low levels.  People are concerned about defaults.  He has not been adding banks.  This one's yield is higher than most, but he is not jumping up and down to buy more and is looking to expand elsewhere.

banks
0 0 0 0 0
0 comments
Lyle Stein

Sr. Portfo, Vestcap Investment M...

Price Price
$111.980
Owned Owned
Yes

BUY

One of his larger bank holdings.  There is a perception that they are more exposed to Canadian retail and mortgages, which is somewhat true.  It trades at a reasonable multiple of book and is well capitalized, so he is quite content to hold it.  Their last quarter was pretty good.

banks
0 0 0 0 0
0 comments

One of his larger bank holdings.  There is a perception that they are more exposed to Canadian retail and mortgages, which is somewhat true.  It trades at a reasonable multiple of book and is well capitalized, so he is quite content to hold it.  Their last quarter was pretty good.

banks
0 0 0 0 0
0 comments
Michael Sprung

President, Sprung Investment Ma...

Price Price
$110.520
Owned Owned
Yes

WEAK BUY

After a long consolidation, it is in a healthy up channel making higher highs and higher lows he says. Try to buy below the midpoint of the up-channel to reduce your risk of entry. 

banks
0 0 0 0 0
0 comments

After a long consolidation, it is in a healthy up channel making higher highs and higher lows he says. Try to buy below the midpoint of the up-channel to reduce your risk of entry. 

banks
0 0 0 0 0
0 comments
William Chin

Portfolio , Caldwell Investment ...

Price Price
$117.050
Owned Owned
Unknown

DON'T BUY

The Canadian banks have done incredibly well since the recession. They offer great dividends, but how much further can they go? The bottom lines are phenomenal, but he is concerned that the banks might be making too much money. There is a risk of overexpanding -- banks often do stupid things when they have a lot of money coming in, resulting in huge writedowns. Therefore he would not buy any of the Canadian banks at this time. With interest rates going up, this is good for the banks, but the economy will turn. Remember 2008/2009 when you could have these stocks for a pittance--this will happen again.

banks
0 0 0 0 0
0 comments

The Canadian banks have done incredibly well since the recession. They offer great dividends, but how much further can they go? The bottom lines are phenomenal, but he is concerned that the banks might be making too much money. There is a risk of overexpanding -- banks often do stupid things when they have a lot of money coming in, resulting in huge writedowns. Therefore he would not buy any of the Canadian banks at this time. With interest rates going up, this is good for the banks, but the economy will turn. Remember 2008/2009 when you could have these stocks for a pittance--this will happen again.

banks
0 0 0 0 0
0 comments
Benj Gallander

President, Contra the Heard Inv...

Price Price
$119.280
Owned Owned
Unknown

HOLD

He is a fan of this company.  Canadian banks are not cheap, nor are they expensive.  He likes Bank of America (BAC-N) better as they are only paying out 20% of earnings versus up to 50% for CM-T.  Yield 4.5%.

banks
0 0 0 0 0
0 comments

He is a fan of this company.  Canadian banks are not cheap, nor are they expensive.  He likes Bank of America (BAC-N) better as they are only paying out 20% of earnings versus up to 50% for CM-T.  Yield 4.5%.

banks
0 0 0 0 0
0 comments
Brian Acker, CA

Chief Exec, Acker Finley Inc....

Price Price
$119.000
Owned Owned
Unknown

COMMENT

Hold CIBC (CM-T) or Cooper Tire & Rubber (CTB-N) in TFSA? CIBC for constant dividend growth and those dividends will compound without getting taxed.

banks
0 0 0 0 0
0 comments

Hold CIBC (CM-T) or Cooper Tire & Rubber (CTB-N) in TFSA? CIBC for constant dividend growth and those dividends will compound without getting taxed.

banks
0 0 0 0 0
0 comments
David Baskin

President, Baskin Wealth Manage...

Price Price
$114.710
Owned Owned
Unknown

COMMENT

Will it split? He loves to see splits to be retail friendly. Doesn't see a split here.

banks
0 0 0 0 0
0 comments

Will it split? He loves to see splits to be retail friendly. Doesn't see a split here.

banks
0 0 0 0 0
0 comments
Elliott Fishman

Director o, Trading Services Gro...

Price Price
$114.680
Owned Owned
Unknown

BUY

He thinks CIBC is one of the two best opportunities in the financial space in Canada, on a valuation basis. The other is National Bank (NA-T). With the selloff, CIBC currently trades at about 10 times, giving about a 4.5% yield. It is difficult to think of an environment in which a Canadian would not have this stock in their portfolio. You can enhance your return by buying at opportune times. This pullback gives a good buying opportunity.

banks
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He thinks CIBC is one of the two best opportunities in the financial space in Canada, on a valuation basis. The other is National Bank (NA-T). With the selloff, CIBC currently trades at about 10 times, giving about a 4.5% yield. It is difficult to think of an environment in which a Canadian would not have this stock in their portfolio. You can enhance your return by buying at opportune times. This pullback gives a good buying opportunity.

banks
0 0 0 0 0
0 comments
Kash Pashootan

CEO & Chie, First Avenue Investm...

Price Price
$116.050
Owned Owned
Yes

WATCH

This is the strong seasonal period for Canada banks until mid-April.  They are doing well this year, but have not had that strong uplift we expect.  CM-T should come down to about $104.  It will underperform because it has less US exposure.  He would wait for strength before jumping in.

banks
0 0 0 0 0
0 comments

This is the strong seasonal period for Canada banks until mid-April.  They are doing well this year, but have not had that strong uplift we expect.  CM-T should come down to about $104.  It will underperform because it has less US exposure.  He would wait for strength before jumping in.

banks
0 0 0 0 0
0 comments
Brooke Thackray

Research A, Horizons ETFs (Canad...

Price Price
$115.820
Owned Owned
Unknown

BUY

He bought it a while ago, likes the chart. After the TSX settles out from this correction, the TSX might rally well in the spring and a rally in the TSX will include the bank stocks. Buy after the correction.

banks
0 0 0 0 0
0 comments

He bought it a while ago, likes the chart. After the TSX settles out from this correction, the TSX might rally well in the spring and a rally in the TSX will include the bank stocks. Buy after the correction.

banks
0 0 0 0 0
0 comments
Keith Richards

Portfolio , ValueTrend Wealth Ma...

Price Price
$115.820
Owned Owned
Yes

WEAK BUY

Banks have been played as investments that win in a rising interest rate environment.  You only get a 3% yield but as bonds goes up they looks more attractive.  He does not think dividends will grow as fast as in the past.

banks
0 0 0 0 0
0 comments

Banks have been played as investments that win in a rising interest rate environment.  You only get a 3% yield but as bonds goes up they looks more attractive.  He does not think dividends will grow as fast as in the past.

banks
0 0 0 0 0
0 comments
Lyle Stein

Sr. Portfo, Vestcap Investment M...

Price Price
$121.040
Owned Owned
Yes

BUY

A good commercial bank. It has improved in the later years concentrating more on the retail side and not trying to be an investment bank. They bought a bank in the US and they had to pay more than they expected. They are executing particularly well though on that acquisition. Cost structures continue to come down. Banking is changing in general like retail is.

banks
0 0 0 0 0
0 comments

A good commercial bank. It has improved in the later years concentrating more on the retail side and not trying to be an investment bank. They bought a bank in the US and they had to pay more than they expected. They are executing particularly well though on that acquisition. Cost structures continue to come down. Banking is changing in general like retail is.

banks
0 0 0 0 0
0 comments
Paul Harris, CF

Portfolio , Avenue Investment Ma...

Price Price
$121.040
Owned Owned
No

HOLD

All Canadian banks have been home runs since the financial crisis. They are all in slightly different businesses. Toronto Dominion (TD-T) is more in the US, Royal (RY-T) is more in capital markets, etc. This one is more of a domestic bank and focused on retail and wealth management, so they are a bit less dynamic. If you own, hang onto it and just leave it alone. The banks are in good shape, as long as the Canadian consumer credit situation holds up.

banks
0 0 0 0 0
0 comments

All Canadian banks have been home runs since the financial crisis. They are all in slightly different businesses. Toronto Dominion (TD-T) is more in the US, Royal (RY-T) is more in capital markets, etc. This one is more of a domestic bank and focused on retail and wealth management, so they are a bit less dynamic. If you own, hang onto it and just leave it alone. The banks are in good shape, as long as the Canadian consumer credit situation holds up.

banks
0 0 0 0 0
0 comments
Lorne Steinberg

President , Lorne Steinberg Weal...

Price Price
$121.600
Owned Owned
Unknown

HOLD

They have lagged a lot of the other banks in the last couple of years but management has done wise things.  They pushed into the US with wealth business.  The more exposure to the US economy the better.  It has always had the lowest multiple and the highest yield, so there is no reason to jump ship right now.

banks
0 0 0 0 0
0 comments

They have lagged a lot of the other banks in the last couple of years but management has done wise things.  They pushed into the US with wealth business.  The more exposure to the US economy the better.  It has always had the lowest multiple and the highest yield, so there is no reason to jump ship right now.

banks
0 0 0 0 0
0 comments
Don Lato

President, Padlock Investment M...

Price Price
$121.930
Owned Owned
Unknown

HOLD

They have lagged a lot of the other banks in the last couple of years but management has done wise things.  They pushed into the US with wealth business.  The more exposure to the US economy the better.  It has always had the lowest multiple and the highest yield, so there is no reason to jump ship right now.

banks
0 0 0 0 0
0 comments

They have lagged a lot of the other banks in the last couple of years but management has done wise things.  They pushed into the US with wealth business.  The more exposure to the US economy the better.  It has always had the lowest multiple and the highest yield, so there is no reason to jump ship right now.

banks
0 0 0 0 0
0 comments
Don Lato

President, Padlock Investment M...

Price Price
$121.930
Owned Owned
Unknown

TOP PICK

Dividend yield of 4.3%. (Analysts' price target is $130.)

banks
0 0 0 0 0
0 comments

Dividend yield of 4.3%. (Analysts' price target is $130.)

banks
0 0 0 0 0
0 comments
Ross Healy

Chairman, Strategic Analysis C...

Price Price
$122.530
Owned Owned
Yes

COMMENT

Management is still doing a phenomenal job and it is still the highest yielding bank. All 5 Canadian banks are something he is interested in. It’s a horserace between all 5, as they are all great. He owns Royal Bank (RY-T) and Bank of Nova Scotia (BNS-T).

banks
0 0 0 0 0
0 comments

Management is still doing a phenomenal job and it is still the highest yielding bank. All 5 Canadian banks are something he is interested in. It’s a horserace between all 5, as they are all great. He owns Royal Bank (RY-T) and Bank of Nova Scotia (BNS-T).

banks
0 0 0 0 0
0 comments
Mike S. Newton,

Director &, Scotia Wealth Manage...

Price Price
$123.020
Owned Owned
No

COMMENT

On their acquisition of Private Bank Corp, did they pay too much? They probably did. They were under pressure as they were one of the few Canadian banks that had nothing in the US. The US bank stocks took off and they ended up paying more for it. The acquisition helped their last quarter. On their other numbers, they have done well.

banks
0 0 0 0 0
0 comments

On their acquisition of Private Bank Corp, did they pay too much? They probably did. They were under pressure as they were one of the few Canadian banks that had nothing in the US. The US bank stocks took off and they ended up paying more for it. The acquisition helped their last quarter. On their other numbers, they have done well.

banks
0 0 0 0 0
0 comments
Paul Harris, CF

Portfolio , Avenue Investment Ma...

Price Price
$122.540
Owned Owned
Unknown

COMMENT

This just broke out to an all-time high. Canadian bank stocks have very distinct seasonality. Historically they have gone up as you get close to the end of the year. Normally they peak around the end of December. This year we have had an extension which has taken it into a higher level and an all-time high. Stocks like this, once they get into a new year, have a tendency to have an underperformance in the new year, the beginning of January through to the end of March.

banks
0 0 0 0 0
0 comments

This just broke out to an all-time high. Canadian bank stocks have very distinct seasonality. Historically they have gone up as you get close to the end of the year. Normally they peak around the end of December. This year we have had an extension which has taken it into a higher level and an all-time high. Stocks like this, once they get into a new year, have a tendency to have an underperformance in the new year, the beginning of January through to the end of March.

banks
0 0 0 0 0
0 comments
Don Vialoux

Research A, TimingTheMarket.CA &...

Price Price
$123.110
Owned Owned
Unknown

COMMENT

Canadian banks are a core part of anyone’s portfolio. Lots of positive stuff about them. CIBC was one of the two banks who beat expectation in last earnings. We see Canadian banks outperform from August after Q3 earnings and have to see strong earnings in Q4; otherwise they tend to underperform. Seeing some softness in the general banks. Sold their Canadian financial sector positions at the end of November. Looking to get back in the sector late January. On the technical basis, breaking above $125 or so would be positive technically. Right now, banks can still move up. It’s not that they aren’t positive at this time of the year, but it’s just that they tend to underperform the TSX Composite at the moment.

banks
0 0 0 0 0
0 comments

Canadian banks are a core part of anyone’s portfolio. Lots of positive stuff about them. CIBC was one of the two banks who beat expectation in last earnings. We see Canadian banks outperform from August after Q3 earnings and have to see strong earnings in Q4; otherwise they tend to underperform. Seeing some softness in the general banks. Sold their Canadian financial sector positions at the end of November. Looking to get back in the sector late January. On the technical basis, breaking above $125 or so would be positive technically. Right now, banks can still move up. It’s not that they aren’t positive at this time of the year, but it’s just that they tend to underperform the TSX Composite at the moment.

banks
0 0 0 0 0
0 comments
Brooke Thackray

Research A, Horizons ETFs (Canad...

Price Price
$121.650
Owned Owned
Unknown

COMMENT

This and Bank of Montréal (BMO-T) are similar in that, year to date they haven’t done much. Trading at somewhat of a discount to the others. He likes this one, but wouldn’t bet the farm on one bank only.

banks
0 0 0 0 0
0 comments

This and Bank of Montréal (BMO-T) are similar in that, year to date they haven’t done much. Trading at somewhat of a discount to the others. He likes this one, but wouldn’t bet the farm on one bank only.

banks
0 0 0 0 0
0 comments
Kash Pashootan

CEO & Chie, First Avenue Investm...

Price Price
$119.000
Owned Owned
Yes

DON'T BUY

It has been the dramatically underperforming bank of the big six.  Have they really changed?  Is their step into the US too late?  He suggests you look at fundamental research.  If you look at the highs of last April he wonders how much more upside there is on this one than that.  He is underweight Canadian banks.  He would not chase it higher.

banks
0 0 0 0 0
0 comments

It has been the dramatically underperforming bank of the big six.  Have they really changed?  Is their step into the US too late?  He suggests you look at fundamental research.  If you look at the highs of last April he wonders how much more upside there is on this one than that.  He is underweight Canadian banks.  He would not chase it higher.

banks
0 0 0 0 0
0 comments
Larry Berman CF

Chief Inve, ETF Capital Manageme...

Price Price
$120.340
Owned Owned
Unknown

BUY on WEAKNESS

He did not look at CM-T as an acquisition play.  It was a great place in the banking space.  This quarter they showed the benefits of their cost cutting measures.  It still trades at a very low multiple.  He likes the yield that they will grow.  He would not buy it today but he still thinks it has legs to run.

banks
1 0 0 0 0
0 comments

He did not look at CM-T as an acquisition play.  It was a great place in the banking space.  This quarter they showed the benefits of their cost cutting measures.  It still trades at a very low multiple.  He likes the yield that they will grow.  He would not buy it today but he still thinks it has legs to run.

banks
1 0 0 0 0
0 comments
Lyle Stein

Sr. Portfo, Vestcap Investment M...

Price Price
$121.200
Owned Owned
Unknown

BUY on WEAKNESS

Like all banks, this has been doing quite well. However, he understands this is not the best performing bank stock out there. If you like this, wait for a dip before buying. The trend is healthy, but try to buy it cheaper.

banks
0 0 0 0 0
0 comments

Like all banks, this has been doing quite well. However, he understands this is not the best performing bank stock out there. If you like this, wait for a dip before buying. The trend is healthy, but try to buy it cheaper.

banks
0 0 0 0 0
0 comments
William Chin

Portfolio , Caldwell Investment ...

Price Price
$114.560
Owned Owned
Unknown

BUY on WEAKNESS

Just had a tougher quarter last quarter with Private Bank Corp results coming in a little bit messy. Their balance sheet isn't as good as the other banks right now. For a 3-5 year hold, he is seeing 4% EPS growth. Trades at a 15% discount to the rest of the banks. Banks are at overbought levels, but are still relatively cheap. On a little bit of a pullback, you could buy this.

banks
0 0 0 0 0
0 comments

Just had a tougher quarter last quarter with Private Bank Corp results coming in a little bit messy. Their balance sheet isn't as good as the other banks right now. For a 3-5 year hold, he is seeing 4% EPS growth. Trades at a 15% discount to the rest of the banks. Banks are at overbought levels, but are still relatively cheap. On a little bit of a pullback, you could buy this.

banks
0 0 0 0 0
0 comments
Greg Newman

Director &, Scotia Wealth Manage...

Price Price
$114.110
Owned Owned
Unknown

COMMENT

Probably paid too much for the US acquisition, but had no choice in order to compete with other Canadian banks. This is not expensive and pays a nice dividend. They have a relatively good Canadian franchise. If you see any slippage in this bank, it will probably come from the US acquisition side. Dividend yield of 4.6%.

banks
0 0 0 0 0
0 comments

Probably paid too much for the US acquisition, but had no choice in order to compete with other Canadian banks. This is not expensive and pays a nice dividend. They have a relatively good Canadian franchise. If you see any slippage in this bank, it will probably come from the US acquisition side. Dividend yield of 4.6%.

banks
0 0 0 0 0
0 comments
Paul Harris, CF

Portfolio , Avenue Investment Ma...

Price Price
$113.720
Owned Owned
Unknown

BUY

This is right up there with the cheapest in Canadian banks. There are some questions or a “wait and see” on their US acquisition and how it rolls out. If you have a longer-term time horizon, these are the opportunities that you can look back on and be thankful for. You are getting paid while you wait, and are buying it at a great valuation.

banks
0 0 0 0 0
0 comments

This is right up there with the cheapest in Canadian banks. There are some questions or a “wait and see” on their US acquisition and how it rolls out. If you have a longer-term time horizon, these are the opportunities that you can look back on and be thankful for. You are getting paid while you wait, and are buying it at a great valuation.

banks
0 0 0 0 0
0 comments
Kash Pashootan

CEO & Chie, First Avenue Investm...

Price Price
$113.560
Owned Owned
Unknown

DON'T BUY

He places a lot of value on a management team and this one has done a great job of turning them around.  It is a long term potential opportunity but with a high domestic focus.

banks
0 0 0 0 0
0 comments

He places a lot of value on a management team and this one has done a great job of turning them around.  It is a long term potential opportunity but with a high domestic focus.

banks
0 0 0 0 0
0 comments
Danesh Rohinton

Portfolio , Cambridge Global Ass...

Price Price
$113.550
Owned Owned
No

COMMENT

Canadian banks are really interesting in that after their good August earnings, they stumbled. They’ve now picked up and have rocketed. Canadian banks typically do well from Oct 10 into December. Chart shows this was in a channel, but has now broken out, which is very positive. He wouldn’t be surprised to see it go back to the high it had earlier in the year.

banks
0 0 0 0 0
0 comments

Canadian banks are really interesting in that after their good August earnings, they stumbled. They’ve now picked up and have rocketed. Canadian banks typically do well from Oct 10 into December. Chart shows this was in a channel, but has now broken out, which is very positive. He wouldn’t be surprised to see it go back to the high it had earlier in the year.

banks
0 0 0 0 0
0 comments
Brooke Thackray

Research A, Horizons ETFs (Canad...

Price Price
$113.270
Owned Owned
Unknown

COMMENT

This has done reasonably well. As we know, banks are a protected species in Canada. Chart is showing a series of higher lows and higher highs, and feels this could go a little higher. The chart looks pretty good.

banks
0 0 0 0 0
0 comments

This has done reasonably well. As we know, banks are a protected species in Canada. Chart is showing a series of higher lows and higher highs, and feels this could go a little higher. The chart looks pretty good.

banks
0 0 0 0 0
0 comments
William Chin

Portfolio , Caldwell Investment ...

Price Price
$112.580
Owned Owned
Unknown

TOP PICK

They are far more levered to housing and mortgages.  It has not come back to the old highs.  They are good at what they do.  It is the most unloved and the lowest PE bank.  (Analysts’ target: $118).

banks
0 0 0 0 0
0 comments

They are far more levered to housing and mortgages.  It has not come back to the old highs.  They are good at what they do.  It is the most unloved and the lowest PE bank.  (Analysts’ target: $118).

banks
0 0 0 0 0
0 comments
Keith Richards

Portfolio , ValueTrend Wealth Ma...

Price Price
$112.270
Owned Owned
Yes

COMMENT

This continues to be a good time to own Canadian financials. Unfortunately, this is one of the weakest right now given their capital ratios and unproven results with their new private bank corp. They have to prove themselves somewhat. Trades at about a 15% discount to its peers, which is reflected in the price. All the Canadian banks are going to go higher. 3.8% dividend yield.

banks
0 0 0 0 0
0 comments

This continues to be a good time to own Canadian financials. Unfortunately, this is one of the weakest right now given their capital ratios and unproven results with their new private bank corp. They have to prove themselves somewhat. Trades at about a 15% discount to its peers, which is reflected in the price. All the Canadian banks are going to go higher. 3.8% dividend yield.

banks
0 0 0 0 0
0 comments
Greg Newman

Director &, Scotia Wealth Manage...

Price Price
$109.110
Owned Owned
Unknown

BUY

This has 2 periods of seasonal strength during the year, and one of them just started in the last 2 weeks. Bank stocks do very well from approximately the beginning of September right through until the end of November. That is when banks report their 4th quarter results. Look for the stock to test the previous high during its current period of seasonal strength.

banks
0 0 0 0 0
0 comments

This has 2 periods of seasonal strength during the year, and one of them just started in the last 2 weeks. Bank stocks do very well from approximately the beginning of September right through until the end of November. That is when banks report their 4th quarter results. Look for the stock to test the previous high during its current period of seasonal strength.

banks
0 0 0 0 0
0 comments
Don Vialoux

Research A, TimingTheMarket.CA &...

Price Price
$109.410
Owned Owned
Unknown

BUY

He would recommend this at these levels. The average multiple tends to be just short of 12X earnings for the banks. The acquisition in the US was a good move. Over time, it will make investors feel more comfortable that there is some diversification out of Canada. Feels there is some room for multiple expansion. Dividend yield of 4.9%.

banks
0 0 0 0 0
0 comments

He would recommend this at these levels. The average multiple tends to be just short of 12X earnings for the banks. The acquisition in the US was a good move. Over time, it will make investors feel more comfortable that there is some diversification out of Canada. Feels there is some room for multiple expansion. Dividend yield of 4.9%.

banks
0 0 0 0 0
0 comments
Nick Majendie

Director &, Scotia Wealth Manage...

Price Price
$107.680
Owned Owned
Unknown

COMMENT

Probably one of the better capitalized banks, although in the last round of earnings, it fell from being at the very top tier, but it is still very well capitalized. Has a very good dividend which is approaching 5%. On a P/B basis, it is looking like one of the more reasonable priced banks. He likes the combination of a high ROE and low P/B with a prospective growing dividend stream going forward.

banks
0 0 0 0 0
0 comments

Probably one of the better capitalized banks, although in the last round of earnings, it fell from being at the very top tier, but it is still very well capitalized. Has a very good dividend which is approaching 5%. On a P/B basis, it is looking like one of the more reasonable priced banks. He likes the combination of a high ROE and low P/B with a prospective growing dividend stream going forward.

banks
0 0 0 0 0
0 comments
Michael Sprung

President, Sprung Investment Ma...

Price Price
$107.120
Owned Owned
Yes

COMMENT

One of the more domestically focused Canadian banks without large US/international operations. There has been a lot of concern about the Canadian housing market and concerns over loan losses, etc., which would affect this bank a little more than some of its peers. Also, foreign investors have taken a negative view on Canadian housing. Also, a lot of people feel US banks are good value. He favours US banks over Canadian banks.

banks
0 0 0 0 0
0 comments

One of the more domestically focused Canadian banks without large US/international operations. There has been a lot of concern about the Canadian housing market and concerns over loan losses, etc., which would affect this bank a little more than some of its peers. Also, foreign investors have taken a negative view on Canadian housing. Also, a lot of people feel US banks are good value. He favours US banks over Canadian banks.

banks
0 0 0 0 0
0 comments
Colin Stewart

CEO & Port, JC Clark Investments...

Price Price
$104.540
Owned Owned
Unknown

COMMENT

People are concerned about the size of the mortgage portfolio.  Earnings growth is expected to be modest this year.  7% next year.  A 9 times PE is pretty cheap, but a 7.4% free cash flow restricts dividend increases.

banks
0 0 0 0 0
0 comments

People are concerned about the size of the mortgage portfolio.  Earnings growth is expected to be modest this year.  7% next year.  A 9 times PE is pretty cheap, but a 7.4% free cash flow restricts dividend increases.

banks
0 0 0 0 0
0 comments
Robert McWhirte

President, Selective Asset Mana...

Price Price
$105.920
Owned Owned
Unknown

WAIT

Seasonal strength is the end of September until the end of November.  But the banks move lower as we move into September.  After this dip, the seasonality takes over.

banks
0 0 0 0 0
0 comments

Seasonal strength is the end of September until the end of November.  But the banks move lower as we move into September.  After this dip, the seasonality takes over.

banks
0 0 0 0 0
0 comments
Don Vialoux

Research A, TimingTheMarket.CA &...

Price Price
$105.920
Owned Owned
Unknown

BUY

It has been a laggard for a cycle or so (30 years).  They just had a better quarter.  This one might go up more than the others.  He thinks there is no reason not to own this one.

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It has been a laggard for a cycle or so (30 years).  They just had a better quarter.  This one might go up more than the others.  He thinks there is no reason not to own this one.

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Rick Stuchberry

Portfolio , Wellington-Altus Pri...

Price Price
$105.570
Owned Owned
No

DON'T BUY

He does not follow the banks too closely.  This one has always been the cheap bank on the street.  He prefers TD-T and BNS-T much better for international operations.  CM-T has almost blown it a couple of times in history.

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He does not follow the banks too closely.  This one has always been the cheap bank on the street.  He prefers TD-T and BNS-T much better for international operations.  CM-T has almost blown it a couple of times in history.

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Peter Hodson

CEO & Head, 5i Research Inc....

Price Price
$106.480
Owned Owned
Unknown

DON'T BUY

(Market Call Minute)  Not on his buy list of banks it is number 4 or 5.

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(Market Call Minute)  Not on his buy list of banks it is number 4 or 5.

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David Baskin

President, Baskin Wealth Manage...

Price Price
$106.480
Owned Owned
No

WEAK BUY

The high beta Canadian bank.  They have most of their expsosure to Canada.  They put on the most new Canadian mortgages over the last two years.  If you are confident that everything is okay then it is fine.  He as a different pick in the Top Picks today.

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The high beta Canadian bank.  They have most of their expsosure to Canada.  They put on the most new Canadian mortgages over the last two years.  If you are confident that everything is okay then it is fine.  He as a different pick in the Top Picks today.

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Bruce Campbell

President, Campbell and Lee Inv...

Price Price
$106.670
Owned Owned
No

BUY on WEAKNESS

There were a lot of Shorts between mid-July and the end of July, related to the closing of their US acquisition. This is probably the most domestic of the Canadian banks, and given all the concerns about the Canadian housing market, that has also caused problems. Dividend yield of 4.9% is a great income stream. This bank has an ability to grow, and you are not overpaying for it. He would like to get it in a bit more of a downturn.

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There were a lot of Shorts between mid-July and the end of July, related to the closing of their US acquisition. This is probably the most domestic of the Canadian banks, and given all the concerns about the Canadian housing market, that has also caused problems. Dividend yield of 4.9% is a great income stream. This bank has an ability to grow, and you are not overpaying for it. He would like to get it in a bit more of a downturn.

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Lyle Stein

Sr. Portfo, Vestcap Investment M...

Price Price
$109.280
Owned Owned
Yes

WEAK BUY

RY-T vs. CM-T.  CM-T is cheaper.  The PE is 9 vs. RY-T at 12.  The market and street are starting to blend in a discount to CM-T because of the housing market as they are the most exposed.  He would still hang his hat on RY-T because their global and domestic franchises are fantastic.  They are trying to get into the US right now although are late to the game.  He would still go for RY-T because it is more defensive.

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RY-T vs. CM-T.  CM-T is cheaper.  The PE is 9 vs. RY-T at 12.  The market and street are starting to blend in a discount to CM-T because of the housing market as they are the most exposed.  He would still hang his hat on RY-T because their global and domestic franchises are fantastic.  They are trying to get into the US right now although are late to the game.  He would still go for RY-T because it is more defensive.

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Paul Gardner, C

Partner an, Avenue Investment Ma...

Price Price
$108.290
Owned Owned
Unknown

COMMENT

This is early days and we don’t know how their US acquisition is going to work out. It has the largest proportion of assets in mortgages, which might be a negative going into a recession if we have a real estate correction.

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This is early days and we don’t know how their US acquisition is going to work out. It has the largest proportion of assets in mortgages, which might be a negative going into a recession if we have a real estate correction.

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Veronika Hirsch

Chief Inve, Arrow Capital...

Price Price
$108.930
Owned Owned
Unknown

COMMENT

It is more of a case of what is going on with the Canadian central bank and what the rate increase will mean for the banks.  The rate increase is positive for them.  They can actually charge more for money, but won’t have to pay any more for it to customers.  The prime mortgage rate went up by a quarter of a percent.  CWB-T has the biggest net impact from this increase.  CM-T will be impacted by rate increases in how they impact the housing market.  Weakness in the industry could be an issue for them.

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It is more of a case of what is going on with the Canadian central bank and what the rate increase will mean for the banks.  The rate increase is positive for them.  They can actually charge more for money, but won’t have to pay any more for it to customers.  The prime mortgage rate went up by a quarter of a percent.  CWB-T has the biggest net impact from this increase.  CM-T will be impacted by rate increases in how they impact the housing market.  Weakness in the industry could be an issue for them.

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Brendan Caldwel

President, Caldwell Securities...

Price Price
$107.900
Owned Owned
Unknown

HOLD

It has been technically been showing some interesting patterns.  It broke out into a new high in the last few days.  You would prefer to buy it back in the trading range.  It is good between September and December of each year, but we are not into the period of seasonal strength.  Stick with it if you own it.

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It has been technically been showing some interesting patterns.  It broke out into a new high in the last few days.  You would prefer to buy it back in the trading range.  It is good between September and December of each year, but we are not into the period of seasonal strength.  Stick with it if you own it.

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Don Vialoux

Research A, TimingTheMarket.CA &...

Price Price
$107.900
Owned Owned
Unknown

COMMENT

Higher interest rates should be positive for Canadian banks. This ranks 78 out of 720 in his rankings. All the banks are basically clustered in the top 15% of his database. This may end up being the unloved child amongst the big 5, but generally speaking, a package of Canadian banks over the next few years should do fairly well. Thinks you will be happy with this over the next couple of years.

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Higher interest rates should be positive for Canadian banks. This ranks 78 out of 720 in his rankings. All the banks are basically clustered in the top 15% of his database. This may end up being the unloved child amongst the big 5, but generally speaking, a package of Canadian banks over the next few years should do fairly well. Thinks you will be happy with this over the next couple of years.

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Robert McWhirte

President, Selective Asset Mana...

Price Price
$108.160
Owned Owned
No

COMMENT

She likes the Canadian banks, which have pulled back from their highs earlier this year. She anticipates they will increase dividends at the same rate as their earnings growth, in the 7%-8% range. This one is primarily a domestic bank. There is not a lot of growth left in Canada, and this has not had a great track record. When they do expand, they tend to pull back. They paid a very full price for the US acquisition they are making. This wouldn’t be one of her top picks.

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She likes the Canadian banks, which have pulled back from their highs earlier this year. She anticipates they will increase dividends at the same rate as their earnings growth, in the 7%-8% range. This one is primarily a domestic bank. There is not a lot of growth left in Canada, and this has not had a great track record. When they do expand, they tend to pull back. They paid a very full price for the US acquisition they are making. This wouldn’t be one of her top picks.

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Christine Poole

CEO & Mana, GlobeInvest Capital ...

Price Price
$107.410
Owned Owned
No

COMMENT

When talking about any Canadian banks, you have to look at them in conjunction to your overall portfolio have. Also, what percentage of your overall portfolio is it. This is trading at a discount at 10X PE. They have a US acquisition that is still in very early stages, and you have to figure out what that is going to look like down the road. Over the long-term, you should do very well on this. (See Top Picks.)

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When talking about any Canadian banks, you have to look at them in conjunction to your overall portfolio have. Also, what percentage of your overall portfolio is it. This is trading at a discount at 10X PE. They have a US acquisition that is still in very early stages, and you have to figure out what that is going to look like down the road. Over the long-term, you should do very well on this. (See Top Picks.)

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Kash Pashootan

CEO & Chie, First Avenue Investm...

Price Price
$106.150
Owned Owned
Yes

COMMENT

A $105 January Call with a strike price of $110. Collecting the dividend and the premium for the call. Good strategy? When you are using a covered call strategy like this, you are writing them a little bit out of the money. There is nothing wrong with this. You won’t get as much premium as if you had sold a smaller gap.

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A $105 January Call with a strike price of $110. Collecting the dividend and the premium for the call. Good strategy? When you are using a covered call strategy like this, you are writing them a little bit out of the money. There is nothing wrong with this. You won’t get as much premium as if you had sold a smaller gap.

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John Hood

President , J. C Hood Investment...

Price Price
$105.390
Owned Owned
Unknown

BUY

This has not done well now that the new acquisition of Private Bank Corp has gone through. To him this is the most interesting bank, simply because it is down the most in context to where it was relative to their $120 high. What we are seeing right now is the backflow of US holders of Private Bank Corp questioning what is this “CIBC” thing, with a natural inclination to Sell. That is actually a very good time to look at a stock. He would put new money into this today.

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This has not done well now that the new acquisition of Private Bank Corp has gone through. To him this is the most interesting bank, simply because it is down the most in context to where it was relative to their $120 high. What we are seeing right now is the backflow of US holders of Private Bank Corp questioning what is this “CIBC” thing, with a natural inclination to Sell. That is actually a very good time to look at a stock. He would put new money into this today.

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Lyle Stein

Sr. Portfo, Vestcap Investment M...

Price Price
$104.980
Owned Owned
Unknown

BUY

Trading at 9.7X while its peers trade at 11.2X, because it has a little lower growth rate, and is very tied to Canada. Just bought Private Bank Corp in the US, and there is some uncertainty as to how that does. Because they are overexposed to Canadian housing, they are trading at a discount. Dividend yield of 4.77%.

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Trading at 9.7X while its peers trade at 11.2X, because it has a little lower growth rate, and is very tied to Canada. Just bought Private Bank Corp in the US, and there is some uncertainty as to how that does. Because they are overexposed to Canadian housing, they are trading at a discount. Dividend yield of 4.77%.

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Greg Newman

Director &, Scotia Wealth Manage...

Price Price
$106.530
Owned Owned
Unknown

WATCH

CIBC is not one of the three she owns broadly.  They have been primarily domestic.  It was hard to see above trend growth. They recently acquired a US bank and so we will have to see how they do.  They got out of the US previously.  As a group she like them as they have pulled back recently.  The improving Canadian economy will be positive for Canadian banks.

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CIBC is not one of the three she owns broadly.  They have been primarily domestic.  It was hard to see above trend growth. They recently acquired a US bank and so we will have to see how they do.  They got out of the US previously.  As a group she like them as they have pulled back recently.  The improving Canadian economy will be positive for Canadian banks.

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Christine Poole

CEO & Mana, GlobeInvest Capital ...

Price Price
$106.000
Owned Owned
No

BUY

In all the banks, this has participated the least over the last year or so. In valuation, it is one of the cheaper banks. You’re getting a little more of a dividend and a cheaper valuation. The big question is their US acquisition, and how that is going to play out. For a longer-term hold, this is a great buying opportunity. Yield of about 4.8%.

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In all the banks, this has participated the least over the last year or so. In valuation, it is one of the cheaper banks. You’re getting a little more of a dividend and a cheaper valuation. The big question is their US acquisition, and how that is going to play out. For a longer-term hold, this is a great buying opportunity. Yield of about 4.8%.

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Kash Pashootan

CEO & Chie, First Avenue Investm...

Price Price
$104.870
Owned Owned
Yes

PAST TOP PICK

(A Top Pick July 15/16. Up 10%.) This has always managed to maintain a relative high capital base relative to the other banks, and has always had one of the better dividend yields. With the recent pullback, it is still a Buy.

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(A Top Pick July 15/16. Up 10%.) This has always managed to maintain a relative high capital base relative to the other banks, and has always had one of the better dividend yields. With the recent pullback, it is still a Buy.

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Michael Sprung

President, Sprung Investment Ma...

Price Price
$104.870
Owned Owned
Yes

BUY

He likes this name. In general, Canadian financials have sold off a little, so this is a pretty good time. Thinks that the time of stepping on the sharp end of the rake is over. They’ve done a really good job of becoming a retail bank.

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He likes this name. In general, Canadian financials have sold off a little, so this is a pretty good time. Thinks that the time of stepping on the sharp end of the rake is over. They’ve done a really good job of becoming a retail bank.

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John Stephenson

President , Stephenson & Company...

Price Price
$105.090
Owned Owned
Unknown

BUY on WEAKNESS

Recently made an acquisition of a US private bank. They had to raise the price, but it was important for them to have a banking foothold in the US. Some analysts are concerned they have too much exposure to the Canadian consumer and have been growing their Canadian mortgage business a bit too fast. A well-run bank.

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Recently made an acquisition of a US private bank. They had to raise the price, but it was important for them to have a banking foothold in the US. Some analysts are concerned they have too much exposure to the Canadian consumer and have been growing their Canadian mortgage business a bit too fast. A well-run bank.

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Michael Simpson

Senior Vic, Sentry Investments...

Price Price
$105.620
Owned Owned
Unknown

COMMENT

CIBC (CM-T) or Royal Bank (RY-T)? This is the perennial laggard of the big banks, because historically it has been so accident prone. Also, they don’t have the International areas like the other banks. This is very domestic, so you’re getting domestic exposure. Royal always has a higher premium. You have to ask if you want more domestic exposure or something with a little more US flavour.

banks
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CIBC (CM-T) or Royal Bank (RY-T)? This is the perennial laggard of the big banks, because historically it has been so accident prone. Also, they don’t have the International areas like the other banks. This is very domestic, so you’re getting domestic exposure. Royal always has a higher premium. You have to ask if you want more domestic exposure or something with a little more US flavour.

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Fabrice Taylor

Publisher, The President's Club...

Price Price
$105.280
Owned Owned
No

DON'T BUY

He would recommend something else. There are better banks out there. He wouldn’t own this one. It has the most in residential mortgages. Prefers something like Toronto Dominion (TD-T) or Bank of Montréal (BMO-T) which have avenues into the US. There is also Royal Bank (RY-T) or Bank of Nova Scotia (BNS-T).

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He would recommend something else. There are better banks out there. He wouldn’t own this one. It has the most in residential mortgages. Prefers something like Toronto Dominion (TD-T) or Bank of Montréal (BMO-T) which have avenues into the US. There is also Royal Bank (RY-T) or Bank of Nova Scotia (BNS-T).

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Zachary Curry

Chief Oper, Davis-Rea Ltd....

Price Price
$106.300
Owned Owned
No

WATCH

Right now, this is under some pressure. As far as the banks are concerned, he would just sit and watch a little. The charts all look indifferent. If the US Shorts continue, there could be a further decline in the bank stocks.

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Right now, this is under some pressure. As far as the banks are concerned, he would just sit and watch a little. The charts all look indifferent. If the US Shorts continue, there could be a further decline in the bank stocks.

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David Cockfield

Managing D, Northland Wealth Man...

Price Price
$106.000
Owned Owned
Unknown

COMMENT

This is down more than the other banks because (1) they are issuing stock in the People’s Bank acquisition and (2) they have twice the exposure of any other Canadian bank to Canadian mortgages. He doesn’t own it because of their mortgages, which would make them the most exposed if there were any problems. (See Top Picks.)

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This is down more than the other banks because (1) they are issuing stock in the People’s Bank acquisition and (2) they have twice the exposure of any other Canadian bank to Canadian mortgages. He doesn’t own it because of their mortgages, which would make them the most exposed if there were any problems. (See Top Picks.)

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Bruce Campbell

President, Campbell and Lee Inv...

Price Price
$107.850
Owned Owned
No

COMMENT

Regarding their US acquisition, they’ve gone at it 3 times saying this is the last offer. The US banks rallied, and the Canadian banks did not. He hopes they don’t jump their offer once again.

banks
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Regarding their US acquisition, they’ve gone at it 3 times saying this is the last offer. The US banks rallied, and the Canadian banks did not. He hopes they don’t jump their offer once again.

banks
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Lyle Stein

Sr. Portfo, Vestcap Investment M...

Price Price
$108.360
Owned Owned
Yes

COMMENT

Stock split? The reality is that a stock split is going to have very little impact to your long-term success in owning the shares. Also, it will make no difference to your performance. This and the National Bank (NA-T) are the cheapest on a valuation basis, and as a result they also pay the best dividends.

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Stock split? The reality is that a stock split is going to have very little impact to your long-term success in owning the shares. Also, it will make no difference to your performance. This and the National Bank (NA-T) are the cheapest on a valuation basis, and as a result they also pay the best dividends.

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Kash Pashootan

CEO & Chie, First Avenue Investm...

Price Price
$109.140
Owned Owned
Unknown

TOP PICK

Relatively exposed to home loans in Canada, which is why he picked it. Americans don’t actually understand Canada’s mortgage market. Because of this, a lot of US Shorts are going after not only the alternate mortgage lenders, but primary banks and other lenders. This is also probably one of the most profitable banks in Canada. Dividend yield of 4.6%. (Analysts’ price target is $124.)

banks
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Relatively exposed to home loans in Canada, which is why he picked it. Americans don’t actually understand Canada’s mortgage market. Because of this, a lot of US Shorts are going after not only the alternate mortgage lenders, but primary banks and other lenders. This is also probably one of the most profitable banks in Canada. Dividend yield of 4.6%. (Analysts’ price target is $124.)

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Michael Sprung

President, Sprung Investment Ma...

Price Price
$110.580
Owned Owned
Yes

TOP PICK

They have a higher amount of residential exposure than peers.  Famous last words.  One should recognize their ability to play catch up to peers and not being recognized in terms of valuation.  They had 8 consecutive dividend increases since 2008.  There is plenty of room for them to move forward.  They have a great opportunity in terms of cost cutting.  They have great inroads to providing financial services to newcomers to Canada.  (Analysts' target: $124.00).

banks
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They have a higher amount of residential exposure than peers.  Famous last words.  One should recognize their ability to play catch up to peers and not being recognized in terms of valuation.  They had 8 consecutive dividend increases since 2008.  There is plenty of room for them to move forward.  They have a great opportunity in terms of cost cutting.  They have great inroads to providing financial services to newcomers to Canada.  (Analysts' target: $124.00).

banks
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Mohsin Bashir

VP Investm, Stone Asset Manageme...

Price Price
$109.710
Owned Owned
Yes

BUY