Investment Management Corp of Ontario Has $12.89 Million Position in Canadian Imperial Bank of Commerce (NYSE:CM)

Investment Management Corp of Ontario trimmed its position in shares of Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) by 0.5% during the third quarter, HoldingsChannel.com reports. The firm owned 210,202 shares of the bank’s stock after selling 1,159 shares during the period. Investment Management Corp of Ontario’s holdings in Canadian Imperial Bank of Commerce were worth $12,894,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Toronto Dominion Bank boosted its position in Canadian Imperial Bank of Commerce by 17.9% during the 2nd quarter. Toronto Dominion Bank now owns 25,941,777 shares of the bank’s stock worth $1,233,272,000 after buying an additional 3,942,894 shares during the period. National Bank of Canada FI boosted its position in Canadian Imperial Bank of Commerce by 26.8% during the 2nd quarter. National Bank of Canada FI now owns 18,340,869 shares of the bank’s stock worth $867,377,000 after buying an additional 3,875,280 shares during the period. Cibc World Market Inc. boosted its position in Canadian Imperial Bank of Commerce by 18.9% during the 2nd quarter. Cibc World Market Inc. now owns 19,748,305 shares of the bank’s stock worth $938,834,000 after buying an additional 3,143,734 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp boosted its position in Canadian Imperial Bank of Commerce by 61.7% during the 2nd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 7,030,130 shares of the bank’s stock worth $334,321,000 after buying an additional 2,681,428 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. boosted its position in Canadian Imperial Bank of Commerce by 14.0% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 10,641,498 shares of the bank’s stock worth $652,676,000 after buying an additional 1,305,665 shares during the period. Institutional investors and hedge funds own 49.88% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently commented on CM shares. StockNews.com downgraded shares of Canadian Imperial Bank of Commerce from a “hold” rating to a “sell” rating in a research report on Saturday, October 19th. Bank of America upgraded shares of Canadian Imperial Bank of Commerce from a “neutral” rating to a “buy” rating in a report on Friday, August 30th. BMO Capital Markets raised their price target on shares of Canadian Imperial Bank of Commerce from $77.00 to $81.00 and gave the stock an “outperform” rating in a report on Friday, August 30th. Finally, Cormark upgraded shares of Canadian Imperial Bank of Commerce from a “hold” rating to a “moderate buy” rating in a report on Friday, August 30th. Two analysts have rated the stock with a sell rating, one has issued a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $81.00.

Canadian Imperial Bank of Commerce Stock Performance

NYSE:CM opened at $64.07 on Tuesday. The company has a fifty day moving average of $62.78 and a 200-day moving average of $55.60. The firm has a market capitalization of $60.52 billion, a P/E ratio of 12.59, a P/E/G ratio of 1.70 and a beta of 1.06. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 0.14. Canadian Imperial Bank of Commerce has a twelve month low of $41.44 and a twelve month high of $65.89.

Canadian Imperial Bank of Commerce Company Profile

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.