Canadian Imperial Bank of Commerce (NYSE:CM) Lowered to Sell Rating by StockNews.com

Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) was downgraded by research analysts at StockNews.com from a “hold” rating to a “sell” rating in a note issued to investors on Wednesday.

Several other equities research analysts also recently issued reports on the company. Jefferies Financial Group downgraded Canadian Imperial Bank of Commerce from a “buy” rating to a “hold” rating in a report on Monday, April 21st. Royal Bank of Canada raised Canadian Imperial Bank of Commerce from a “sector perform” rating to an “outperform” rating and raised 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 four have given a buy rating to the company’s stock. According to data from MarketBeat.com, Canadian Imperial Bank of Commerce presently has an average rating of “Hold” and a consensus target price of $92.00.

Canadian Imperial Bank of Commerce Trading Up 0.2 %

NYSE CM opened at $63.10 on Wednesday. The company has a market cap of $59.32 billion, a PE ratio of 11.79, a PEG ratio of 1.62 and a beta of 0.98. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 0.14. Canadian Imperial Bank of Commerce has a 12 month low of $46.83 and a 12 month high of $67.45. The stock has a 50 day moving average of $58.04 and a 200-day moving average of $61.60.

Institutional Investors Weigh In On Canadian Imperial Bank of Commerce

A number of hedge funds and other institutional investors have recently modified their holdings of CM. Crews Bank & Trust bought a new position in shares of Canadian Imperial Bank of Commerce in the fourth quarter worth $25,000. Operose Advisors LLC bought a new position in shares of Canadian Imperial Bank of Commerce in the fourth quarter worth $26,000. HM Payson & Co. bought a new position in shares of Canadian Imperial Bank of Commerce in the first quarter worth $29,000. TruNorth Capital Management LLC increased its position in shares of Canadian Imperial Bank of Commerce by 156.0% in the first quarter. TruNorth Capital Management LLC now owns 512 shares of the bank’s stock worth $29,000 after purchasing an additional 312 shares during the period. Finally, SBI Securities Co. Ltd. bought a new position in shares of Canadian Imperial Bank of Commerce in the fourth quarter worth $30,000. 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.