Canadian Imperial Bank of Commerce (NYSE:CM) Lowered to “Sell” at StockNews.com

Canadian Imperial Bank of Commerce (NYSE:CM – Get Rating) (TSE:CM) was downgraded by equities researchers at StockNews.com from a “hold” rating to a “sell” rating in a report released on Friday.

Several other equities analysts have also commented on CM. Royal Bank of Canada increased their target price on shares of Canadian Imperial Bank of Commerce from $69.00 to $70.00 and gave the company a “sector perform” rating in a report on Monday, February 27th. CIBC raised shares of Canadian Imperial Bank of Commerce from a “hold” rating to a “buy” rating in a report on Tuesday, May 9th. Finally, Canaccord Genuity Group raised shares of Canadian Imperial Bank of Commerce from a “hold” rating to a “buy” rating in a report on Wednesday, May 10th. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $74.14.

Canadian Imperial Bank of Commerce Price Performance

CM stock opened at $41.66 on Friday. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.05 and a current ratio of 1.05. Canadian Imperial Bank of Commerce has a 52 week low of $39.40 and a 52 week high of $56.68. The firm’s fifty day moving average is $41.94 and its 200 day moving average is $43.49. The firm has a market cap of $38.23 billion, a P/E ratio of 10.57, a P/E/G ratio of 1.59 and a beta of 1.01.

Canadian Imperial Bank of Commerce (NYSE:CM – Get Rating) (TSE:CM) last released its earnings results on Friday, February 24th. The bank reported $1.44 EPS for the quarter, beating the consensus estimate of $1.23 by $0.21. Canadian Imperial Bank of Commerce had a net margin of 12.75% and a return on equity of 14.51%. The company had revenue of $4.40 billion for the quarter. Research analysts predict that Canadian Imperial Bank of Commerce will post 5.22 earnings per share for the current year.

Institutional Investors Weigh In On Canadian Imperial Bank of Commerce

A number of large investors have recently modified their holdings of CM. Ridgewood Investments LLC purchased a new position in Canadian Imperial Bank of Commerce during the 1st quarter valued at about $25,000. Twin Tree Management LP lifted its position in Canadian Imperial Bank of Commerce by 106.1% during the 3rd quarter. Twin Tree Management LP now owns 600 shares of the bank’s stock valued at $26,000 after acquiring an additional 10,400 shares during the period. Glassman Wealth Services lifted its position in Canadian Imperial Bank of Commerce by 49.8% during the 4th quarter. Glassman Wealth Services now owns 659 shares of the bank’s stock valued at $27,000 after acquiring an additional 219 shares during the period. Banque Cantonale Vaudoise lifted its position in Canadian Imperial Bank of Commerce by 67.6% during the 4th quarter. Banque Cantonale Vaudoise now owns 744 shares of the bank’s stock valued at $30,000 after acquiring an additional 300 shares during the period. Finally, Pacifica Partners Inc. lifted its position in Canadian Imperial Bank of Commerce by 65.9% during the 1st quarter. Pacifica Partners Inc. now owns 846 shares of the bank’s stock valued at $36,000 after acquiring an additional 336 shares during the period. Institutional investors own 44.40% of the company’s stock.

Canadian Imperial Bank of Commerce Company Profile

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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.