Canadian Imperial Bank of Commerce (NYSE:CM) Receives $81.00 Average PT from Analysts

Shares of Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) have received a consensus recommendation of “Moderate Buy” from the eight brokerages that are covering the company, MarketBeat reports. One equities research analyst has rated the stock with a sell recommendation, one has issued a hold recommendation and six have assigned a buy recommendation to the company. The average twelve-month price target among brokerages that have issued ratings on the stock in the last year is $81.00.

CM has been the topic of several recent analyst reports. Bank of America raised Canadian Imperial Bank of Commerce from a “neutral” rating to a “buy” rating in a report on Friday, August 30th. BMO Capital Markets upped their target price on shares of Canadian Imperial Bank of Commerce from $77.00 to $81.00 and gave the company an “outperform” rating in a research note on Friday, August 30th. Cormark raised Canadian Imperial Bank of Commerce from a “hold” rating to a “moderate buy” rating in a report on Friday, August 30th. Finally, StockNews.com downgraded Canadian Imperial Bank of Commerce from a “hold” rating to a “sell” rating in a research report on Saturday, October 19th.

Canadian Imperial Bank of Commerce Trading Up 0.3 %

CM opened at $63.64 on Friday. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.05 and a quick ratio of 1.05. The company’s 50-day moving average is $62.90 and its 200 day moving average is $55.86. Canadian Imperial Bank of Commerce has a fifty-two week low of $41.77 and a fifty-two week high of $65.89. The firm has a market capitalization of $60.11 billion, a PE ratio of 12.50, a P/E/G ratio of 1.69 and a beta of 1.06.

Institutional Investors Weigh In On Canadian Imperial Bank of Commerce

A number of large investors have recently added to or reduced their stakes in CM. Toronto Dominion Bank boosted its holdings in Canadian Imperial Bank of Commerce by 17.9% in the second quarter. Toronto Dominion Bank now owns 25,941,777 shares of the bank’s stock valued at $1,233,272,000 after acquiring an additional 3,942,894 shares during the last quarter. Cetera Advisors LLC bought a new stake in Canadian Imperial Bank of Commerce during the 1st quarter worth approximately $1,278,000. Public Sector Pension Investment Board boosted its position in shares of Canadian Imperial Bank of Commerce by 32.0% during the 3rd quarter. Public Sector Pension Investment Board now owns 3,713,539 shares of the bank’s stock valued at $228,043,000 after acquiring an additional 900,575 shares during the last quarter. Legal & General Group Plc raised its stake in shares of Canadian Imperial Bank of Commerce by 3.3% during the second quarter. Legal & General Group Plc now owns 7,213,860 shares of the bank’s stock valued at $342,946,000 after acquiring an additional 228,130 shares during the last quarter. Finally, Ritholtz Wealth Management raised its position in shares of Canadian Imperial Bank of Commerce by 140.6% in the 3rd quarter. Ritholtz Wealth Management now owns 14,308 shares of the bank’s stock worth $878,000 after acquiring an additional 8,362 shares in the last quarter. 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.