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
ROYAL BANK OF CANADA, $103.64, Toronto symbol RY, reported better-than-expected earnings this week, due to strong results from its retail banking and wealth management businesses. The bank also raised its dividend.
In its fiscal 2018 third quarter, ended July 31, 2018, Royal’s overall earnings rose 11.2%,… Read More
BLACKBERRY LTD. $13 (Toronto symbol BB; Aggressive Growth Portfolio, Manufacturing & Industry sector; Shares outstanding: 537.1 million; Market cap: $7.0 billion; Price-to-sales ratio: 7.7; No dividends paid; TSINetwork Rating: Speculative; www.blackberry.com) is in a strong position to profit as more businesses increase their spending on cybersecurity.
For example,… Read More
Here are three ETFs that mostly hold high-quality stocks widely traded on Canadian exchanges. Each fund mirrors the performance of a major stock index or sub-index. That’s different from ETFs focused on narrower indexes or themes such as biotechnology or solar power.
While you do pay… Read More
CANADIAN NATIONAL RAILWAY CO., $117.78, Toronto symbol CNR, operates Canada’s largest railway. Its 32,200-kilometre network stretches across the country. It also travels down through the U.S. Midwest, connecting Canada to the Gulf of Mexico.
In response to severe winter weather that disrupted CN’s operations in the… Read More
In the most recent quarter, this Canadian bank’s U.S. earnings soared by 425%.
The acquisition of a Chicago-based bank a year ago has steadily boosted profits and helped offset slowing demand for mortgages in Canada. The bank recently raised its dividend, which yields a high 4.6%…. Read More
The six ETFs we update below mainly hold high-quality stocks that are widely traded on Canadian and U.S. exchanges. Each fund tracks the performance of a major stock market index. That’s different from ETFs focused on narrower indexes or themes such as cryptocurrencies or biotechnology.
Of… Read More
CANADIAN PACIFIC RAILWAY LTD., $256.00, Toronto symbol CP, has ordered 1,000 new railcars for shipping grain (called “hoppers”). It expects to receive 500 of those cars by the end of 2018.
This initial order is part of CP’s larger plan to purchase 5,900 hopper cars over… Read More
CANADIAN IMPERIAL BANK OF COMMERCE, $114.87, Toronto symbol CM, paid $6.6 billion in cash and stock to acquire Chicago-based PrivateBancorp Inc. in June 2017. That firm mainly lends to small and mid-sized businesses. It also provides wealth management services.
The additional revenue from PrivateBancorp has helped… Read More
GREAT-WEST LIFECO INC. $34 (Toronto symbol GWO; Conservative Growth and Income Portfolios, Finance sector; shares outstanding: 988.6 million; Market cap: $33.6 billion; Price-to-sales ratio: 0.7; Dividend yield: 4.6%; TSINetwork Rating: Above Average; www.greatwestlifeco.com) is Canada’s second-largest insurance company, after Manulife Financial. It also offers mutual funds and… Read More
LAMB WESTON HOLDINGS INC. $66 (New York symbol LW; Consumer sector; Shares outstanding: 146.2 million; Market cap: $9.6 billion; Dividend yield: 1.2%; Takeover Target Rating: Medium; www.lambweston.com) sells frozen potatoes and other vegetable products to restaurants and prepared-food makers.
Until November 9, 2016, the company was a wholly… Read More
Learn everything you need to know in 'The Canadian Guide on How to Invest in Stocks Successfully' FREE Special Report from The Successful Investor.
How to Invest In Stocks Guide: Find 10 factors that make your investments safer and stronger.
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