Canadian Imperial Bank of Commerce (NYSE:CM) Rating Lowered to “Sell” at StockNews.com

Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) was downgraded by analysts at StockNews.com from a “hold” rating to a “sell” rating in a research note issued on Monday.

Separately, Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $97.00 target price (up previously from $74.00) on shares of Canadian Imperial Bank of Commerce in a report on Friday, December 6th. Two analysts have rated the stock with a sell rating, two have issued a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $89.00.

Canadian Imperial Bank of Commerce Stock Down 0.9 %

Shares of NYSE CM opened at $62.61 on Monday. The business has a 50-day moving average price of $64.39 and a 200 day moving average price of $58.63. The stock has a market cap of $59.00 billion, a PE ratio of 11.70, a price-to-earnings-growth ratio of 1.78 and a beta of 1.06. 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 52-week low of $43.86 and a 52-week high of $67.45.

Hedge Funds Weigh In On Canadian Imperial Bank of Commerce

Hedge funds have recently bought and sold shares of the company. Lantz Financial LLC raised its position in shares of Canadian Imperial Bank of Commerce by 7.1% during the 2nd quarter. Lantz Financial LLC now owns 5,824 shares of the bank’s stock worth $277,000 after purchasing an additional 385 shares during the last quarter. Natixis Advisors LLC boosted its stake in shares of Canadian Imperial Bank of Commerce by 3.9% during the second quarter. Natixis Advisors LLC now owns 43,056 shares of the bank’s stock valued at $2,047,000 after acquiring an additional 1,626 shares during the last quarter. Savant Capital LLC increased its position in Canadian Imperial Bank of Commerce by 5.5% during the 2nd quarter. Savant Capital LLC now owns 10,599 shares of the bank’s stock worth $504,000 after purchasing an additional 549 shares in the last quarter. Acadian Asset Management LLC raised its stake in Canadian Imperial Bank of Commerce by 34.6% in the 2nd quarter. Acadian Asset Management LLC now owns 42,800 shares of the bank’s stock valued at $2,032,000 after purchasing an additional 11,000 shares during the last quarter. Finally, Andra AP fonden purchased a new position in Canadian Imperial Bank of Commerce in the 2nd quarter valued at about $4,516,000. 49.88% of the stock is owned by hedge funds and other institutional investors.

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.