Canadian Imperial Bank of Commerce (CM) Stock Rating Upgraded by BidaskClub

Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) was upgraded by BidaskClub from a “hold” rating to a “buy” rating in a research report issued on Thursday, July 13th.

Several other equities analysts have also recently commented on CM. Credit Suisse Group upgraded shares of Canadian Imperial Bank of Commerce from an “underperform” rating to a “neutral” rating in a research report on Friday, March 31st. Zacks Investment Research cut shares of Canadian Imperial Bank of Commerce from a “buy” rating to a “hold” rating in a research report on Tuesday, April 25th. Finally, National Bank Financial reiterated an “outperform overweight” rating on shares of Canadian Imperial Bank of Commerce in a research report on Thursday, May 18th. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating and four have given a buy rating to the stock. Canadian Imperial Bank of Commerce presently has an average rating of “Hold” and a consensus target price of $100.63.

Canadian Imperial Bank of Commerce (NYSE:CM) opened at 86.24 on Thursday. Canadian Imperial Bank of Commerce has a 12 month low of $72.62 and a 12 month high of $92.22. The stock’s 50 day moving average price is $83.53 and its 200 day moving average price is $84.00. The firm has a market capitalization of $34.63 billion, a P/E ratio of 9.05 and a beta of 1.09.

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Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. CIBC Asset Management Inc raised its position in Canadian Imperial Bank of Commerce by 13.3% in the second quarter. CIBC Asset Management Inc now owns 7,730,504 shares of the bank’s stock worth $627,527,000 after buying an additional 907,963 shares during the period. Skandinaviska Enskilda Banken AB publ acquired a new position in Canadian Imperial Bank of Commerce during the first quarter worth $82,838,000. Acadian Asset Management LLC raised its position in Canadian Imperial Bank of Commerce by 14.3% in the first quarter. Acadian Asset Management LLC now owns 5,684,299 shares of the bank’s stock worth $488,755,000 after buying an additional 709,927 shares during the period. TD Asset Management Inc. increased its stake in shares of Canadian Imperial Bank of Commerce by 3.1% in the second quarter. TD Asset Management Inc. now owns 20,328,408 shares of the bank’s stock valued at $1,649,658,000 after buying an additional 620,661 shares in the last quarter. Finally, Canada Pension Plan Investment Board increased its stake in shares of Canadian Imperial Bank of Commerce by 1,191.4% in the second quarter. Canada Pension Plan Investment Board now owns 663,762 shares of the bank’s stock valued at $53,865,000 after buying an additional 612,362 shares in the last quarter. 48.19% of the stock is currently owned by hedge funds and other institutional investors.

Canadian Imperial Bank of Commerce Company Profile

Canadian Imperial Bank of Commerce (CIBC) is a global financial institution. The Company provides a range of financial products and services to approximately 11 million individual, small business, commercial, corporate and institutional clients in Canada and around the world. The Company operates through three segments: Retail and Business Banking, Wealth Management and Capital Markets.

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

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