Canadian Imperial Bank of Commerce (NYSE:CM) Position Increased by Cerity Partners LLC

Cerity Partners LLC grew its position in shares of Canadian Imperial Bank of Commerce (NYSE:CM - Free Report) TSE: CM by 54.0% in the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 24,585 shares of the bank's stock after buying an additional 8,620 shares during the quarter. Cerity Partners LLC's holdings in Canadian Imperial Bank of Commerce were worth $1,508,000 as of its most recent filing with the SEC.

Other large investors also recently bought and sold shares of the company. Ridgewood Investments LLC acquired a new position in shares of Canadian Imperial Bank of Commerce during the 2nd quarter worth $29,000. Blue Trust Inc. grew its stake in shares of Canadian Imperial Bank of Commerce by 571.6% during the 3rd quarter. Blue Trust Inc. now owns 732 shares of the bank's stock worth $45,000 after purchasing an additional 623 shares during the period. Whittier Trust Co. of Nevada Inc. acquired a new position in shares of Canadian Imperial Bank of Commerce during the 2nd quarter worth $51,000. Massmutual Trust Co. FSB ADV grew its stake in shares of Canadian Imperial Bank of Commerce by 23.1% during the 3rd quarter. Massmutual Trust Co. FSB ADV now owns 911 shares of the bank's stock worth $56,000 after purchasing an additional 171 shares during the period. Finally, City State Bank acquired a new position in shares of Canadian Imperial Bank of Commerce during the 3rd quarter worth $61,000. Hedge funds and other institutional investors own 49.88% of the company's stock.

Canadian Imperial Bank of Commerce Trading Up 0.3 %

CM stock traded up $0.17 during midday trading on Wednesday, reaching $63.64. 1,149,220 shares of the company's stock traded hands, compared to its average volume of 1,363,420. The company has a market capitalization of $60.11 billion, a P/E ratio of 12.50, a PEG ratio of 1.69 and a beta of 1.06. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.05 and a quick ratio of 1.05. Canadian Imperial Bank of Commerce has a fifty-two week low of $41.77 and a fifty-two week high of $65.89. The business has a 50-day moving average price of $62.90 and a two-hundred day moving average price of $55.86.

Analysts Set New Price Targets

CM has been the topic of a number of research reports. StockNews.com cut shares of Canadian Imperial Bank of Commerce from a "hold" rating to a "sell" rating in a research note on Saturday, October 19th. Bank of America raised shares of Canadian Imperial Bank of Commerce from a "neutral" rating to a "buy" rating in a research note on Friday, August 30th. Cormark raised shares of Canadian Imperial Bank of Commerce from a "hold" rating to a "moderate buy" rating in a research note on Friday, August 30th. Finally, BMO Capital Markets raised their price target on shares of 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 analysts have rated the stock with a sell rating, one has given a hold rating and six have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target of $81.00.

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.