Canadian Imperial Bank of Commerce (NYSE:CM) Rating Increased to Hold at StockNews.com

Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) was upgraded by equities research analysts at 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 target for the company from $97.00 to $103.00 in a report on Wednesday, January 8th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and six have issued a buy rating to the company. According to MarketBeat.com, Canadian Imperial Bank of Commerce has a consensus rating of “Moderate Buy” and an average target price of $92.00.

Canadian Imperial Bank of Commerce Stock Down 0.0 %

Canadian Imperial Bank of Commerce stock traded down $0.03 during midday trading on Thursday, hitting $63.60. 828,907 shares of the stock were exchanged, compared to its average volume of 1,226,422. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.05 and a quick ratio of 1.05. The company has a 50 day moving average price of $64.15 and a two-hundred day moving average price of $59.68. The firm has a market cap of $59.94 billion, a P/E ratio of 11.89, a P/E/G ratio of 1.67 and a beta of 1.06. Canadian Imperial Bank of Commerce has a 1 year low of $43.86 and a 1 year high of $67.45.

Hedge Funds Weigh In On Canadian Imperial Bank of Commerce

Several hedge funds and other institutional investors have recently modified their holdings of the company. Crews Bank & Trust bought a new position in shares of Canadian Imperial Bank of Commerce in the fourth quarter worth $25,000. BNP Paribas Financial Markets acquired a new stake in Canadian Imperial Bank of Commerce in the third quarter worth about $44,000. Blue Trust Inc. grew its position in Canadian Imperial Bank of Commerce by 571.6% in the 3rd quarter. Blue Trust Inc. now owns 732 shares of the bank’s stock valued at $45,000 after buying an additional 623 shares in the last quarter. Versant Capital Management Inc increased its stake in Canadian Imperial Bank of Commerce by 1,069.4% during the 4th quarter. Versant Capital Management Inc now owns 725 shares of the bank’s stock valued at $46,000 after buying an additional 663 shares during the period. Finally, Massmutual Trust Co. FSB ADV raised its position in shares of Canadian Imperial Bank of Commerce by 23.1% during 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 in the last quarter. Institutional investors and hedge funds 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.