Canadian Imperial Bank of Commerce (NYSE:CM) Downgraded to Sell at StockNews.com

Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) was downgraded by equities research analysts at StockNews.com from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Saturday.

CM has been the topic of a number of other reports. UBS Group initiated coverage on Canadian Imperial Bank of Commerce in a research report on Tuesday, July 2nd. They set a “neutral” rating on the stock. Bank of America raised Canadian Imperial Bank of Commerce from a “neutral” rating to a “buy” rating in a research report on Friday, August 30th. BMO Capital Markets boosted their target price on Canadian Imperial Bank of Commerce from $77.00 to $81.00 and gave the stock an “outperform” rating in a research report on Friday, August 30th. Cormark raised Canadian Imperial Bank of Commerce from a “hold” rating to a “moderate buy” rating in a research report on Friday, August 30th. Finally, Desjardins raised Canadian Imperial Bank of Commerce from a “hold” rating to a “moderate buy” rating in a research report on Friday, August 2nd. Two research analysts have rated the stock with a sell rating, one has issued a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, Canadian Imperial Bank of Commerce has an average rating of “Hold” and an average target price of $81.00.

Canadian Imperial Bank of Commerce Trading Up 0.0 %

Shares of CM stock opened at $62.65 on Friday. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.05 and a current ratio of 1.05. Canadian Imperial Bank of Commerce has a 1 year low of $34.35 and a 1 year high of $63.02. The stock has a fifty day moving average of $58.68 and a two-hundred day moving average of $52.26. The firm has a market capitalization of $59.08 billion, a PE ratio of 12.89, a price-to-earnings-growth ratio of 1.82 and a beta of 1.07.

Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) last posted its quarterly earnings data on Thursday, August 29th. The bank reported $1.93 EPS for the quarter, topping analysts’ consensus estimates of $1.74 by $0.19. Canadian Imperial Bank of Commerce had a return on equity of 13.50% and a net margin of 10.66%. The company had revenue of $6.60 billion for the quarter, compared to the consensus estimate of $6.28 billion. During the same quarter in the previous year, the business earned $1.14 EPS. The company’s quarterly revenue was up 12.9% compared to the same quarter last year. As a group, research analysts expect that Canadian Imperial Bank of Commerce will post 5.36 EPS for the current year.

Institutional Trading of Canadian Imperial Bank of Commerce

Several large investors have recently made changes to their positions in the stock. Ridgewood Investments LLC acquired a new position in shares of Canadian Imperial Bank of Commerce during the 2nd quarter worth about $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. Whittier Trust Co. of Nevada Inc. acquired a new position in shares of Canadian Imperial Bank of Commerce during the 2nd quarter worth about $51,000. Massmutual Trust Co. FSB ADV lifted its position 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 during the last quarter. Finally, City State Bank acquired a new position in shares of Canadian Imperial Bank of Commerce during the 3rd quarter worth about $61,000. 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.