Canadian Imperial Bank of Commerce (CM-T) — Stockchase (2024)

Mar 8, 2024, 9:00 pm

Consensus

Mixed

Valuation

Fair Value

Similar

Bank of Montreal, BMO-T

Broke trendline. At resistance. If breaks $64-65, it'll head to the next resistance level around $79. Could see trouble in short term, but downtrend in general has been broken. Not a bad-looking chart, unlike the one for BNS.

banks

Long-term, great. Beautiful dividend. Trades cheaper than peers at 8.3x 2024. Beat on balance sheet. Operating leverage was 6.1, top of peers. Just doesn't see growth for next couple of years. But not much downside, get paid to wait. Will eventually turn around. No problems owning here.

banks

banks

CIBC was under the most pressure during the interest rate hikes, but now it's rebounded 26% off the bottom, the strongest bank performer. It will continue to rise. Peers like TD and RY have a big US presence, so if you want that CIBC doesn't offer it. Owns CIBC as a valuation trade. The dividend is safe. Lower rates will certainly help CIBC.

banks

Expecting a decent year from company. Canadian banks difficult to predict, but overall a strong sector. Safe regulations and industry standards. Lower interest rates will be good for business. New management strong and would recommend buying.

banks

Expecting growth in sector in 2024, however business has headwinds facing it. Not great metrics and costs have been high. Better options for investors in sector and elsewhere in markets.

banks

Believes Canadian financials will catch up in 2024. Would be a good time to buy small position. Won't be a major capital gain, but is not pessimistic about sector anymore.

banks

Not overly impressed with the chart. Has other bank names. Does not like Canadian banking sector overall. Believes troubled times ahead for Canadian banking with mortgage renewals, and higher interest rates.

banks

All banks are down 25-30%. CIBC is most exposed to housing mortgages. Banks pay a high yield, 7.1% by CIBC, which is huge for banks. Worries are a recession or housing weakness. But the Canadian banks enjoy an oligopoly. Canadian banks are okay short-term as they enter seasonality now.

banks

banks

Canadian banks very attractive. Currently trading at ~9x earnings. ~7% dividend yield is exceptional. Very strong wealth management business. Good for long term investors. Expecting double digit return going forward.

banks

Does have global operations, but more domestically inclined. Gained a lot of market share in the mortgage market, and that's where we might see an uptick in provisions at these rates. Yield is 6.8%.

banks

banks

Likes preferred option with 8-9% yield. Owns shares in company - expecting recovery in next 5 years. ~7% yield is excellent yield. Owns shares and has been buying.

banks

banks