UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Has $70.38 Million Stock Position in Canadian Imperial Bank of Commerce (NYSE:CM)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC trimmed its position in Canadian Imperial Bank of Commerce (NYSE:CM - Free Report) TSE: CM by 12.6% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,147,311 shares of the bank's stock after selling 164,730 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned approximately 0.12% of Canadian Imperial Bank of Commerce worth $70,376,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Ridgewood Investments LLC acquired a new stake in Canadian Imperial Bank of Commerce in the second quarter worth about $29,000. BNP Paribas Financial Markets acquired a new stake in Canadian Imperial Bank of Commerce in the third quarter worth approximately $44,000. Blue Trust Inc. boosted its stake in Canadian Imperial Bank of Commerce by 571.6% during the 3rd quarter. Blue Trust Inc. now owns 732 shares of the bank's stock valued at $45,000 after purchasing an additional 623 shares in the last quarter. Whittier Trust Co. of Nevada Inc. acquired a new position in shares of Canadian Imperial Bank of Commerce during the 2nd quarter valued at $51,000. Finally, Massmutual Trust Co. FSB ADV raised its stake in shares of Canadian Imperial Bank of Commerce by 23.1% in the 3rd quarter. Massmutual Trust Co. FSB ADV now owns 911 shares of the bank's stock worth $56,000 after buying an additional 171 shares in the last quarter. 49.88% of the stock is owned by institutional investors and hedge funds.

Canadian Imperial Bank of Commerce Stock Down 0.9 %

NYSE:CM traded down $0.60 on Tuesday, hitting $63.47. 1,104,775 shares of the company's stock traded hands, compared to its average volume of 674,398. The firm has a 50-day moving average price of $62.78 and a 200-day moving average price of $55.60. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 0.14. The company has a market cap of $59.95 billion, a PE ratio of 12.47, a price-to-earnings-growth ratio of 1.69 and a beta of 1.06. Canadian Imperial Bank of Commerce has a 1 year low of $41.44 and a 1 year high of $65.89.

Analyst Ratings Changes

Several equities research analysts have commented on CM shares. StockNews.com cut shares of 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 report on Friday, August 30th. Bank of America upgraded Canadian Imperial Bank of Commerce from a "neutral" rating to a "buy" rating in a report on Friday, August 30th. Finally, BMO Capital Markets lifted their price target 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 given a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of "Hold" and a consensus target price of $81.00.

About Canadian Imperial Bank of Commerce

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.