Canadian Imperial Bank of Commerce (NYSE:CM) Upgraded to Overweight by Barclays

Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) was upgraded by equities researchers at Barclays from an “underweight” rating to an “overweight” rating in a note issued to investors on Tuesday, December 19th, MarketBeat.com reports.

Other analysts have also issued reports about the stock. TD Securities upgraded shares of Canadian Imperial Bank of Commerce from a “hold” rating to a “buy” rating and set a $120.00 price target on the stock in a research report on Wednesday, September 6th. Canaccord Genuity set a $117.00 target price on shares of Canadian Imperial Bank of Commerce and gave the company a “buy” rating in a research report on Thursday, August 24th. Credit Suisse Group upgraded shares of Canadian Imperial Bank of Commerce from a “neutral” rating to an “outperform” rating and lifted their target price for the company from $116.00 to $125.00 in a research report on Friday, December 1st. Scotiabank reiterated a “hold” rating and set a $128.00 target price on shares of Canadian Imperial Bank of Commerce in a research report on Wednesday, November 22nd. Finally, Zacks Investment Research lowered shares of Canadian Imperial Bank of Commerce from a “hold” rating to a “sell” rating in a research report on Wednesday, November 8th. One analyst has rated the stock with a sell rating, four have issued a hold rating and four have issued a buy rating to the stock. Canadian Imperial Bank of Commerce currently has an average rating of “Hold” and an average target price of $114.00.

Shares of Canadian Imperial Bank of Commerce (NYSE CM) traded up $0.41 on Tuesday, reaching $98.62. 347,785 shares of the company traded hands, compared to its average volume of 449,318. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 0.11. The company has a market cap of $43,570.00, a P/E ratio of 10.96, a PEG ratio of 4.85 and a beta of 1.12. Canadian Imperial Bank of Commerce has a 12-month low of $77.20 and a 12-month high of $100.01.

Large investors have recently added to or reduced their stakes in the business. Northwestern Mutual Wealth Management Co. boosted its position in Canadian Imperial Bank of Commerce by 55.5% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 1,474 shares of the bank’s stock valued at $120,000 after buying an additional 526 shares in the last quarter. INR Advisory Services LLC bought a new position in shares of Canadian Imperial Bank of Commerce in the second quarter worth about $125,000. Quantum Capital Management LLC NJ bought a new position in shares of Canadian Imperial Bank of Commerce in the third quarter worth about $134,000. Nationwide Fund Advisors bought a new position in shares of Canadian Imperial Bank of Commerce in the second quarter worth about $138,000. Finally, D.A. Davidson & CO. bought a new position in shares of Canadian Imperial Bank of Commerce in the second quarter worth about $162,000. Hedge funds and other institutional investors own 44.37% of the company’s stock.

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About Canadian Imperial Bank of Commerce

Canadian Imperial Bank of Commerce (CIBC) is a global financial institution. The Company provides a range of financial products and services to approximately 11 million individual, small business, commercial, corporate and institutional clients in Canada and around the world. The Company operates through three segments: Retail and Business Banking, Wealth Management and Capital Markets.

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

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