Canadian Imperial Bank of Commerce (CM.TO)…

Canadian Imperial Bank of Commerce (CM.TO)

160.31

+2.34 (1.48%)

as of Jun 19, 2026, 8:00:01 pm Market Open.

660 watching

BUY

Are bank stocks safe again? Canadian banks have outperformed the TSX throughout his entire career. There's fear that rising rates will make mortgages uncertain. But given this correction, you can nibble at the Canadian banks now, one of the safest assets in Canada, since they are protected by law. His favourite bank here is BNS given their exposure in South America, which were badly hit by Covid and they have wide mining exposure. The safer bet is CIBC, because it's well-managed, is more exposed to the Canadian economy which is thriving because of demand for natural resources, and it pays a good dividend.

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BUY

With the pullback, one of his favourites to buy. Chance to accumulate. Well capitalized. Price to book is at a slight discount to the group. Net interest margins should grow with higher rates. Worry is economic slowdown. Probability of recession is higher than 6 weeks ago. Yield is now at a premium, around 4.5%.

HOLD

Markets have been volatile. Stick with it. Bank valuations across NA are around 11x earnings, pretty reasonable. All banks have plans for excess cash they've built up. CM growth profile is not as strong as its peers, so it always trades at a lower multiple. He prefers BNS and TD.

TRADE

It has a 4.4% yield and trades at 10 or11 X earnings. It will do a 2 for 1 split but it doesn't matter whether you buy before or after the split since the yield and earnings stay the same. It is as good as any other Canadian bank. He prefers the U.S. banks since the American consumer is in much better shape financially.

BUY

Believes negative pressure on bank stocks due to bank tax from Canadian government. Since Canadian bank tax not as high as expected, stock will preform better. Good time to buy stock as price is presenting good buying opportunity.

HOLD

Banks are struggling with a flattening yield curve, but this can always correct itself. Canadian banks have more resource exposure, so they're doing better than other countries. If you have the timeline, hang on. You can always hang onto the Canadian banks over the long run.

BUY

Looking better than most of the rest. Coming off a bounce. Banking sector should, after a blip, benefit from rising rates. Investor were worried about banks' exposure to energy, but now with higher prices, of course, they're fine with it.

DON'T BUY

Buy a stock before or after a stock split? It has a lot to do with psychology, because a split creates no economic value, but stocks tend to rise after a split is announced. The strategy is to sell right after the split announcement, then buy it back later. CM stock is ahead of itself. Its PE is higher than its peers while its dividend has declined.

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BUY

Long-term, the Canadian banks will return 12-15% annually. They trade as a group with minor variances among the banks. RY is his favourite given their best-in-class franchises and as the largest bank. Any Canadian bank is fine to own. You can't go wrong. Some want a bank with a higher dividend, others with more operations in the U.S. It's up to the investor.

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.

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.

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Canadian Imperial Bank of Commerce (CM.TO)