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Inv Reporter refreshes CIBC buy

2022-09-16 20:04 ET - In the News

The Investment Reporter, in its Sept. 9, 2022, issue, refreshes its buy of CIBC, recently $63.80. The Reporter said buy 34 times from June 26, 1996, to May 20, 2022, at prices ranging from $32.00 to $139.37 (the stock split 2:1 in March, 1997, and then split 2:1 again in May, 2022). Assuming an investment of $1,000 for each of the 34 buys, the $34,000 position would now be worth $69,414. CIBC is the fifth-largest bank in Canada by market cap. The market was not impressed with the financial results of Canada's big banks for the fiscal third quarter of 2022. The poor results are largely why the banks' share prices have fallen recently. The Reporter notes that investment banking and financial markets can change suddenly and unpredictably. It says the Canadian banks will recover at some point in the not-too-distant future. While it is difficult to commit to buying stocks when markets are in turmoil, difficult times are often the best opportunities to invest. The Reporter says keep buying CIBC for long-term share price gains and income.

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