Bridgewater Associates LP Takes $601,000 Position in Canadian Imperial Bank of Commerce (NYSE:CM)

Bridgewater Associates LP acquired a new position in shares of Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) during the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 9,784 shares of the bank’s stock, valued at approximately $601,000.

Other institutional investors have also added to or reduced their stakes in the company. Ridgewood Investments LLC bought a new position in Canadian Imperial Bank of Commerce in the second quarter valued at $29,000. BNP Paribas Financial Markets acquired a new position in shares of Canadian Imperial Bank of Commerce during the 3rd quarter worth about $44,000. Blue Trust Inc. grew its holdings in shares of Canadian Imperial Bank of Commerce by 571.6% in the 3rd quarter. Blue Trust Inc. now owns 732 shares of the bank’s stock valued at $45,000 after acquiring an additional 623 shares in the last quarter. Whittier Trust Co. of Nevada Inc. bought a new stake in Canadian Imperial Bank of Commerce during the second quarter worth about $51,000. Finally, 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. 49.88% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on the stock. Bank of America upgraded shares of Canadian Imperial Bank of Commerce from a “neutral” rating to a “buy” rating in a report on Friday, August 30th. Cormark raised shares of Canadian Imperial Bank of Commerce from a “hold” rating to a “moderate buy” rating in a report on Friday, August 30th. BMO Capital Markets boosted 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 report on Friday, August 30th. Finally, StockNews.com cut Canadian Imperial Bank of Commerce from a “hold” rating to a “sell” rating in a research report on Saturday, October 19th. Two investment analysts have rated the stock with a sell rating, one has given a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, Canadian Imperial Bank of Commerce has an average rating of “Hold” and an average price target of $81.00.

Canadian Imperial Bank of Commerce Stock Down 1.1 %

Shares of NYSE CM opened at $64.07 on Tuesday. The company has a 50 day simple moving average of $62.78 and a 200 day simple moving average of $55.60. 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 1 year low of $41.44 and a 1 year high of $65.89. The firm has a market cap of $60.52 billion, a PE ratio of 12.59, a price-to-earnings-growth ratio of 1.70 and a beta of 1.06.

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.