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

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 target price for the stock from $97.00 to $103.00 in a research note on Wednesday, January 8th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat, Canadian Imperial Bank of Commerce currently has a consensus rating of “Moderate Buy” and an average target price of $92.00.

Canadian Imperial Bank of Commerce Stock Up 0.5 %

Canadian Imperial Bank of Commerce stock opened at $62.03 on Friday. The company has a 50 day moving average of $63.58 and a 200-day moving average of $61.01. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 0.14. Canadian Imperial Bank of Commerce has a twelve month low of $44.66 and a twelve month high of $67.45. The stock has a market capitalization of $58.45 billion, a PE ratio of 11.59, a price-to-earnings-growth ratio of 1.64 and a beta of 1.05.

Hedge Funds Weigh In On Canadian Imperial Bank of Commerce

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. CANADA LIFE ASSURANCE Co increased its holdings in shares of Canadian Imperial Bank of Commerce by 7.2% in the fourth quarter. CANADA LIFE ASSURANCE Co now owns 747,156 shares of the bank’s stock valued at $47,095,000 after purchasing an additional 49,906 shares during the last quarter. Canada Pension Plan Investment Board boosted its holdings in shares of Canadian Imperial Bank of Commerce by 13.9% during the 4th quarter. Canada Pension Plan Investment Board now owns 4,922,284 shares of the bank’s stock worth $310,972,000 after buying an additional 600,400 shares during the period. Operose Advisors LLC acquired a new position in Canadian Imperial Bank of Commerce in the 4th quarter valued at about $26,000. Bridgewater Associates LP raised its holdings in Canadian Imperial Bank of Commerce by 100.8% in the 4th quarter. Bridgewater Associates LP now owns 19,644 shares of the bank’s stock valued at $1,242,000 after acquiring an additional 9,860 shares during the period. Finally, Guggenheim Capital LLC lifted its position in Canadian Imperial Bank of Commerce by 36.2% during the fourth quarter. Guggenheim Capital LLC now owns 5,614 shares of the bank’s stock worth $355,000 after acquiring an additional 1,491 shares during the last quarter. Institutional investors own 49.88% of the company’s stock.

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.