Bullboard - Stock Discussion Forum Canadian Imperial Bank of Commerce T.CM.PR.Q

Primary Symbol: T.CM Alternate Symbol(s): CM | T.CM.PR.P | T.CM.PR.S

Canadian Imperial Bank of Commerce is a Canada-based financial institution. The Company has over 14 million personal banking, business, public sector and institutional clients in Canada, the United States and around the world. The Company has four strategic business units (SBUs): Canadian Personal and Business Banking, Canadian Commercial Banking and Wealth Management, U.S. Commercial Banking... see more

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Canadian Imperial Bank of Commerce > Canadian Banks are a Bargain

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Post by newcoin on Sep 26, 2023 2:35am

Canadian Banks are a Bargain

Trading at ~9.2x f2024 estimates (8.9x f2025 earnings) on average, Canadian bank stocks are very inexpensive and clearly pricing in significant challenges ahead including another huge increase in forecast loan losses from a possible recession. In a more normal environment – characterized by reasonable GDP growth and a stable macro environment – the banks would likely trade around 10.5x earnings, or roughly ~15% higher than today’s levels.

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Comment by joebravo on Sep 26, 2023 7:16am

I'm taking figures from Yahoo site so I'm not sure how accurate they are, but it seems that estimates for 4Q 2023 being $1.60 would equate to Fully Year 2023 Earnings of $6.76. If these are in line with actual earnings in 4Q, then CIBC would have a P/E ratio of 8 for 2023. Long term, all Canadian Banks will do well, but there will be volatility for some time until BofC and US Central ...more

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Canadian Imperial Bank of Commerce