Canadian Imperial Bank of Commerce (NYSE:CM) Downgraded by Jefferies Financial Group to Hold

Canadian Imperial Bank of Commerce (NYSE:CM - Get Free Report) TSE: CM was downgraded by investment analysts at Jefferies Financial Group from a "buy" rating to a "hold" rating in a research note issued on Monday,Finviz reports.

Several other research analysts have also weighed in on CM. Royal Bank of Canada upgraded shares of Canadian Imperial Bank of Commerce from a "sector perform" rating to an "outperform" rating and increased their price objective for the stock from $97.00 to $103.00 in a report on Wednesday, January 8th. StockNews.com upgraded Canadian Imperial Bank of Commerce from a "sell" rating to a "hold" rating in a report on Monday, April 14th. Three equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $92.00.

Canadian Imperial Bank of Commerce Trading Up 0.3 %

Shares of Canadian Imperial Bank of Commerce stock opened at $58.94 on Monday. The firm has a market cap of $55.41 billion, a PE ratio of 11.02, a P/E/G ratio of 1.62 and a beta of 0.98. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 0.14. Canadian Imperial Bank of Commerce has a fifty-two week low of $46.50 and a fifty-two week high of $67.45. The business's fifty day moving average is $58.14 and its two-hundred day moving average is $61.56.

Institutional Investors Weigh In On Canadian Imperial Bank of Commerce

A number of large investors have recently made changes to their positions in the company. JPMorgan Chase & Co. boosted its position in shares of Canadian Imperial Bank of Commerce by 6.1% in the third quarter. JPMorgan Chase & Co. now owns 5,857,844 shares of the bank's stock worth $359,320,000 after buying an additional 334,545 shares during the period. Rhumbline Advisers increased its holdings in shares of Canadian Imperial Bank of Commerce by 12.6% in the 4th quarter. Rhumbline Advisers now owns 3,622 shares of the bank's stock valued at $229,000 after purchasing an additional 404 shares during the period. American Century Companies Inc. lifted its position in shares of Canadian Imperial Bank of Commerce by 8.5% in the fourth quarter. American Century Companies Inc. now owns 299,211 shares of the bank's stock worth $18,927,000 after purchasing an additional 23,403 shares in the last quarter. Smith Group Asset Management LLC purchased a new position in Canadian Imperial Bank of Commerce during the fourth quarter valued at approximately $4,875,000. Finally, Mission Wealth Management LP acquired a new position in Canadian Imperial Bank of Commerce in the 4th quarter valued at approximately $322,000. Institutional investors and hedge funds own 49.88% of the company's stock.

Canadian Imperial Bank of Commerce Company Profile

Canadian Imperial Bank of Commerce, a diversified financial institution, provides various financial products and services to personal, business, public sector, and institutional clients in Canada, the United States, and internationally. The company operates through Canadian Personal and Business Banking; Canadian Commercial Banking and Wealth Management; U.S.

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