Canadian Imperial Bank of Commerce (NYSE:CM) shares saw unusually-strong trading volume on Wednesday . Approximately 907,368 shares traded hands during trading, an increase of 22% from the previous session’s volume of 746,129 shares.The stock last traded at $74.58 and had previously closed at $74.32.

A number of analysts have weighed in on CM shares. Vetr upgraded Canadian Imperial Bank of Commerce from a “hold” rating to a “buy” rating and set a $81.04 price target for the company in a report on Tuesday, May 3rd. Zacks Investment Research downgraded Canadian Imperial Bank of Commerce from a “buy” rating to a “hold” rating in a research note on Wednesday, April 27th. Canaccord Genuity restated a “hold” rating on shares of Canadian Imperial Bank of Commerce in a research note on Thursday, May 26th. Royal Bank Of Canada restated a “sector perform” rating and issued a $106.00 target price (down from $107.00) on shares of Canadian Imperial Bank of Commerce in a research note on Friday, May 27th. Finally, TD Securities restated a “hold” rating and issued a $100.00 target price on shares of Canadian Imperial Bank of Commerce in a research note on Friday, July 1st. Five investment analysts have rated the stock with a sell rating, seven have given a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus target price of $96.01.

The stock has a market cap of $29.57 billion and a PE ratio of 10.65. The company has a 50-day moving average of $78.32 and a 200-day moving average of $72.15.

Canadian Imperial Bank of Commerce (NYSE:CM) last announced its quarterly earnings results on Thursday, May 26th. The company reported $2.40 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.32 by $0.08. Equities analysts forecast that Canadian Imperial Bank of Commerce will post $9.49 earnings per share for the current year.

Several institutional investors have modified their holdings of CM. Pinnacle Associates Ltd. boosted its position in shares of Canadian Imperial Bank of Commerce by 33.6% in the fourth quarter. Pinnacle Associates Ltd. now owns 16,494 shares of the company’s stock worth $1,086,000 after buying an additional 4,151 shares during the last quarter. Texas Yale Capital Corp. boosted its position in shares of Canadian Imperial Bank of Commerce by 3.7% in the fourth quarter. Texas Yale Capital Corp. now owns 18,420 shares of the company’s stock worth $1,213,000 after buying an additional 660 shares during the last quarter. Advisors Asset Management Inc. boosted its position in shares of Canadian Imperial Bank of Commerce by 2.7% in the fourth quarter. Advisors Asset Management Inc. now owns 19,560 shares of the company’s stock worth $1,288,000 after buying an additional 519 shares during the last quarter. Comerica Bank boosted its position in shares of Canadian Imperial Bank of Commerce by 4.7% in the fourth quarter. Comerica Bank now owns 21,568 shares of the company’s stock worth $1,359,000 after buying an additional 960 shares during the last quarter. Finally, World Asset Management Inc boosted its position in shares of Canadian Imperial Bank of Commerce by 2.4% in the fourth quarter. World Asset Management Inc now owns 21,068 shares of the company’s stock worth $1,388,000 after buying an additional 484 shares during the last quarter.

Canadian Imperial Bank of Commerce (CIBC) is a Canada-based financial institution. CIBC serves its clients through three strategic business units: Retail and Business Banking, Wealth Management and Wholesale Banking. Its three main operating groups are supported by six functional groups: Technology and Operations; Corporate Development; Finance; Treasury; Administration; and Risk Management, which form part of Corporate and Other.

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