Are Finance Stocks Lagging Canadian Imperial Bank of Commerce (CM) This Year? – March 3, 2023

The Finance group has plenty of great stocks, but investors should always be looking for companies that are outperforming their peers. Is Canadian Imperial Bank (CM Free Report) one of those stocks right now? By taking a look at the stock’s year-to-date performance in comparison to its Finance peers, we might be able to answer that question.

Canadian Imperial Bank is one of 868 companies in the Finance group. The Finance group currently sits at #11 within the Zacks Sector Rank. The Zacks Sector Rank considers 16 different sector groups. The average Zacks Rank of the individual stocks within the groups is measured, and the sectors are listed from best to worst.

The Zacks Rank is a successful stock-picking model that emphasizes earnings estimates and estimate revisions. The system highlights a number of different stocks that could be poised to outperform the broader market over the next one to three months. Canadian Imperial Bank is currently sporting a Zacks Rank of #1 (Strong Buy).

Over the past three months, the Zacks Consensus Estimate for CM’s full-year earnings has moved 10.8% higher. This means that analyst sentiment is stronger and the stock’s earnings outlook is improving.

According to our latest data, CM has moved about 12.8% on a year-to-date basis. In comparison, Finance companies have returned an average of 4.6%. This means that the Canadian Imperial Bank is performing better than its sector in terms of year-to-date returns.

One other Finance stock that has outperformed the sector so far this year is Berkeley Group Holdings PLC Unsponsored ADR (BKGFY Free Report) . The stock is up 8% year-to-date.

For Berkeley Group Holdings PLC Unsponsored ADR, the consensus EPS estimate for the current year has increased 10.1% over the past three months. The stock currently has a Zacks Rank #2 (Buy).

Looking more specifically, Canadian Imperial Bank belongs to the Banks – Foreign industry, which includes 67 individual stocks and currently sits at #22 in the Zacks Industry Rank. On average, this group has gained an average of 7.1% so far this year, meaning that CM is performing better in terms of year-to-date returns.

In contrast, Berkeley Group Holdings PLC Unsponsored ADR falls under the Real Estate – Development industry. Currently, this industry has 13 stocks and is ranked #177. Since the beginning of the year, the industry has moved +6.3%.

Investors with an interest in Finance stocks should continue to track Canadian Imperial Bank and Berkeley Group Holdings PLC Unsponsored ADR. These stocks will be looking to continue their solid performance.