Canadian Imperial Bank of Commerce, or as it is commonly known, CIBC (CM) is one of the Big Five Canadian banks. CIBC is the smallest of the five and has most of its operations in Canada, with a small exposure to the US market. The Canadian banks are regarded as some of the safest financial institutions in the world. The companies have a long track record of being conservative and focused on long-term stability and prosperity.
CIBC has existed as an institution since 1867 and paid dividends since 1868, and makes for a great core position in any investor’s portfolio. There are plenty of headwinds facing the Canadian economy and the banks — including a recession, weak Canadian dollar, possibility of a housing bubble and potential crash, which has lead to very attractive valuation levels for investors looking to initiate or add to their positions. This article takes a closer look at the stock and provides a full dividend stock analysis.