Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM)‘s stock had its “buy” rating reissued by equities research analysts at Canaccord Genuity in a note issued to investors on Thursday. They currently have a $121.00 price objective on the bank’s stock. Canaccord Genuity’s price objective would suggest a potential upside of 26.74% from the stock’s current price.

A number of other analysts also recently issued reports on the stock. Citigroup downgraded shares of Canadian Imperial Bank of Commerce from a “buy” rating to a “neutral” rating and set a $120.00 price target on the stock. in a report on Wednesday, October 25th. 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 report on Wednesday, September 6th. Zacks Investment Research downgraded shares of Canadian Imperial Bank of Commerce from a “hold” rating to a “sell” rating in a report on Wednesday, November 8th. Macquarie assumed coverage on shares of Canadian Imperial Bank of Commerce in a report on Tuesday, October 24th. They issued an “underperform” rating and a $89.00 target price on the stock. Finally, Scotiabank restated a “hold” rating and issued a $128.00 target price on shares of Canadian Imperial Bank of Commerce in a report on Wednesday, November 22nd. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and three have given a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus price target of $114.00.

Shares of Canadian Imperial Bank of Commerce (NYSE CM) opened at $95.47 on Thursday. 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 stock has a market cap of $40,312.89, a price-to-earnings ratio of 10.78, a price-to-earnings-growth ratio of 3.70 and a beta of 1.12. Canadian Imperial Bank of Commerce has a fifty-two week low of $77.20 and a fifty-two week high of $95.73.

Institutional investors have recently bought and sold shares of the company. Northwestern Mutual Wealth Management Co. increased its holdings in shares of Canadian Imperial Bank of Commerce by 55.5% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 1,474 shares of the bank’s stock worth $120,000 after buying an additional 526 shares during the last quarter. INR Advisory Services LLC purchased a new position in shares of Canadian Imperial Bank of Commerce during the 2nd quarter worth about $125,000. Quantum Capital Management LLC NJ purchased a new position in shares of Canadian Imperial Bank of Commerce during the 3rd quarter worth about $134,000. Nationwide Fund Advisors purchased a new position in shares of Canadian Imperial Bank of Commerce during the 2nd quarter worth about $138,000. Finally, D.A. Davidson & CO. purchased a new position in shares of Canadian Imperial Bank of Commerce during the 2nd quarter worth about $162,000. Hedge funds and other institutional investors own 44.76% 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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