Envestnet Asset Management Inc. increased its holdings in shares of Canadian Imperial Bank of Commerce (NYSE:CM – Free Report) (TSE:CM) by 27.3% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 599,560 shares of the bank’s stock after purchasing an additional 128,399 shares during the period. Envestnet Asset Management Inc. owned approximately 0.07% of Canadian Imperial Bank of Commerce worth $25,433,000 at the end of the most recent reporting period.
Several other large investors have also made changes to their positions in the business. Raymond James Financial Services Advisors Inc. increased its stake in Canadian Imperial Bank of Commerce by 8.8% during the first quarter. Raymond James Financial Services Advisors Inc. now owns 8,361 shares of the bank’s stock valued at $1,017,000 after acquiring an additional 674 shares during the period. US Bancorp DE increased its stake in Canadian Imperial Bank of Commerce by 14.7% during the first quarter. US Bancorp DE now owns 4,323 shares of the bank’s stock valued at $527,000 after acquiring an additional 554 shares during the period. Cambridge Investment Research Advisors Inc. increased its stake in Canadian Imperial Bank of Commerce by 24.1% during the first quarter. Cambridge Investment Research Advisors Inc. now owns 6,630 shares of the bank’s stock valued at $807,000 after acquiring an additional 1,287 shares during the period. Private Advisor Group LLC increased its stake in Canadian Imperial Bank of Commerce by 20.4% during the first quarter. Private Advisor Group LLC now owns 4,512 shares of the bank’s stock valued at $549,000 after acquiring an additional 763 shares during the period. Finally, BlackRock Inc. increased its stake in Canadian Imperial Bank of Commerce by 6.4% during the first quarter. BlackRock Inc. now owns 308,427 shares of the bank’s stock valued at $37,532,000 after acquiring an additional 18,653 shares during the period. Institutional investors and hedge funds own 43.72% of the company’s stock.
Analyst Ratings Changes
Several equities analysts recently issued reports on CM shares. Canaccord Genuity Group upgraded Canadian Imperial Bank of Commerce from a “hold” rating to a “buy” rating in a research note on Wednesday, May 10th. StockNews.com started coverage on Canadian Imperial Bank of Commerce in a research note on Thursday, August 17th. They issued a “hold” rating on the stock. Finally, CIBC upgraded Canadian Imperial Bank of Commerce from a “hold” rating to a “buy” rating in a research note on Tuesday, May 9th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and two have issued a buy rating to the stock. According to MarketBeat, Canadian Imperial Bank of Commerce presently has an average rating of “Hold” and an average price target of $65.33.
Canadian Imperial Bank of Commerce Trading Down 3.2 %
CM stock opened at $39.59 on Friday. The firm has a market cap of $36.58 billion, a P/E ratio of 10.00, a P/E/G ratio of 1.56 and a beta of 1.00. Canadian Imperial Bank of Commerce has a 1-year low of $39.11 and a 1-year high of $49.95. The business’s 50 day moving average is $42.02 and its 200-day moving average is $42.57. The company has a current ratio of 1.06, a quick ratio of 1.06 and a debt-to-equity ratio of 0.14.
About Canadian Imperial Bank of Commerce
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.
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