Bridgewater Associates LP Acquires Shares of 9,784 Canadian Imperial Bank of Commerce (NYSE:CM)

Bridgewater Associates LP acquired a new stake in Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 9,784 shares of the bank’s stock, valued at approximately $601,000.

Several other institutional investors have also modified their holdings of CM. Ridgewood Investments LLC purchased a new position in Canadian Imperial Bank of Commerce in the second quarter valued at $29,000. BNP Paribas Financial Markets acquired a new stake in shares of Canadian Imperial Bank of Commerce in the 3rd quarter valued at approximately $44,000. Blue Trust Inc. boosted its position in shares of Canadian Imperial Bank of Commerce by 571.6% during the 3rd quarter. Blue Trust Inc. now owns 732 shares of the bank’s stock worth $45,000 after purchasing an additional 623 shares in the last quarter. Whittier Trust Co. of Nevada Inc. acquired a new stake in Canadian Imperial Bank of Commerce in the second quarter valued at $51,000. Finally, Massmutual Trust Co. FSB ADV increased its stake in shares of Canadian Imperial Bank of Commerce by 23.1% during the 3rd quarter. Massmutual Trust Co. FSB ADV now owns 911 shares of the bank’s stock worth $56,000 after purchasing an additional 171 shares in the last quarter. Institutional investors and hedge funds own 49.88% of the company’s stock.

Wall Street Analysts Forecast Growth

CM has been the topic of several research analyst reports. Bank of America raised shares of Canadian Imperial Bank of Commerce from a “neutral” rating to a “buy” rating in a research report on Friday, August 30th. Cormark upgraded Canadian Imperial Bank of Commerce from a “hold” rating to a “moderate buy” rating in a research note on Friday, August 30th. BMO Capital Markets raised their price objective on shares of Canadian Imperial Bank of Commerce from $77.00 to $81.00 and gave the stock an “outperform” rating in a report on Friday, August 30th. Finally, StockNews.com lowered Canadian Imperial Bank of Commerce from a “hold” rating to a “sell” rating in a research report on Saturday, October 19th. Two analysts have rated the stock with a sell rating, one has given a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $81.00.

Canadian Imperial Bank of Commerce Stock Down 1.1 %

NYSE CM opened at $64.07 on Tuesday. 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’s 50 day moving average is $62.78 and its two-hundred day moving average is $55.60. Canadian Imperial Bank of Commerce has a 1-year low of $41.44 and a 1-year high of $65.89. The company has a market capitalization of $60.52 billion, a price-to-earnings ratio of 12.59, a PEG ratio of 1.70 and a beta of 1.06.

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.