Canadian Imperial Bank of Commerce (NYSE:CM) Stock Price Down 4.2% – Should You Sell?

Shares of Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) fell 4.2% on Thursday . The company traded as low as $112.64 and last traded at $113.2330. Approximately 388,704 shares traded hands during trading, a decline of 70% from the average daily volume of 1,285,126 shares. The stock had previously closed at $118.20.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the stock. Royal Bank Of Canada increased their price objective on shares of Canadian Imperial Bank of Commerce from $147.00 to $167.00 and gave the stock an “outperform” rating in a research report on Monday, June 1st. TD Securities restated a “buy” rating on shares of Canadian Imperial Bank of Commerce in a report on Wednesday, August 12th. Raymond James Financial reaffirmed a “market perform” rating on shares of Canadian Imperial Bank of Commerce in a research report on Tuesday, May 12th. Barclays reiterated an “overweight” rating on shares of Canadian Imperial Bank of Commerce in a report on Friday, August 21st. Finally, Jefferies Financial Group reissued a “hold” rating on shares of Canadian Imperial Bank of Commerce in a research report on Thursday, May 28th. Five investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $167.00.

Canadian Imperial Bank of Commerce Price Performance

The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 0.11. The stock has a market cap of $104.06 billion, a PE ratio of 15.65, a P/E/G ratio of 1.23 and a beta of 1.01. The company’s 50 day moving average is $117.34 and its 200-day moving average is $108.84.

Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) last posted its quarterly earnings data on Thursday, August 27th. The bank reported $1.96 earnings per share for the quarter, beating analysts’ consensus estimates of $1.80 by $0.16. Canadian Imperial Bank of Commerce had a net margin of 15.84% and a return on equity of 16.31%. As a group, sell-side analysts predict that Canadian Imperial Bank of Commerce will post 7.41 earnings per share for the current year.

Institutional Investors Weigh In On Canadian Imperial Bank of Commerce

A number of hedge funds have recently bought and sold shares of the business. Sequoia Financial Advisors LLC increased its position in Canadian Imperial Bank of Commerce by 1.2% in the fourth quarter. Sequoia Financial Advisors LLC now owns 9,716 shares of the bank’s stock worth $880,000 after purchasing an additional 114 shares during the period. Parallel Advisors LLC raised its holdings in Canadian Imperial Bank of Commerce by 3.5% during the 3rd quarter. Parallel Advisors LLC now owns 3,404 shares of the bank’s stock worth $272,000 after purchasing an additional 116 shares during the last quarter. Sivia Capital Partners LLC lifted its position in Canadian Imperial Bank of Commerce by 3.1% during the 4th quarter. Sivia Capital Partners LLC now owns 3,832 shares of the bank’s stock valued at $347,000 after purchasing an additional 116 shares during the period. McIlrath & Eck LLC lifted its position in Canadian Imperial Bank of Commerce by 7.1% during the 4th quarter. McIlrath & Eck LLC now owns 1,936 shares of the bank’s stock valued at $175,000 after purchasing an additional 128 shares during the period. Finally, Greenspring Advisors LLC boosted its stake in shares of Canadian Imperial Bank of Commerce by 5.6% in the 2nd quarter. Greenspring Advisors LLC now owns 2,445 shares of the bank’s stock valued at $281,000 after purchasing an additional 129 shares during the last quarter. Institutional investors and hedge funds own 49.88% of the company’s stock.

Canadian Imperial Bank of Commerce Company Profile

Canadian Imperial Bank of Commerce (NYSE: CM), commonly known as CIBC, is a major Canadian financial institution headquartered in Toronto. Formed in 1961 through the merger of the Canadian Bank of Commerce and the Imperial Bank of Canada, CIBC is one of Canada’s largest banks and provides a broad range of banking and financial services to retail, small business, commercial and institutional clients.

CIBC’s activities span personal and business banking, wealth management, capital markets and corporate banking.