Canadian Imperial Bank of Commerce (CM) Rating Lowered to Sell at ValuEngine

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Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) was downgraded by stock analysts at ValuEngine from a “hold” rating to a “sell” rating in a research report issued on Thursday.

Several other equities analysts have also recently commented on the stock. Zacks Investment Research raised shares of Canadian Imperial Bank of Commerce from a “hold” rating to a “buy” rating and set a $99.00 target price on the stock in a research note on Tuesday. TheStreet cut shares of Canadian Imperial Bank of Commerce from a “b-” rating to a “c+” rating in a research note on Wednesday, October 10th. Two research analysts have rated the stock with a sell rating, three have given a hold rating and six have assigned a buy rating to the company’s stock. Canadian Imperial Bank of Commerce presently has an average rating of “Hold” and a consensus price target of $118.38.

Canadian Imperial Bank of Commerce stock traded down $1.05 during trading hours on Thursday, hitting $88.49. 387,000 shares of the company traded hands, compared to its average volume of 373,968. The stock has a market cap of $41.60 billion, a price-to-earnings ratio of 9.95, a PEG ratio of 1.81 and a beta of 1.20. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 0.12. Canadian Imperial Bank of Commerce has a 1-year low of $85.47 and a 1-year high of $100.01.

Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) last released its earnings results on Thursday, August 23rd. The bank reported $3.08 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $2.22 by $0.86. The firm had revenue of $3.52 billion for the quarter, compared to analysts’ expectations of $3.39 billion. Canadian Imperial Bank of Commerce had a net margin of 21.27% and a return on equity of 17.77%. During the same quarter last year, the company earned $2.77 EPS. Research analysts expect that Canadian Imperial Bank of Commerce will post 9.35 earnings per share for the current fiscal year.

Large investors have recently bought and sold shares of the company. Summit Trail Advisors LLC boosted its position in shares of Canadian Imperial Bank of Commerce by 4,274.8% during the 1st quarter. Summit Trail Advisors LLC now owns 111,120 shares of the bank’s stock valued at $111,000 after purchasing an additional 108,580 shares in the last quarter. Mawer Investment Management Ltd. bought a new position in shares of Canadian Imperial Bank of Commerce during the 2nd quarter valued at about $205,000. Iberiabank Corp bought a new position in shares of Canadian Imperial Bank of Commerce during the 3rd quarter valued at about $217,000. Laurion Capital Management LP bought a new position in shares of Canadian Imperial Bank of Commerce during the 2nd quarter valued at about $233,000. Finally, Flagship Harbor Advisors LLC bought a new position in shares of Canadian Imperial Bank of Commerce during the 2nd quarter valued at about $265,000. Institutional investors own 46.00% of the company’s stock.

About Canadian Imperial Bank of Commerce

Canadian Imperial Bank of Commerce, a diversified financial institution, provides various financial products and services to individual, small business, commercial, corporate, and institutional clients in Canada, the United States, and internationally. The company operates through four strategic business units: Canadian Personal and Small Business Banking; Canadian Commercial Banking and Wealth Management; U.S.

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Analyst Recommendations for Canadian Imperial Bank of Commerce (NYSE:CM)

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