Canadian Imperial Bank of Commerce (NYSE:CM) Shares Sold by UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lowered its holdings in shares of Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) by 12.6% in the third quarter, Holdings Channel reports. The firm owned 1,147,311 shares of the bank’s stock after selling 164,730 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC’s holdings in Canadian Imperial Bank of Commerce were worth $70,376,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently bought and sold shares of CM. Ridgewood Investments LLC acquired a new stake in shares of Canadian Imperial Bank of Commerce during the second quarter worth about $29,000. BNP Paribas Financial Markets purchased a new stake in Canadian Imperial Bank of Commerce during the 3rd quarter valued at approximately $44,000. Blue Trust Inc. lifted its position in Canadian Imperial Bank of Commerce by 571.6% during the 3rd quarter. Blue Trust Inc. now owns 732 shares of the bank’s stock worth $45,000 after acquiring an additional 623 shares during the period. Massmutual Trust Co. FSB ADV grew its stake in shares of Canadian Imperial Bank of Commerce by 23.1% in the 3rd quarter. Massmutual Trust Co. FSB ADV now owns 911 shares of the bank’s stock valued at $56,000 after purchasing an additional 171 shares during the last quarter. Finally, City State Bank acquired a new position in shares of Canadian Imperial Bank of Commerce in the third quarter valued at approximately $61,000. 49.88% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

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

Canadian Imperial Bank of Commerce Stock Performance

Shares of CM opened at $64.07 on Tuesday. 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 52-week low of $41.44 and a 52-week high of $65.89. The company has a 50-day simple moving average of $62.78 and a 200-day simple moving average of $55.60. The company has a market capitalization of $60.52 billion, a PE ratio of 12.59, a P/E/G ratio of 1.70 and a beta of 1.06.

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.