Canadian Imperial Bank of Commerce (NYSE:CM - Get Free Report) TSE: CM was upgraded by analysts at StockNews.com from a "sell" rating to a "hold" rating in a report issued on Friday.
Separately, Royal Bank of Canada raised shares of Canadian Imperial Bank of Commerce from a "sector perform" rating to an "outperform" rating and upped their price target for the stock from $97.00 to $103.00 in a research note on Wednesday, January 8th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $92.00.
View Our Latest Report on CM
Canadian Imperial Bank of Commerce Price Performance
Shares of NYSE:CM traded up $0.09 on Friday, reaching $62.10. 546,590 shares of the company were exchanged, compared to its average volume of 1,094,838. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 0.14. Canadian Imperial Bank of Commerce has a 1-year low of $45.13 and a 1-year high of $67.45. The firm has a market cap of $58.53 billion, a price-to-earnings ratio of 11.61, a price-to-earnings-growth ratio of 1.64 and a beta of 1.05. The company has a 50-day moving average of $63.40 and a 200-day moving average of $61.23.
Institutional Investors Weigh In On Canadian Imperial Bank of Commerce
Several institutional investors and hedge funds have recently made changes to their positions in CM. Crews Bank & Trust purchased a new position in Canadian Imperial Bank of Commerce in the 4th quarter valued at about $25,000. Operose Advisors LLC purchased a new position in shares of Canadian Imperial Bank of Commerce during the 4th quarter worth about $26,000. SBI Securities Co. Ltd. purchased a new position in shares of Canadian Imperial Bank of Commerce during the 4th quarter worth about $30,000. Sandy Spring Bank purchased a new position in shares of Canadian Imperial Bank of Commerce during the 4th quarter worth about $32,000. Finally, IFP Advisors Inc lifted its holdings in shares of Canadian Imperial Bank of Commerce by 318.1% during the 4th quarter. IFP Advisors Inc now owns 531 shares of the bank's stock worth $34,000 after acquiring an additional 404 shares during the period. 49.88% of the stock is currently owned by hedge funds and other institutional investors.
About Canadian Imperial Bank of Commerce
(
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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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