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 StockNews.com from a “sell” rating to a “hold” rating in a research note issued to investors on Friday.

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

Canadian Imperial Bank of Commerce Stock Up 0.1 %

Shares of Canadian Imperial Bank of Commerce stock opened at $66.66 on Friday. Canadian Imperial Bank of Commerce has a 12 month low of $42.28 and a 12 month high of $67.14. The business has a fifty day simple moving average of $63.10 and a 200 day simple moving average of $56.11. 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 cap of $62.97 billion, a PE ratio of 12.46, a price-to-earnings-growth ratio of 1.67 and a beta of 1.06.

Hedge Funds Weigh In On Canadian Imperial Bank of Commerce

A number of institutional investors have recently added to or reduced their stakes in CM. Cetera Investment Advisers increased its holdings in shares of Canadian Imperial Bank of Commerce by 59.7% during the 1st quarter. Cetera Investment Advisers now owns 47,872 shares of the bank’s stock worth $2,428,000 after acquiring an additional 17,894 shares during the last quarter. Cetera Advisors LLC acquired a new stake in shares of Canadian Imperial Bank of Commerce during the 1st quarter worth about $1,278,000. Lantz Financial LLC boosted its holdings 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 buying an additional 385 shares during the period. Simplicity Wealth LLC grew its stake in Canadian Imperial Bank of Commerce by 3.9% in the 2nd quarter. Simplicity Wealth LLC now owns 6,448 shares of the bank’s stock valued at $307,000 after buying an additional 240 shares during the last quarter. Finally, Addenda Capital Inc. lifted its position in Canadian Imperial Bank of Commerce by 57.7% during the second quarter. Addenda Capital Inc. now owns 409,201 shares of the bank’s stock worth $19,453,000 after acquiring an additional 149,681 shares during the last quarter. 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.