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 equities research analysts at StockNews.com from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Friday.

Separately, Royal Bank of Canada upgraded Canadian Imperial Bank of Commerce from a “sector perform” rating to an “outperform” rating and raised their price objective for the company from $97.00 to $103.00 in a research report on Wednesday, January 8th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, Canadian Imperial Bank of Commerce has an average rating of “Moderate Buy” and an average price target of $92.00.

Canadian Imperial Bank of Commerce Price Performance

Shares of NYSE:CM traded down $2.15 during midday trading on Friday, reaching $56.79. 2,226,177 shares of the company were exchanged, compared to its average volume of 1,148,144. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 0.14. The stock has a market cap of $53.39 billion, a PE ratio of 10.62, a price-to-earnings-growth ratio of 1.62 and a beta of 1.07. The business’s fifty day moving average is $59.43 and its two-hundred day moving average is $61.91. Canadian Imperial Bank of Commerce has a one year low of $46.50 and a one year high of $67.45.

Institutional Trading of Canadian Imperial Bank of Commerce

A number of large investors have recently made changes to their positions in the business. JPMorgan Chase & Co. grew its position in Canadian Imperial Bank of Commerce by 6.1% in the third 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 in the last quarter. Public Employees Retirement System of Ohio bought a new stake in shares of Canadian Imperial Bank of Commerce in the 3rd quarter valued at approximately $10,045,000. Rhumbline Advisers boosted its holdings in shares of Canadian Imperial Bank of Commerce by 12.6% in the 4th quarter. Rhumbline Advisers now owns 3,622 shares of the bank’s stock worth $229,000 after purchasing an additional 404 shares during the period. American Century Companies Inc. increased its position in shares of Canadian Imperial Bank of Commerce by 8.5% during the 4th quarter. American Century Companies Inc. now owns 299,211 shares of the bank’s stock valued at $18,927,000 after purchasing an additional 23,403 shares during the last quarter. Finally, Benjamin Edwards Inc. purchased a new stake in Canadian Imperial Bank of Commerce during the 3rd quarter valued at $525,000. 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.