Canadian Imperial Bank of Commerce (NYSE:CM) Stock Rating Lowered by 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 report issued on Saturday.

Several other research analysts have also recently commented on CM. Keefe, Bruyette & Woods raised Canadian Imperial Bank of Commerce from a “market perform” rating to an “outperform” rating in a research report on Monday, June 3rd. UBS Group initiated coverage on Canadian Imperial Bank of Commerce in a report on Tuesday, July 2nd. They issued a “neutral” rating for the company. Finally, BMO Capital Markets upped their price target on shares of Canadian Imperial Bank of Commerce from $74.00 to $77.00 and gave the stock an “outperform” rating in a research report on Friday, May 31st. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and five have given a buy rating to the company. According to MarketBeat, the company has an average rating of “Hold” and a consensus price target of $67.00.

Canadian Imperial Bank of Commerce Stock Performance

Shares of CM stock opened at $49.99 on Friday. The firm has a market cap of $47.14 billion, a PE ratio of 10.29, a P/E/G ratio of 1.97 and a beta of 1.06. Canadian Imperial Bank of Commerce has a 12 month low of $34.35 and a 12 month high of $51.14. The company’s fifty day simple moving average is $48.70 and its 200-day simple moving average is $47.99. The company has a quick ratio of 1.06, a current ratio of 1.06 and a debt-to-equity ratio of 0.15.

Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) last issued its quarterly earnings results on Thursday, May 30th. The bank reported $1.29 EPS for the quarter, topping the consensus estimate of $1.22 by $0.07. Canadian Imperial Bank of Commerce had a net margin of 10.46% and a return on equity of 13.06%. The firm had revenue of $4.54 billion for the quarter, compared to analysts’ expectations of $4.48 billion. Equities research analysts expect that Canadian Imperial Bank of Commerce will post 5.05 EPS for the current fiscal year.

Institutional Investors Weigh In On Canadian Imperial Bank of Commerce

Hedge funds have recently bought and sold shares of the stock. Glassman Wealth Services grew its holdings in shares of Canadian Imperial Bank of Commerce by 57.5% during the 4th quarter. Glassman Wealth Services now owns 693 shares of the bank’s stock valued at $33,000 after purchasing an additional 253 shares during the last quarter. Janiczek Wealth Management LLC boosted its stake in Canadian Imperial Bank of Commerce by 34.9% during the fourth quarter. Janiczek Wealth Management LLC now owns 859 shares of the bank’s stock worth $41,000 after acquiring an additional 222 shares in the last quarter. EverSource Wealth Advisors LLC boosted its position in shares of Canadian Imperial Bank of Commerce by 574.7% during the 4th quarter. EverSource Wealth Advisors LLC now owns 1,066 shares of the bank’s stock worth $51,000 after purchasing an additional 908 shares in the last quarter. Principal Securities Inc. acquired a new stake in Canadian Imperial Bank of Commerce in the fourth quarter valued at approximately $64,000. Finally, Hexagon Capital Partners LLC increased its stake in Canadian Imperial Bank of Commerce by 152.9% during the 4th quarter. Hexagon Capital Partners LLC now owns 1,692 shares of the bank’s stock valued at $81,000 after purchasing an additional 1,023 shares in the last quarter. 49.88% of the stock is currently owned by institutional investors and hedge funds.

Canadian Imperial Bank of Commerce Company Profile

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.