Canadian Imperial Bank of Commerce (NYSE:CM) Upgraded by StockNews.com to “Hold” Rating

Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) was upgraded by equities researchers at StockNews.com from a “sell” rating to a “hold” rating in a report released on Friday.

A number of other research firms also recently weighed in on CM. Bank of America upgraded Canadian Imperial Bank of Commerce from a “neutral” rating to a “buy” rating in a research report on Friday, August 30th. Royal Bank of Canada reiterated a “sector perform” rating and set a $97.00 price objective (up from $74.00) on shares of Canadian Imperial Bank of Commerce in a research note on Friday. BMO Capital Markets boosted their target price on shares of Canadian Imperial Bank of Commerce from $77.00 to $81.00 and gave the company an “outperform” rating in a research report on Friday, August 30th. Finally, Cormark upgraded shares of Canadian Imperial Bank of Commerce from a “hold” rating to a “moderate buy” rating in a research report on Friday, August 30th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, Canadian Imperial Bank of Commerce has an average rating of “Moderate Buy” and a consensus target price of $89.00.

Canadian Imperial Bank of Commerce Price Performance

Shares of Canadian Imperial Bank of Commerce stock opened at $66.66 on Friday. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 0.14. The stock has a market capitalization of $62.97 billion, a price-to-earnings ratio of 12.46, a price-to-earnings-growth ratio of 1.67 and a beta of 1.06. Canadian Imperial Bank of Commerce has a twelve month low of $42.28 and a twelve month high of $67.14. The company has a 50-day simple moving average of $63.10 and a two-hundred day simple moving average of $56.11.

Institutional Trading of Canadian Imperial Bank of Commerce

A number of hedge funds and other institutional investors have recently modified their holdings of CM. Ridgewood Investments LLC acquired a new position in Canadian Imperial Bank of Commerce in the 2nd quarter valued at approximately $29,000. BNP Paribas Financial Markets acquired a new stake in Canadian Imperial Bank of Commerce in the third quarter valued at $44,000. Blue Trust Inc. raised its position 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 worth $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 2nd quarter worth about $51,000. Finally, Massmutual Trust Co. FSB ADV grew its position 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 valued at $56,000 after buying an additional 171 shares during the last quarter. Institutional investors own 49.88% of the company’s stock.

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.