Shares of Canadian Imperial Bank of Commerce (NYSE:CM) saw unusually-high trading volume on Thursday . Approximately 978,861 shares were traded during mid-day trading, an increase of 1% from the previous session’s volume of 967,636 shares.The stock last traded at $76.68 and had previously closed at $76.01.

CM has been the topic of a number of research analyst reports. Vetr raised Canadian Imperial Bank of Commerce from a “buy” rating to a “strong-buy” rating and set a $81.28 target price on the stock in a research note on Thursday, April 7th. Royal Bank Of Canada reduced their price objective on Canadian Imperial Bank of Commerce from $106.00 to $104.00 and set a “sector perform” rating on the stock in a research note on Thursday, June 30th. Zacks Investment Research cut Canadian Imperial Bank of Commerce from a “buy” rating to a “hold” rating in a research note on Wednesday, April 27th. TD Securities reaffirmed a “hold” rating and set a $100.00 price objective on shares of Canadian Imperial Bank of Commerce in a research note on Friday, July 1st. Finally, Canaccord Genuity reaffirmed a “hold” rating and set a $100.00 price objective (down from $106.00) on shares of Canadian Imperial Bank of Commerce in a research note on Wednesday, June 29th. Five research analysts have rated the stock with a sell rating, seven have assigned a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the stock. The company has an average rating of “Hold” and a consensus target price of $96.01.

The company has a market capitalization of $30.06 billion and a price-to-earnings ratio of 10.97. The company has a 50 day moving average of $77.77 and a 200 day moving average of $72.51.

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

A number of hedge funds recently made changes to their positions in CM. Vanguard Group Inc. boosted its stake in shares of Canadian Imperial Bank of Commerce by 8.2% in the fourth quarter. Vanguard Group Inc. now owns 5,694,807 shares of the company’s stock valued at $375,117,000 after buying an additional 431,900 shares during the last quarter. Schroder Investment Management Group increased its stake in Canadian Imperial Bank of Commerce by 27.5% in the fourth quarter. Schroder Investment Management Group now owns 223,426 shares of the company’s stock worth $20,374,000 after buying an additional 48,234 shares during the period. Stevens Capital Management LP acquired a new stake in Canadian Imperial Bank of Commerce during the fourth quarter worth $2,509,000. First Trust Advisors LP increased its stake in Canadian Imperial Bank of Commerce by 27.2% in the fourth quarter. First Trust Advisors LP now owns 93,533 shares of the company’s stock worth $6,161,000 after buying an additional 20,005 shares during the period. Finally, Dimensional Fund Advisors LP increased its stake in Canadian Imperial Bank of Commerce by 9.7% in the fourth quarter. Dimensional Fund Advisors LP now owns 197,093 shares of the company’s stock worth $12,983,000 after buying an additional 17,399 shares during the period.

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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