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

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

Several other research analysts have also issued reports on the company. Jefferies Financial Group lowered Canadian Imperial Bank of Commerce from a “buy” rating to a “hold” rating in a research report on Monday, April 21st. Royal Bank of Canada upgraded Canadian Imperial Bank of Commerce from a “sector perform” rating to an “outperform” rating and raised their price target for the stock from $97.00 to $103.00 in a research report on Wednesday, January 8th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $92.00.

Canadian Imperial Bank of Commerce Stock Up 0.2 %

NYSE CM opened at $63.10 on Wednesday. Canadian Imperial Bank of Commerce has a 52 week low of $46.83 and a 52 week 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 capitalization of $59.32 billion, a P/E ratio of 11.79, a price-to-earnings-growth ratio of 1.62 and a beta of 0.98. The stock has a fifty day moving average of $58.04 and a 200-day moving average of $61.60.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the company. State Street Corp acquired a new position in Canadian Imperial Bank of Commerce during the 3rd quarter worth approximately $227,000. Franklin Resources Inc. boosted its position in Canadian Imperial Bank of Commerce by 4.4% during the 3rd quarter. Franklin Resources Inc. now owns 880,838 shares of the bank’s stock worth $54,606,000 after acquiring an additional 37,419 shares during the last quarter. JPMorgan Chase & Co. boosted its position in Canadian Imperial Bank of Commerce by 6.1% during the 3rd quarter. JPMorgan Chase & Co. now owns 5,857,844 shares of the bank’s stock worth $359,320,000 after acquiring an additional 334,545 shares during the last quarter. Versant Capital Management Inc boosted its position in Canadian Imperial Bank of Commerce by 1,069.4% during the 4th quarter. Versant Capital Management Inc now owns 725 shares of the bank’s stock worth $46,000 after acquiring an additional 663 shares during the last quarter. Finally, Wealth Enhancement Advisory Services LLC boosted its position in Canadian Imperial Bank of Commerce by 4.9% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 4,161 shares of the bank’s stock worth $255,000 after acquiring an additional 194 shares during the last quarter. 49.88% of the stock is currently owned by institutional investors.

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.