HighTower Advisors LLC Acquires 5,341 Shares of Canadian Imperial Bank of Commerce (NYSE:CM)

HighTower Advisors LLC grew its position in Canadian Imperial Bank of Commerce (NYSE:CM – Get Rating) (TSE:CM) by 17.0% during the 4th quarter, HoldingsChannel reports. The firm owned 36,783 shares of the bank’s stock after purchasing an additional 5,341 shares during the quarter. HighTower Advisors LLC’s holdings in Canadian Imperial Bank of Commerce were worth $1,490,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of CM. Twin Tree Management LP raised its holdings in shares of Canadian Imperial Bank of Commerce by 106.1% during the third quarter. Twin Tree Management LP now owns 600 shares of the bank’s stock worth $26,000 after acquiring an additional 10,400 shares during the period. Glassman Wealth Services raised its holdings in shares of Canadian Imperial Bank of Commerce by 49.8% during the fourth quarter. Glassman Wealth Services now owns 659 shares of the bank’s stock worth $27,000 after acquiring an additional 219 shares during the period. Ronald Blue Trust Inc. raised its holdings in shares of Canadian Imperial Bank of Commerce by 840.4% during the fourth quarter. Ronald Blue Trust Inc. now owns 931 shares of the bank’s stock worth $41,000 after acquiring an additional 832 shares during the period. Spire Wealth Management raised its holdings in shares of Canadian Imperial Bank of Commerce by 48.0% during the third quarter. Spire Wealth Management now owns 962 shares of the bank’s stock worth $42,000 after acquiring an additional 312 shares during the period. Finally, CENTRAL TRUST Co increased its stake in Canadian Imperial Bank of Commerce by 77.8% in the 3rd quarter. CENTRAL TRUST Co now owns 1,600 shares of the bank’s stock valued at $70,000 after buying an additional 700 shares during the last quarter. 44.40% of the stock is currently owned by institutional investors and hedge funds.

Canadian Imperial Bank of Commerce Stock Performance

Shares of CM stock opened at $41.66 on Friday. The company has a market capitalization of $38.23 billion, a price-to-earnings ratio of 10.57, a PEG ratio of 1.59 and a beta of 1.01. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.05 and a current ratio of 1.05. The company has a 50-day simple moving average of $41.94 and a 200 day simple moving average of $43.49. Canadian Imperial Bank of Commerce has a 52 week low of $39.40 and a 52 week high of $56.68.

Canadian Imperial Bank of Commerce (NYSE:CM – Get Rating) (TSE:CM) last issued its quarterly earnings data on Friday, February 24th. The bank reported $1.44 earnings per share for the quarter, topping 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 business had revenue of $4.40 billion during the quarter. On average, sell-side analysts predict that Canadian Imperial Bank of Commerce will post 5.22 earnings per share for the current year.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the stock. CIBC upgraded shares of Canadian Imperial Bank of Commerce from a “hold” rating to a “buy” rating in a research note on Tuesday, May 9th. StockNews.com lowered shares of Canadian Imperial Bank of Commerce from a “hold” rating to a “sell” rating in a research note on Friday. Canaccord Genuity Group raised shares of Canadian Imperial Bank of Commerce from a “hold” rating to a “buy” rating in a research report on Wednesday, May 10th. Finally, Royal Bank of Canada lifted their price objective on shares of Canadian Imperial Bank of Commerce from $69.00 to $70.00 and gave the company a “sector perform” rating in a research report on Monday, February 27th. Two 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’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $74.14.

Canadian Imperial Bank of Commerce 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.