Canadian Imperial Bank of Commerce (NYSE:CM – Get Free Report) (TSE:CM) was downgraded by analysts at StockNews.com from a “hold” rating to a “sell” rating in a research report issued on Thursday.
A number of other research firms also recently issued reports on CM. BMO Capital Markets boosted their price target on Canadian Imperial Bank of Commerce from $74.00 to $77.00 and gave the company an “outperform” rating in a research report on Friday, May 31st. Barclays began coverage on Canadian Imperial Bank of Commerce in a research note on Wednesday, March 20th. They set an “underweight” rating on the stock. Keefe, Bruyette & Woods upgraded Canadian Imperial Bank of Commerce from a “market perform” rating to an “outperform” rating in a research note on Monday, June 3rd. Finally, Jefferies Financial Group started coverage on Canadian Imperial Bank of Commerce in a research note on Thursday, February 22nd. They set a “buy” rating on the stock. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat, Canadian Imperial Bank of Commerce currently has a consensus rating of “Hold” and an average target price of $67.00.
Check Out Our Latest Stock Report on CM
Canadian Imperial Bank of Commerce Stock Performance
Hedge Funds Weigh In On Canadian Imperial Bank of Commerce
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Bruce G. Allen Investments LLC bought a new position in Canadian Imperial Bank of Commerce during the 4th quarter valued at $33,000. Glassman Wealth Services increased its stake in shares of Canadian Imperial Bank of Commerce by 57.5% in the fourth quarter. Glassman Wealth Services now owns 693 shares of the bank’s stock worth $33,000 after purchasing an additional 253 shares during the period. Janiczek Wealth Management LLC increased its stake in shares of Canadian Imperial Bank of Commerce by 34.9% in the fourth quarter. Janiczek Wealth Management LLC now owns 859 shares of the bank’s stock worth $41,000 after purchasing an additional 222 shares during the period. EverSource Wealth Advisors LLC increased its stake in Canadian Imperial Bank of Commerce by 574.7% during the fourth quarter. EverSource Wealth Advisors LLC now owns 1,066 shares of the bank’s stock valued at $51,000 after acquiring an additional 908 shares during the period. Finally, Principal Securities Inc. bought a new position in Canadian Imperial Bank of Commerce during the fourth quarter valued at about $64,000. 49.88% of the stock is owned by institutional investors.
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.
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