Canadian Imperial Bank of Commerce (NYSE:CM) Stock Rating Upgraded by 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 note issued to investors on Thursday.

Separately, Royal Bank of Canada raised shares of Canadian Imperial Bank of Commerce from a “sector perform” rating to an “outperform” rating and upped their price objective for the stock 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. Based on data from MarketBeat, Canadian Imperial Bank of Commerce presently has a consensus rating of “Moderate Buy” and a consensus price target of $92.00.

Canadian Imperial Bank of Commerce Price Performance

CM stock opened at $63.52 on Thursday. The company’s fifty day simple moving average is $64.14 and its 200 day simple moving average is $59.70. Canadian Imperial Bank of Commerce has a 12-month low of $43.86 and a 12-month high of $67.45. The firm has a market cap of $59.86 billion, a price-to-earnings ratio of 11.87, a PEG ratio of 1.68 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.

Institutional Investors Weigh In On Canadian Imperial Bank of Commerce

A number of institutional investors have recently modified their holdings of CM. Five Oceans Advisors increased its position in shares of Canadian Imperial Bank of Commerce by 8.2% during the fourth quarter. Five Oceans Advisors now owns 4,560 shares of the bank’s stock valued at $288,000 after acquiring an additional 344 shares in the last quarter. Mediolanum International Funds Ltd bought a new stake in shares of Canadian Imperial Bank of Commerce in the 4th quarter worth $2,935,000. Crews Bank & Trust bought a new stake in shares of Canadian Imperial Bank of Commerce in the 4th quarter worth $25,000. Smith Group Asset Management LLC purchased a new position in shares of Canadian Imperial Bank of Commerce in the fourth quarter worth $4,875,000. Finally, Blue Trust Inc. lifted its holdings in shares of Canadian Imperial Bank of Commerce by 132.0% during the fourth quarter. Blue Trust Inc. now owns 1,698 shares of the bank’s stock valued at $104,000 after purchasing an additional 966 shares in the last quarter. 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.