Canadian Imperial Bank of Commerce (NYSE:CM) Raised to Hold at Wall Street Zen

Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) was upgraded by equities research analysts at Wall Street Zen from a “sell” rating to a “hold” rating in a research note issued to investors on Saturday.

Several other brokerages have also issued reports on CM. Weiss Ratings reiterated a “buy (b)” rating on shares of Canadian Imperial Bank of Commerce in a research report on Wednesday, October 8th. Royal Bank Of Canada upped their price target on shares of Canadian Imperial Bank of Commerce from $112.00 to $113.00 and gave the company an “outperform” rating in a report on Friday, August 29th. Four analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $107.50.

Canadian Imperial Bank of Commerce Price Performance

Shares of CM stock opened at $80.28 on Friday. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 0.14. Canadian Imperial Bank of Commerce has a 12-month low of $53.62 and a 12-month high of $82.23. The firm has a fifty day moving average of $78.17 and a 200-day moving average of $70.90. The firm has a market capitalization of $74.63 billion, a price-to-earnings ratio of 13.56, a price-to-earnings-growth ratio of 1.71 and a beta of 1.03.

Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) last issued its quarterly earnings data on Thursday, August 28th. The bank reported $1.57 EPS for the quarter, topping the consensus estimate of $1.43 by $0.14. Canadian Imperial Bank of Commerce had a return on equity of 14.67% and a net margin of 12.94%.The business had revenue of $5.24 billion for the quarter, compared to the consensus estimate of $5.12 billion. During the same quarter last year, the business posted $1.93 EPS. The firm’s revenue was up 3.3% compared to the same quarter last year. On average, equities research analysts forecast that Canadian Imperial Bank of Commerce will post 5.5 earnings per share for the current year.

Institutional Trading of Canadian Imperial Bank of Commerce

A number of institutional investors have recently made changes to their positions in CM. HM Payson & Co. acquired a new stake in Canadian Imperial Bank of Commerce in the 1st quarter valued at $29,000. TruNorth Capital Management LLC boosted its stake in shares of Canadian Imperial Bank of Commerce by 156.0% during the 1st quarter. TruNorth Capital Management LLC now owns 512 shares of the bank’s stock worth $29,000 after buying an additional 312 shares during the last quarter. Salem Investment Counselors Inc. bought a new position in shares of Canadian Imperial Bank of Commerce in the 3rd quarter valued at about $30,000. Truvestments Capital LLC acquired a new stake in shares of Canadian Imperial Bank of Commerce in the first quarter valued at about $32,000. Finally, Toth Financial Advisory Corp bought a new stake in Canadian Imperial Bank of Commerce during the third quarter worth about $32,000. Institutional investors own 49.88% of the company’s stock.

Canadian Imperial Bank of Commerce Company Profile

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.