Canadian Imperial Bank of Commerce (NYSE:CM) Stock Rating Upgraded by Royal Bank of Canada

Canadian Imperial Bank of Commerce (NYSE:CMGet Free Report) (TSE:CM) was upgraded by stock analysts at Royal Bank of Canada from a “sector perform” rating to an “outperform” rating in a research report issued on Wednesday, Marketbeat Ratings reports. The firm presently has a $103.00 target price on the bank’s stock, up from their previous target price of $97.00. Royal Bank of Canada’s target price points to a potential upside of 62.90% from the stock’s current price.

Separately, StockNews.com downgraded Canadian Imperial Bank of Commerce from a “hold” rating to a “sell” rating in a research report on Monday. Two analysts have rated the stock with a sell rating, one has issued a hold rating and six have given a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $92.00.

Check Out Our Latest Stock Report on CM

Canadian Imperial Bank of Commerce Trading Up 1.2 %

CM opened at $63.23 on Wednesday. The stock’s 50 day moving average price is $64.40 and its 200-day moving average price is $58.70. Canadian Imperial Bank of Commerce has a one year low of $43.86 and a one year high of $67.45. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.05 and a current ratio of 1.05. The stock has a market cap of $59.59 billion, a price-to-earnings ratio of 11.82, a P/E/G ratio of 1.78 and a beta of 1.06.

Institutional Investors Weigh In On Canadian Imperial Bank of Commerce

Large investors have recently modified their holdings of the business. Toronto Dominion Bank boosted its stake in shares of Canadian Imperial Bank of Commerce by 17.9% during the second quarter. Toronto Dominion Bank now owns 25,941,777 shares of the bank’s stock valued at $1,233,272,000 after purchasing an additional 3,942,894 shares in the last quarter. Public Sector Pension Investment Board increased its holdings in shares of Canadian Imperial Bank of Commerce by 32.0% in the 3rd quarter. Public Sector Pension Investment Board now owns 3,713,539 shares of the bank’s stock valued at $228,043,000 after acquiring an additional 900,575 shares during the period. Legal & General Group Plc raised its position in shares of Canadian Imperial Bank of Commerce by 3.3% in the 2nd quarter. Legal & General Group Plc now owns 7,213,860 shares of the bank’s stock worth $342,946,000 after acquiring an additional 228,130 shares in the last quarter. Ritholtz Wealth Management lifted its stake in shares of Canadian Imperial Bank of Commerce by 140.6% during the 3rd quarter. Ritholtz Wealth Management now owns 14,308 shares of the bank’s stock worth $878,000 after purchasing an additional 8,362 shares during the last quarter. Finally, CIBC Asset Management Inc boosted its position in Canadian Imperial Bank of Commerce by 3.4% during the third quarter. CIBC Asset Management Inc now owns 11,352,605 shares of the bank’s stock valued at $696,659,000 after purchasing an additional 375,837 shares in the last quarter. Institutional investors own 49.88% of the company’s stock.

Canadian Imperial Bank of Commerce Company Profile

(Get Free Report)

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.

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

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