Canadian Imperial Bank of Commerce: Shares Look Pricey On Strong Results
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Mark Dockray2.09K FollowersFollow5ShareSavePlay(8min)CommentsSummaryCanadian Imperial Bank of Commerce has been a strong performer in recent months, returning over 40% since my last update in the summer.CM's Canadian retail and commercial banking operations continue to deliver solid earnings growth, with wider interest margins more than offsetting higher credit charges.Income in CM's Capital Markets segment has soared recently, with trading revenue benefiting from elevated volatility. Normalization could be a headwind to watch out for.CM trades for over 2 times book value and yields 3.4%. Both metrics look rich versus historical norms. Erman Gunes/iStock Editorial via Getty Images Like other members of the Big Five Canadian banks, Canadian Imperial Bank of Commerce (CM) (CM:CA) ("CIBC") has been a strong performer of late. Shares of the Bay Street giant have returnedThis article was written byMark Dockray2.09K FollowersFollowI like to take a long term, buy-and-hold approach to investing, with a bias toward stocks that can sustainably post high quality earnings. Mostly found in the dividend and income section. Blog about various US/Canadian stocks at 'The Compound Investor', and predominantly UK names on 'The UK Income Investor'.Analyst’s Disclosure:I/we have no stock, option or similar derivative position in any of the companies mentioned, and no plans to initiate any such positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article. Seeking Alpha's Disclosure: Past performance is no guarantee of future results. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. Any views or opinions expressed above may not reflect those of Seeking Alpha as a whole. Seeking Alpha is not a licensed securities dealer, broker or US investment adviser or investment bank. Our analysts are third party authors that include both professional investors and individual investors who may not be licensed or certified by any institute or regulatory body.