Canadian Imperial Bank of Commerce (NYSE:CM) Receives New Coverage from Analysts at StockNews.com

Equities research analysts at StockNews.com started coverage on shares of Canadian Imperial Bank of Commerce (NYSE:CMGet Rating) (TSE:CM) in a research note issued on Thursday. The firm set a “hold” rating on the bank’s stock.

CM has been the subject of several other reports. CIBC raised Canadian Imperial Bank of Commerce from a “sector perform” rating to an “outperform” rating and lowered their target price for the company from C$67.00 to C$61.00 in a report on Tuesday, December 20th. Credit Suisse Group lowered Canadian Imperial Bank of Commerce from an “outperform” rating to a “neutral” rating in a report on Friday, December 9th. Bank of America lowered Canadian Imperial Bank of Commerce from a “neutral” rating to an “underperform” rating in a report on Monday, December 12th. National Bank Financial lowered Canadian Imperial Bank of Commerce from an “outperform” rating to a “sector perform” rating in a report on Thursday, December 1st. Finally, Royal Bank of Canada increased their price objective on Canadian Imperial Bank of Commerce from $69.00 to $70.00 and gave the stock a “sector perform” rating in a report on Monday, February 27th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $76.11.

Canadian Imperial Bank of Commerce Stock Down 2.1 %

NYSE:CM opened at $41.12 on Thursday. The firm has a market capitalization of $37.49 billion, a PE ratio of 10.44, a price-to-earnings-growth ratio of 2.20 and a beta of 1.02. The stock has a 50 day moving average of $44.58 and a 200-day moving average of $44.70. Canadian Imperial Bank of Commerce has a 52 week low of $39.40 and a 52 week high of $65.81. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 0.16.

Hedge Funds Weigh In On Canadian Imperial Bank of Commerce

A number of institutional investors and hedge funds have recently added to or reduced their stakes in CM. Toronto Dominion Bank lifted its position in shares of Canadian Imperial Bank of Commerce by 127.8% during the 2nd quarter. Toronto Dominion Bank now owns 22,413,194 shares of the bank’s stock valued at $1,090,825,000 after acquiring an additional 12,575,940 shares during the last quarter. National Bank of Canada FI lifted its position in shares of Canadian Imperial Bank of Commerce by 594.2% during the 4th quarter. National Bank of Canada FI now owns 14,574,235 shares of the bank’s stock valued at $589,327,000 after acquiring an additional 12,474,796 shares during the last quarter. Norges Bank acquired a new stake in shares of Canadian Imperial Bank of Commerce during the 4th quarter valued at $305,412,000. Healthcare of Ontario Pension Plan Trust Fund lifted its position in shares of Canadian Imperial Bank of Commerce by 726.9% during the 2nd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 6,770,000 shares of the bank’s stock valued at $328,744,000 after acquiring an additional 5,951,272 shares during the last quarter. Finally, Canada Pension Plan Investment Board lifted its position in shares of Canadian Imperial Bank of Commerce by 566.7% during the 3rd quarter. Canada Pension Plan Investment Board now owns 5,325,315 shares of the bank’s stock valued at $234,321,000 after acquiring an additional 4,526,515 shares during the last quarter. 44.40% of the stock is owned by institutional investors.

About Canadian Imperial Bank of Commerce

(Get Rating)

Canadian Imperial Bank of Commerce is a financial institution, which engages in the provision of banking and wealth management services. It operates through the following segments: Canadian Personal and Business Banking, Canadian Commercial Banking and Wealth Management, U.S. Commercial Banking and Wealth Management, Capital Markets, and Corporate and Other.

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Analyst Recommendations for Canadian Imperial Bank of Commerce (NYSE:CM)

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