Canadian Imperial Bank of Commerce News and Headlines -
Dividend growth investors always look forward to the announcement of a dividend increase. These investors like being paid to hold shares of companies. We will discuss three companies that recently raised dividends and whether or not they are offering good value at the moment.
Canadian Imperial Bank of Commerce
Canadian Imperial Bank of Commerce (CM) can trace its roots all the way back to 1867. The bank is one of the largest financial institutions in Canada today. Canadian Imperial was formed in 1961 through a merger of Canadian Bank of Commerce and the Imperial Bank of Canada. The bank has
Sarah Ketterer (Trades, Portfolio)'s Causeway Capital Management LLC manages a $5.55 billion equity portfolio composed of 79 stocks as of the quarter's end. The firm sold shares of the following stocks during the second quarter.
The fund reduced its position in Linde PLC (LIN) by 37.95%. The trade had an impact of -4.21% on the portfolio.
The company has a market cap of $130.77 billion and an enterprise value of $145.69 billion.
GuruFocus gives the company a profitability and growth rating of 8 out of 10. The return on
According to the GuruFocus All-in-One Screener as of June 10, the following guru-held companies have high dividend yields and are trading with low price-earnings ratios.
Verizon Communications Inc.'s (VZ) dividend yield is 4.23% and the payout ratio is 0.55. Over the past 52 weeks, the stock price has increased 5.36%. Shares are trading with a price-book ratio of 3.98 and a price-earnings ratio of 13.06. The company’s average yield was 4.57% over the past 10 years.
The provider of wireless telecommunication services has a market cap of $239 billion. The return
Unlike its U.S. counterparts, the major Canadian banks did not slash dividends during the 2008 financial crisis. These companies did pause dividend growth in many cases, but they returned to growth rather quickly.
In addition, these companies have performed well over recent quarters, and each of the top players offers a dividend of at least 5% today. For these reasons, I have turned my eyes north for possible banking investment opportunities.
Unlike its U.S.-based counterparts, most of the large Canadian financial institutions were not forced to cut their dividends during the financial crisis. Many of the Canadian banks did pause dividend growth during this period, but most returned to increasing dividends very shortly thereafter. The Canadian banks' ability to maintain dividends in the last recession is evidence that they are well managed.
Canada’s largest banks are also also offering 5%-plus dividend yields at the moment, with many trading with a single-digit price-earnings ratio. A high yield, low valuation is often a value investor’s dream scenario.
As such, we will explore why
According to the GuruFocus All-In-One Screener, as of Wednesday, the following companies look cheap since they are trading with low price-sales ratios.
Sempra Energy (SRE) is trading around $147 per share with a price-sales ratio of 3.58 and a price-earnings ratio of 21.43.
The company, which distributes natural gas and electricity in Southern California, has a market cap of $40 billion. The stock has risen at an annualized rate of 12.88% over the past decade.
The discounted cash flow calculator gives the stock a fair value of $72.88, suggesting it is overpriced by
According to the GuruFocus All-in-One Screener, the following companies have high dividend yields but performed poorly over the last 12 months.
ING Groep NV (ING)'s dividend yield is 6.69% with a payout ratio of 50%. Over the last 52 weeks, the share price has fallen 23%. The stock is trading with a price-book ratio of 0.81 and a price-earnings ratio of 8.40.
The bank, headquartered in the Netherlands, has a market cap of $44.68 billion and a profitability and growth rating of 4 out of 10. The return on equity of 9.82% and return on assets of 0.54% are
The firm, which Ketterer founded in 2001 with Harry Hartford, notes on it its website it seeks to achieve superior risk-adjusted returns by investing in mispriced equities in both developed and emerging markets. The current portfolio of 92 stocks is largely composed of equities in the technology sector.
The guru investor established positions in three stocks and one exchange-traded fund during the quarter: FirstEnergy Corp. (FE), Credicorp Ltd. (BAP), Autohome Inc.
According to the GuruFocusÂ All-In-One Screener, the following companies have grown their revenues and earnings over the past several years.
Gilead Sciences Inc. (GILD) has a five-year annual revenue growth rate of 40% and a five-year annual earnings per share (EPS) growth rate of 58%. The stock is trading with a price-earnings (P/E) ratio of 8.6 and has a positive six-month return of 17.9%.
The biopharmaceutical company has a market cap of $99.39 billion and an enterprise value of $100.43 billion.
GuruFocus gives the company a profitability and growth rating of 9 out of
Sarah Ketterer (Trades, Portfolio)’s Causeway International Value (Trades, Portfolio) Fund released its third-quarter portfolio this week, disclosing it established three new positions and divested two others.
The fund invests primarily in international stocks to achieve long-term growth of capital and income. Managing a portfolio of 56 stocks, Causeway is heavily invested in the industrials and financial services sectors. In 2016, the fund returned 0.17%, underperforming the S&P 500’s return of 11.96%.
The fund established holdings in Takeda Pharmaceutical Co. Ltd. (TSE:4502), Micro Focus International PLC (LSE:MCRO) and Canadian Imperial Bank of Commerce (TSX:CM).
Managing a portfolio of 88 stocks, Ketterer focuses on global equities. The technology sector composes the largest portion of the portfolio at 26.8%.
Ketterer established positions in Viacom Inc. (VIAB), Canadian Imperial Bank of Commerce (CM), Momo Inc. (MOMO), Micro Focus International PLC (MFGP) and China Lodging Group Ltd. (HTHT).
Ketterer purchased a 3.8 million-share stake in Viacom for an average price of $30.94 per share, giving it 1.2% portfolio space.
The New York-based media company has
(Published by Nick McCullum on July 24)
The financials industry is full of high-quality, blue-chip stocks.
Before showing you an example, it is important to understand what a blue-chip stock really is.
There is no formal definition of a blue-chip stock that is widely accepted among financial professionals. The term is used to describe high-quality, economically durable companies that are likely to continue profitable operations for a long, long time.
At Sure Dividend, we define a blue-chip stock as a company with at least an 100-year operating history and an over 3% dividend yield. These two characteristics mean that:
(Published by Nick McCullum on June 14)
On the surface, Student Transportation (STB) has two characteristics that make it appealing to dividend investors.
The first is its dividend yield. Student Transportation is trading at a dividend yield of 7.4%, making it a member of the short list of high dividend stocks with 5%-plus dividend yields.
The second noticeable characteristic of Student Transportation is that it pays monthly dividends.
Monthly dividends are ideal for investors that rely on dividend income to cover their expenses, such as
Every quarter we like to reflect on which trades have performed well and which trades have performed poorly. In the last quarter some of our best-performing trades were in the Canadian financial sector. What we want to know is if we should consider further increasing our positions in Canadian bank stocks for long-term investments and, if so, which banks we shouldÂ be considering.
Which method should we consider if we are looking at the big Canadian banks for long-term investments? Investors use various methods for valuing financial companies, such as discounted cash-flow valuation and residual income valuation as well as
There are a number of great companies in the market today. The ModernGraham valuation model selected some of the most undervalued Canadian companies. Each company has been determined to be suitable for the Defensive Investor or the Enterprising Investor according to the ModernGraham approach.
Defensive Investors are defined as investors who are not able or willing to do substantial research into individual investments, and therefore need to select only the companies that present the least amount of risk. Enterprising Investors, on the other hand, are able to do substantial research and can select companies that present a moderate (though
Finding companies with 3%-plus dividend yields, sustainable payouts ratios and long histories of raising their dividend payments is difficult. Companies with one of these traits is easy – but it is the combination of factors that makes these investments rare.
Now what if I told you there was an entire group of companies that satisfied these criteria? The group of companies I am referring to is the ‘Big 5’ Canadian banks, which consist of:
(Published Dec. 6 by The Financial Canadian)
It is well-documented that investors in smaller businesses are often rewarded by faster business growth.
The Canadian Imperial Bank of Commerce (CM) is the smallest of the Big Five Canadian banks, a fantastic group of businesses with proven track records of delivering value to their shareholders.
The "Big Five" Canadian Banks are:
- The Royal Bank of Canada (RY).
- The Toronto-Dominon Bank (TD).
- The Bank of Nova Scotia (BNS).
- The Bank of Montreal (BMO).
- The Canadian Imperial Bank of Commerce.
For investors looking for more upside potential from a
(This is a guest contribution from The Financial Canadian.)
Throughout this post I will be providing investment research. However, this research is not valid without the assumption that readers will be investing with a long-term horizon (meaning a minimum of three years).
Long-term systematic investing is extremely important. Investors can lose out on outstanding long-term returns by trading too often. With a short-term horizon, we are subject to the whims of the market and investor psychology.
It is no secret that US blue-chip dividend paying stocks are trading at extremely high valuations relative to historical norms. Interest rates remain at all-time lows, and investors hungry for yield have turned to blue-chip dividend growth stocks in order to satisfy their appetites. For the past seven years or so that strategy has worked out quite well, on both a capital appreciation and dividend income growth basis. Seven years is a long time, and the longer that the bull market in blue-chip dividend growth stocks runs, the more complacency it breeds.
Complacency leads to overconfidence, and in my
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