Canadian Imperial Bank of Commerce (USA) (CM)
A diversified financial institution, offering a range of financial products and services to clients in Canada. It has two strategic business lines: CIBC Retail Markets and CIBC World Markets.
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canadian bank, price target above $70 sounds like a deal to me
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PEGDY screen 9_18_2009
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This stock is trading below book value and also is trading at a very low price to operating cash flow ration..It also has a very generous 5% yield.
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In the short-term, fair pricing still requires a 20% stock price increase. Within 3-5 years, we'll be back nearing $100/stock though.
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The Canadian Federal Government introduced TFSA(Tax-Free Savings Account) in the 2008 budget. As soon as the majority of the citizens fully understands the benefits of TFSA, Canadian Imperial Bank of Coomerce will accommodate their needs.
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Bank seems to be running well and since it is Canadian, the US is unlikely to ruin it with Nationalization.
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President Bush signs historic financial rescue plan into law - October 3/2008
money.cnn.com/2008/10/03/news/economy/house_friday_bailout/index.htm?postversion=2008100309
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good canadian bank
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Great canadian bank, just bad times, so it will turn around eventually, as i believe it can weather the storm
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Canadian Imperial Bank of Commerce (NYSE:CM)
I'm sold from previous pitches, I like CIBC because it operates in two segments, Retail Markets and World Markets..
I also like that they provide various financial products and services to corporate, government, and institutional clients in North America..
For more information visit: www.cibc.com
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They would have the oppurtunity to move in where Bear Stearns played, or to have a portion of such market (assuming they moved while CA dollar still strong).
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CM CANADIAN IMPERIAL BANK OF COMMERCE
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it is still a great bank, dispite the housing crisis
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The bank has limited subprime write-downs. Solidly positioned and depending on changes to Canadian Law, could take off through acquisitions or by being acquired.
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this stock has taken it's beating with subprime mortgages, did it's write downs - now is time to buy, it is on it's way back up
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Low present price,
Past performance of risk taking/winning
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Market Capitalization: $25,396,968,000 $66.72
Book Value: $110,506,000,000 $285.08
Current-Asset Value: $99,326,000,000 $256.24
Cash-Asset Value: $1,457,000,000 $3.76
Liquidating Value: $10,532,956,400 $27.17
Its Intrinsic Value is $114.83, this stock is undervalued, its assets show that its worth more than what the market has priced it at. Sooner or later this stock will flurish and hit over its 100 High in january.
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CIBC has by far the worst exposure of the Canadian banks in the subprime mess due to generally bad management, especially compared with the other Canadian banks.
However, the current price is crazy market driven jitters, compared with their financials and status. There is no doubt this bank will recover its price, maybe not to the $>100 highs in the next year, but maybe in the next 2-5 years.
ALSO: Look out for Bank of Montreal (BMO) ... they've recently revealed their 'real' exposure and are dipping ... similar story.
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I feel the banks are turning up soon. Don't want to try to time it. There's been good support strength at 65, so I don't see much downside at this point. Well, let's say I see more upside in the years ahead then I do in the two months ahead, so we'll take the long term view and not miss the bounce to come trying to save a couple of bucks.
As far as CIBC being the worst of the Canadian banks in the subprime mess..... yes, it is true. However, watch the market trend on the positive days when banks do well in Canada, it's actually CIBC that moves the fastest higher. All will be forgiven when the market turns. Just like it was all forgiven for CIBC when they messed up on the Enron story.

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