Canadian Imperial Bank of Commerce (Toronto symbol CM) is one of Canada's largest banks to invest in, offering a high-dividend yield of 4.8%. Canadian Imperial Bank of Commerce recently agreed to sell its 41% stake in U.S.-based wealth management firm American Century Investments (ACI) for $1 billion U.S. CIBC was unable to gain full control over ACI, which is why it decided to sell this investment. CIBC expects to realize a gain of $170 million U.S. when it completes the sale in mid-2016. The deal also frees up cash the bank can use to pursue other acquisitions. Meanwhile, Canadian Imperial Bank of Commerce has announced several plans to spur its growth, including spending less on branches and expanding its online and mobile-banking systems. It will also consolidate 120 data centres into a single facility. In all, the bank expects to spend $400 million on these moves over the next three years. But they will cut $600 million from its annual costs by 2019. These savings will also offset any potential losses on loans to oil and gas producers. At last report, these loans totalled $17.3 billion, which is a moderate 6% of CIBC's outstanding loans and credit commitments. Canadian Imperial Bank of Commerce is also seeing lower losses from credit cards, mainly because it sold half of its Aeroplan accounts to TD Bank when TD took over the plan in 2014. As a result, it set aside $771 million for potential bad loans in 2015, down 17.7% from $937 million in 2014. We consider CIBC a buy, and feel that most Canadian investor should own at least two of Canada's big-five banks To determine which stocks are best to invest in, use our three-part Successful Investor philosophy:
Discover how to build a winning stock market portfolio in this free special report, Canadian Stock Market Basics: How to Trade Stocks and Make Good Investments in Canada, from TSI Network
Blue chip companies worthy of investment are presented here in our blue chip stock list
The best blue chips offer both capital gains growth potential and regular dividend income. The dividend yield is certainly one of the most concrete indicators of a sound investment. It is… Read More
The bank is once again expanding in the U.S. with its acquisition of PrivateBancorp. The move should see U.S. operations contribute 10% to overall earnings and help lift the dividend yield.
In the late 1990s and early 2000s, CIBC rapidly expanded its corporate banking operations in… Read More
In the late 1990s and early 2000s, CIBC rapidly expanded its corporate banking operations in the U.S. However, this business suffered big losses, mainly due to its involvement with bankrupt energy company Enron.
In 2005, the bank decided to exit the U.S. and instead focus… Read More
We still think investors will profit most—and with the least risk—by buying shares of well-established, dividend-paying stocks with strong business prospects.
These are companies that have leading positions in healthy industries. They also have strong management that will make the right moves… Read More
PLEASE NOTE: Our next Hotline will go out on Friday, July 8, 2016.
CANADIAN IMPERIAL BANK OF COMMERCE, $97.04, Toronto symbol CM, has agreed to buy Chicago-based PrivateBancorp Inc. (Nasdaq symbol PVTB).
PrivateBancorp mainly lends to small and mid-sized businesses. It also provides wealth management services. In… Read More
As an Inner Circle member, you’re no doubt familiar with our three-part investment advice. One of those key points is to invest mainly in well-established dividend-paying stocks. (The other two parts are to downplay stocks in the broker/media limelight and spread your money across most… Read More
BANK OF MONTREAL, $83.44, Toronto symbol BMO, gained 1% this week after announcing it will raise its dividend. The bank also said it’s setting aside more funds to cover potential bad loans to Canadian oil and gas firms; and with more of its customers banking… Read More
CAE INC., $16.00, Toronto symbol CAE, is a leading maker of flight simulators and operates pilot-training schools in over 30 countries. It also produces simulators for military aircraft as well as mannequins and other medical-simulators for training health professionals.
The company earned $239.3 million in the… Read More
CANADIAN IMPERIAL BANK OF COMMERCE $96 (www.cibc.com) earned $2.55 a share in the quarter ended January 31, 2016. That’s up 8.1% from $2.36 a year earlier. Strong gains at the bank’s main personal and business banking operations offset weaker earnings from wealth management and securities… Read More
CANADIAN IMPERIAL BANK OF COMMERCE $96 (www.cibc.com) earned $2.55 a share in the quarter ended January 31, 2016. That’s up 8.1% from $2.36 a year earlier. Strong gains at the bank’s main personal and business banking operations offset weaker earnings from wealth management and securities… Read More
Learn everything you need to know in 'The Best Blue Chips for Canadian Investors' FREE Special Report from The Successful Investor.
Canadian Blue Chip Stocks:
Bank of Nova Scotia, CP Rail, CAE Inc. and more.
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