Canadian Imperial Bank of Commerce (NYSE:CM) Shares Purchased by Fmr LLC

Fmr LLC raised its stake in Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) by 3.3% during the third quarter, Holdings Channel.com reports. The firm owned 2,106,913 shares of the bank’s stock after purchasing an additional 67,480 shares during the quarter. Fmr LLC’s holdings in Canadian Imperial Bank of Commerce were worth $129,239,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Ridgewood Investments LLC purchased a new position in Canadian Imperial Bank of Commerce in the second quarter worth approximately $29,000. Blue Trust Inc. lifted 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 during the last quarter. Massmutual Trust Co. FSB ADV grew its stake in shares of Canadian Imperial Bank of Commerce by 23.1% during the third 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. City State Bank purchased a new position in Canadian Imperial Bank of Commerce in the third quarter valued at $61,000. Finally, Whittier Trust Co. of Nevada Inc. acquired a new stake in Canadian Imperial Bank of Commerce in the second quarter valued at $51,000. Hedge funds and other institutional investors own 49.88% of the company’s stock.

Canadian Imperial Bank of Commerce Price Performance

CM stock opened at $63.47 on Wednesday. The business has a 50 day simple moving average of $62.87 and a 200-day simple moving average of $55.81. The company has a market capitalization of $59.95 billion, a P/E ratio of 12.47, a PEG ratio of 1.69 and a beta of 1.06. Canadian Imperial Bank of Commerce has a twelve month low of $41.44 and a twelve month high of $65.89. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 0.14.

Analysts Set New Price Targets

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

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.