Canadian Imperial Bank of Commerce (NYSE:CM) Raised to “Hold” at StockNews.com

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

Separately, Royal Bank of Canada upgraded Canadian Imperial Bank of Commerce from a “sector perform” rating to an “outperform” rating and lifted their target price for the company from $97.00 to $103.00 in a research report on Wednesday, January 8th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $92.00.

Canadian Imperial Bank of Commerce Trading Up 0.1 %

Shares of CM stock opened at $61.67 on Tuesday. Canadian Imperial Bank of Commerce has a fifty-two week low of $43.86 and a fifty-two week high of $67.45. The stock’s fifty day moving average price is $63.88 and its two-hundred day moving average price is $60.62. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.05 and a current ratio of 1.05. The company has a market cap of $58.12 billion, a PE ratio of 11.53, a P/E/G ratio of 1.66 and a beta of 1.05.

Institutional Investors Weigh In On Canadian Imperial Bank of Commerce

Several hedge funds have recently added to or reduced their stakes in the business. Squarepoint Ops LLC bought a new position in shares of Canadian Imperial Bank of Commerce during the second quarter valued at $407,000. Sanctuary Advisors LLC bought a new position in Canadian Imperial Bank of Commerce during the 2nd quarter worth $326,000. Park Avenue Securities LLC lifted its holdings in Canadian Imperial Bank of Commerce by 43.5% during the 3rd quarter. Park Avenue Securities LLC now owns 8,625 shares of the bank’s stock worth $529,000 after buying an additional 2,615 shares during the period. Atomi Financial Group Inc. lifted its holdings in Canadian Imperial Bank of Commerce by 41.7% during the 3rd quarter. Atomi Financial Group Inc. now owns 7,879 shares of the bank’s stock worth $483,000 after buying an additional 2,318 shares during the period. Finally, Perfromance Wealth Partners LLC bought a new stake in shares of Canadian Imperial Bank of Commerce in the 3rd quarter valued at about $323,000. 49.88% of the stock is currently owned by institutional investors and hedge funds.

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.