Canadian Imperial Bank of Commerce (NYSE:CM) Stock Holdings Increased by Cerity Partners LLC

Cerity Partners LLC increased its holdings in Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) by 54.0% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 24,585 shares of the bank’s stock after purchasing an additional 8,620 shares during the quarter. Cerity Partners LLC’s holdings in Canadian Imperial Bank of Commerce were worth $1,508,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in the company. Massmutual Trust Co. FSB ADV grew its position in 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. PDS Planning Inc grew its holdings in shares of Canadian Imperial Bank of Commerce by 4.7% during the third quarter. PDS Planning Inc now owns 4,978 shares of the bank’s stock valued at $305,000 after buying an additional 224 shares in the last quarter. Simplicity Wealth LLC raised its position in Canadian Imperial Bank of Commerce by 3.9% during the second quarter. Simplicity Wealth LLC now owns 6,448 shares of the bank’s stock valued at $307,000 after buying an additional 240 shares during the period. Prospera Private Wealth LLC lifted its stake in Canadian Imperial Bank of Commerce by 3.2% in the 3rd quarter. Prospera Private Wealth LLC now owns 10,486 shares of the bank’s stock worth $643,000 after acquiring an additional 330 shares in the last quarter. Finally, First Bank & Trust boosted its position in Canadian Imperial Bank of Commerce by 0.8% during the 3rd quarter. First Bank & Trust now owns 41,646 shares of the bank’s stock worth $2,555,000 after acquiring an additional 351 shares during the period. Institutional investors and hedge funds own 49.88% of the company’s stock.

Canadian Imperial Bank of Commerce Stock Down 0.9 %

CM opened at $63.47 on Wednesday. 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 debt-to-equity ratio of 0.14, a quick ratio of 1.05 and a current ratio of 1.05. The business has a 50 day moving average price of $62.87 and a 200 day moving average price of $55.81. The firm has a market cap of $59.95 billion, a P/E ratio of 12.47, a price-to-earnings-growth ratio of 1.69 and a beta of 1.06.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on CM shares. 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. BMO Capital Markets increased their price objective on 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. Cormark upgraded Canadian Imperial Bank of Commerce from a “hold” rating to a “moderate buy” rating in a research note on Friday, August 30th. Finally, StockNews.com lowered Canadian Imperial Bank of Commerce from a “hold” rating to a “sell” rating in a report on Saturday, October 19th. 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 company’s stock. According to data from MarketBeat.com, Canadian Imperial Bank of Commerce has an average rating of “Hold” and an average target price 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.