Canadian Imperial Bank of Commerce (NYSE:CM)’s share price gapped up prior to trading on Wednesday . The stock had previously closed at $76.42, but opened at $76.52. Canadian Imperial Bank of Commerce shares last traded at $76.73, with a volume of 215,621 shares traded.

A number of equities analysts recently commented on the company. Zacks Investment Research upgraded Canadian Imperial Bank of Commerce from a “sell” rating to a “hold” rating in a research note on Thursday, August 4th. TD Securities reiterated a “hold” rating and issued a $100.00 price target on shares of Canadian Imperial Bank of Commerce in a research note on Friday, July 1st. Royal Bank Of Canada decreased their price target on Canadian Imperial Bank of Commerce from $106.00 to $104.00 and set a “sector perform” rating for the company in a research note on Thursday, June 30th. Canaccord Genuity reiterated a “hold” rating and issued a $100.00 price target (down from $106.00) on shares of Canadian Imperial Bank of Commerce in a research note on Wednesday, June 29th. Finally, Vetr upgraded Canadian Imperial Bank of Commerce from a “hold” rating to a “buy” rating and set a $84.06 price target for the company in a research note on Monday, May 16th. Five equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and two have issued a buy rating to the company. The company presently has a consensus rating of “Hold” and an average target price of $96.01.

The company has a 50 day moving average of $75.85 and a 200 day moving average of $74.13. The stock has a market cap of $30.30 billion and a PE ratio of 10.96.

Canadian Imperial Bank of Commerce (NYSE:CM) last posted its quarterly earnings data on Thursday, May 26th. The company reported $2.40 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.32 by $0.08. Equities analysts expect that Canadian Imperial Bank of Commerce will post $7.22 EPS for the current year.

Other hedge funds and institutional investors recently bought and sold shares of the company. Advisors Asset Management Inc. increased its position in 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 valued at $1,288,000 after buying an additional 519 shares during the last quarter. Comerica Bank increased its position in Canadian Imperial Bank of Commerce by 4.7% in the fourth quarter. Comerica Bank now owns 21,568 shares of the company’s stock valued at $1,359,000 after buying an additional 960 shares during the last quarter. Schroder Investment Management Group increased its position 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 valued at $20,374,000 after buying an additional 48,234 shares during the last quarter. Finally, Vanguard Group Inc. increased its position in 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.

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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