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

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.

HOLD

Everything looks okay, but it looks kind of mushy. All banks look like this, except National Bank which is Quebec based. The banks are cheap, but they look like they want to ooze lower before there is any rebound. He would hold it if you own it, but he doesn't expect good performance in the next couple months.

BUY

He switched from BMO-T to CM-T last year. It is still not his largest banking holding. It is a bit of a catch-up trade.

DON'T BUY

They stubbed their toe on Q4 earnings and arrived late to buying assets in the US. In Canada, they have been very aggressive on mortgage lending. He does not own it presently. He is not a fan of the overall leverage to the Canadian economy.

DON'T BUY

CM vs. MFC They were late to get US exposure, which hurt them. Also, there's negativity towards CM's mortgage book. TD and RY remain the top Canadian banks, not CM. TD & RY are investing in tech, the future, which is smart. MFC: The lifecos have done well diversifying into asset management and into Asia. But with low interest rates, pricing insurance gets tougher and limits growth. You own lifecos for Asia and wealth management. Not CM, but buy TD and Royal.

DON'T BUY

They stood out from their peers as the one to increase their expenses. This is difficult because of the headwinds in the sector. It has the weakest earnings profile going forward. He would prefer another bank. See his Top Picks for today.

HOLD

If the market is going into an inflationary period, this dividend and 8.9 times earnings, you could but it here. Their underlying credit quality remains stable. The resumption of Canadian real estate looks good. Earnings are not growing as fast as other Canadian banks. Yield 5.5% (Analysts’ price target is $113.00)

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Canadian Imperial Bank of Commerce (CM.TO)