Fmr LLC Has $129.24 Million Stake in Canadian Imperial Bank of Commerce (NYSE:CM)

FMR LLC lifted its position in shares of Canadian Imperial Bank of Commerce (NYSE:CM - Free Report) TSE: CM by 3.3% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,106,913 shares of the bank's stock after buying an additional 67,480 shares during the period. FMR LLC owned about 0.22% of Canadian Imperial Bank of Commerce worth $129,239,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Ridgewood Investments LLC acquired a new position in shares of Canadian Imperial Bank of Commerce during the second quarter worth about $29,000. Blue Trust Inc. boosted its position in Canadian Imperial Bank of Commerce by 571.6% during the third quarter. Blue Trust Inc. now owns 732 shares of the bank's stock valued at $45,000 after purchasing an additional 623 shares during the last quarter. Whittier Trust Co. of Nevada Inc. acquired a new position in Canadian Imperial Bank of Commerce during the second quarter valued at approximately $51,000. Massmutual Trust Co. FSB ADV boosted its position in Canadian Imperial Bank of Commerce by 23.1% during the third quarter. Massmutual Trust Co. FSB ADV now owns 911 shares of the bank's stock valued at $56,000 after purchasing an additional 171 shares during the last quarter. Finally, City State Bank acquired a new position in Canadian Imperial Bank of Commerce during the third quarter valued at approximately $61,000. 49.88% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

CM has been the subject of several recent research reports. StockNews.com cut Canadian Imperial Bank of Commerce from a "hold" rating to a "sell" rating in a research report on Saturday, October 19th. Cormark upgraded Canadian Imperial Bank of Commerce from a "hold" rating to a "moderate buy" rating in a research note on Friday, August 30th. Bank of America upgraded Canadian Imperial Bank of Commerce from a "neutral" rating to a "buy" rating in a research note on Friday, August 30th. Finally, BMO Capital Markets increased their target price on Canadian Imperial Bank of Commerce from $77.00 to $81.00 and gave the stock an "outperform" rating in a research note on Friday, August 30th. Two equities research analysts have rated the stock with a sell rating, one has assigned a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus price target of $81.00.

Canadian Imperial Bank of Commerce Price Performance

Shares of CM stock traded up $0.17 during trading hours on Wednesday, reaching $63.64. The company's stock had a trading volume of 1,149,220 shares, compared to its average volume of 1,363,420. The firm's 50 day simple moving average is $62.90 and its 200-day simple moving average is $55.86. The company has a market capitalization of $60.11 billion, a price-to-earnings ratio of 12.50, a PEG ratio of 1.69 and a beta of 1.06. Canadian Imperial Bank of Commerce has a fifty-two week low of $41.77 and a fifty-two week high of $65.89. 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 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.