Canadian Imperial Bank of Commerce (NYSE:CM) Stock Rating Upgraded by StockNews.com

Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) was upgraded by StockNews.com from a “sell” rating to a “hold” rating in a report released on Monday.

Separately, Royal Bank of Canada raised shares of Canadian Imperial Bank of Commerce from a “sector perform” rating to an “outperform” rating and upped their price target for the company from $97.00 to $103.00 in a report on Wednesday, January 8th. Two research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $92.00.

Canadian Imperial Bank of Commerce Trading Up 0.3 %

Shares of CM opened at $58.35 on Monday. Canadian Imperial Bank of Commerce has a one year low of $46.50 and a one year high of $67.45. The stock has a 50-day moving average price of $58.31 and a 200 day moving average price of $61.59. 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 company has a market capitalization of $54.86 billion, a P/E ratio of 10.91, a P/E/G ratio of 1.62 and a beta of 0.98.

Hedge Funds Weigh In On Canadian Imperial Bank of Commerce

Several hedge funds have recently made changes to their positions in CM. PDS Planning Inc increased its holdings in shares of Canadian Imperial Bank of Commerce by 3.8% in the fourth quarter. PDS Planning Inc now owns 5,167 shares of the bank’s stock valued at $327,000 after buying an additional 189 shares in the last quarter. Gradient Investments LLC raised its position in shares of Canadian Imperial Bank of Commerce by 2.4% during the first quarter. Gradient Investments LLC now owns 8,278 shares of the bank’s stock worth $466,000 after purchasing an additional 191 shares during the period. Wealth Enhancement Advisory Services LLC lifted its holdings in shares of Canadian Imperial Bank of Commerce by 4.9% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 4,161 shares of the bank’s stock valued at $255,000 after purchasing an additional 194 shares during the last quarter. Mesirow Financial Investment Management Inc. boosted its position in shares of Canadian Imperial Bank of Commerce by 0.7% in the 4th quarter. Mesirow Financial Investment Management Inc. now owns 33,094 shares of the bank’s stock valued at $2,092,000 after purchasing an additional 222 shares during the period. Finally, MML Investors Services LLC increased its stake in Canadian Imperial Bank of Commerce by 0.5% in the 3rd quarter. MML Investors Services LLC now owns 44,008 shares of the bank’s stock worth $2,699,000 after purchasing an additional 237 shares in the last quarter. Institutional investors and hedge funds own 49.88% of the company’s stock.

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.