Canadian Imperial Bank of Commerce (NYSE:CM) Lowered to “Sell” Rating by StockNews.com

Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) was downgraded by 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 boosted their target price for the stock from $97.00 to $103.00 in a research report on Wednesday, January 8th. One research 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’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $92.00.

Canadian Imperial Bank of Commerce Stock Down 3.6 %

CM opened at $56.79 on Friday. Canadian Imperial Bank of Commerce has a 52 week low of $46.50 and a 52 week high of $67.45. The business has a 50 day moving average price of $59.43 and a two-hundred day moving average price of $61.91. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 0.14. The company has a market cap of $53.39 billion, a PE ratio of 10.62, a P/E/G ratio of 1.62 and a beta of 0.98.

Institutional Trading of Canadian Imperial Bank of Commerce

Several large investors have recently bought and sold shares of CM. Crews Bank & Trust acquired a new position in shares of Canadian Imperial Bank of Commerce during the 4th quarter worth approximately $25,000. Operose Advisors LLC purchased a new stake in shares of Canadian Imperial Bank of Commerce in the fourth quarter valued at $26,000. SBI Securities Co. Ltd. acquired a new stake in shares of Canadian Imperial Bank of Commerce during the fourth quarter valued at $30,000. Sandy Spring Bank purchased a new stake in Canadian Imperial Bank of Commerce during the 4th quarter worth about $32,000. Finally, IFP Advisors Inc raised its stake in Canadian Imperial Bank of Commerce by 318.1% in the 4th quarter. IFP Advisors Inc now owns 531 shares of the bank’s stock valued at $34,000 after purchasing an additional 404 shares during 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.