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
PROCTER & GAMBLE CO., $78.37, New York symbol PG, is one of the world’s largest makers of household and personal-care goods. Major brands include Tide (laundry detergent), Pampers (diapers), Gillette (razors) and Crest (toothpaste).
Starting with the May 2018 payment, the company will raise its quarterly… Read More
We continue to recommend that all investors own two to three of Canada’s big five banks, including Bank of Montreal (see page 41). Despite the recent market swings, they should continue to profit from their recent acquisitions and their shift to low-cost online transactions.
ROYAL BANK… Read More
TRANSCONTINENTAL INC., $26.63, Toronto symbol TCL.A, is Canada’s leading printer of advertising flyers, magazines, books and newspapers. That includes weekly newspapers in Quebec and Atlantic Canada.
In the past few years, the company has cut its exposure to cyclical advertising with the acquisition of companies that… Read More
ROYAL BANK OF CANADA, $99.91, Toronto symbol RY, is Canada’s largest bank, with assets of $1.28 trillion.
With the May 2018 payment, Royal will raise its quarterly dividend by 3.3%, to $0.94 a share from $0.91. The new annual rate of $3.76 yields 3.8%.
The bank also… Read More
The six ETFs we update below mainly hold high-quality stocks that are widely traded on Canadian and U.S. ex- changes. Each fund tracks the performance of a major stock market index. That’s different from ETFs focused on narrower indexes or themes such as solar power… Read More
CANADIAN IMPERIAL BANK OF COMMERCE, $119.00, Toronto symbol CM, completed its acquisition of Chicago-based PrivateBancorp Inc. in June 2017. That firm mainly lends to small and mid-sized businesses. It also provides wealth management services. CIBC paid $6.6 billion in cash and stock.
If you exclude costs… Read More
CANADIAN IMPERIAL BANK OF COMMERCE $116 (Toronto symbol CM; Income-Growth Portfolio, Finance sector; Shares outstanding: 443.8 million; Market cap: $51.4 billion; Dividend yield: 4.6%; Dividend Sustainability Rating: Highest; www.cibc.com) is Canada’s fifthlargest bank with assets of $586.9 billion.
Starting with the April 2018 payment, CIBC will… Read More
BCE INC. $57 (www.bce.ca) recently acquired AlarmForce Industries for $182 million. BCE will now sell AlarmForce’s Western Canadian operations (B.C., Alberta and Saskatchewan) to TELUS CORP. $45 (www. telus.com) for $66.5 million. The deal makes sense for both companies. Most of BCE’s landline residential customers… Read More
Last week’s rise in interest rates could lower demand for mortgages and loans at the big banks, but is unlikely to slow their growth.
The smallest of the big five banks has grown significantly in the past year with two acquisitions in Chicago. As a.. Read More
While TD (see page 1) is our favourite for new buying, we also like the outlook for Canada’s other big banks. We advise all Canadian investors to hold at least three of them.
Like TD, the remaining four banks trade at attractive multiples to their… 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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Changes to this Policy
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