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 research analysts at StockNews.com from a “sell” rating to a “hold” rating in a research 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 raised their price objective 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 given a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat.com, Canadian Imperial Bank of Commerce currently has an average rating of “Moderate Buy” and a consensus price target of $92.00.

Canadian Imperial Bank of Commerce Price Performance

Shares of CM stock traded down $0.03 during midday trading on Thursday, reaching $63.60. 828,907 shares of the company traded hands, compared to its average volume of 1,226,422. Canadian Imperial Bank of Commerce has a 1-year low of $43.86 and a 1-year high of $67.45. The firm has a market cap of $59.94 billion, a PE ratio of 11.89, a price-to-earnings-growth ratio of 1.67 and a beta of 1.06. The firm’s 50 day simple moving average is $64.15 and its two-hundred day simple moving average is $59.68. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.05 and a quick ratio of 1.05.

Institutional Investors Weigh In On Canadian Imperial Bank of Commerce

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Massmutual Trust Co. FSB ADV boosted its stake in 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 worth $56,000 after buying an additional 171 shares during the last quarter. Wealth Enhancement Advisory Services LLC lifted its holdings in shares of Canadian Imperial Bank of Commerce by 4.9% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 4,161 shares of the bank’s stock worth $255,000 after acquiring an additional 194 shares during the period. PDS Planning Inc boosted its position in shares of Canadian Imperial Bank of Commerce by 4.7% in the third quarter. PDS Planning Inc now owns 4,978 shares of the bank’s stock worth $305,000 after acquiring an additional 224 shares during the last quarter. MML Investors Services LLC grew its holdings in Canadian Imperial Bank of Commerce by 0.5% in the third quarter. MML Investors Services LLC now owns 44,008 shares of the bank’s stock valued at $2,699,000 after purchasing an additional 237 shares during the period. Finally, MassMutual Private Wealth & Trust FSB increased its position in Canadian Imperial Bank of Commerce by 27.4% during the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 1,161 shares of the bank’s stock worth $73,000 after purchasing an additional 250 shares during the last quarter. Hedge funds and other 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.