Canadian Imperial Bank of Commerce (CM) Stock Rating Lowered by Zacks Investment Research

Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report released on Thursday.

According to Zacks, “CIBC is a leading North American financial institution that offers a full range of products and services through its comprehensive electronic banking network, branches and offices across Canada, in the United States and around the world. It offers these services through two distinct business lines: CIBC Retail Markets and CIBC World Markets. The former comprises CIBC’s personal, business banking and wealth businesses. It provides a full range of financial products and services to personal, business and wealth management clients, as well as investment management services globally to retail and institutional clients. CIBC is headquartered in Toronto, Canada. “

Separately, ValuEngine downgraded shares of Canadian Imperial Bank of Commerce from a “buy” rating to a “hold” rating in a research note on Monday, April 2nd. One analyst has rated the stock with a sell rating, five have given a hold rating and four have issued a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average target price of $114.86.

Shares of Canadian Imperial Bank of Commerce traded down $0.09, hitting $91.11, on Thursday, Marketbeat Ratings reports. 146,371 shares of the company traded hands, compared to its average volume of 379,338. The company has a market capitalization of $40.26 billion, a PE ratio of 10.25, a P/E/G ratio of 1.67 and a beta of 1.15. Canadian Imperial Bank of Commerce has a 52 week low of $90.67 and a 52 week high of $91.04. The company has a debt-to-equity ratio of 0.10, a quick ratio of 1.04 and a current ratio of 1.04.

Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) last issued its quarterly earnings data on Thursday, February 22nd. The bank reported $2.50 EPS for the quarter, topping analysts’ consensus estimates of $2.26 by $0.24. The company had revenue of $3.51 billion during the quarter, compared to the consensus estimate of $3.32 billion. Canadian Imperial Bank of Commerce had a net margin of 21.38% and a return on equity of 17.57%. analysts forecast that Canadian Imperial Bank of Commerce will post 9.31 earnings per share for the current year.

Large investors have recently modified their holdings of the stock. BB&T Corp raised its stake in Canadian Imperial Bank of Commerce by 119.8% in the fourth quarter. BB&T Corp now owns 19,159 shares of the bank’s stock worth $1,867,000 after buying an additional 10,443 shares in the last quarter. Lourd Capital LLC acquired a new position in shares of Canadian Imperial Bank of Commerce during the fourth quarter worth $442,000. Broderick Brian C acquired a new position in shares of Canadian Imperial Bank of Commerce during the fourth quarter worth $209,000. Acadian Asset Management LLC increased its position in shares of Canadian Imperial Bank of Commerce by 1.5% during the fourth quarter. Acadian Asset Management LLC now owns 6,689,003 shares of the bank’s stock worth $654,197,000 after purchasing an additional 98,900 shares in the last quarter. Finally, Stephens Inc. AR increased its position in shares of Canadian Imperial Bank of Commerce by 62.4% during the fourth quarter. Stephens Inc. AR now owns 65,855 shares of the bank’s stock worth $6,415,000 after purchasing an additional 25,316 shares in the last quarter. 46.21% 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 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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