IHT Wealth Management LLC Purchases Shares of 3,041 Canadian Imperial Bank of Commerce (NYSE:CM)

IHT Wealth Management LLC purchased a new stake in Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 3,041 shares of the bank’s stock, valued at approximately $251,000.

Several other institutional investors and hedge funds have also modified their holdings of CM. National Pension Service increased its position in Canadian Imperial Bank of Commerce by 4.8% during the third quarter. National Pension Service now owns 558,056 shares of the bank’s stock worth $61,001,000 after buying an additional 25,677 shares in the last quarter. K2 Principal Fund L.P. acquired a new stake in shares of Canadian Imperial Bank of Commerce during the 3rd quarter worth about $1,519,000. Point72 Asset Management L.P. acquired a new stake in shares of Canadian Imperial Bank of Commerce during the 3rd quarter worth about $516,000. Parametric Portfolio Associates LLC grew its holdings in shares of Canadian Imperial Bank of Commerce by 18.6% during the third quarter. Parametric Portfolio Associates LLC now owns 256,120 shares of the bank’s stock worth $21,145,000 after buying an additional 40,244 shares in the last quarter. Finally, Pictet Asset Management Ltd. grew its holdings in shares of Canadian Imperial Bank of Commerce by 17.8% during the third quarter. Pictet Asset Management Ltd. now owns 273,294 shares of the bank’s stock worth $22,563,000 after buying an additional 41,300 shares in the last quarter. 44.29% of the stock is owned by institutional investors and hedge funds.

Shares of Canadian Imperial Bank of Commerce stock opened at $85.95 on Wednesday. Canadian Imperial Bank of Commerce has a 52-week low of $72.96 and a 52-week high of $87.62. The firm has a market capitalization of $38.72 billion, a PE ratio of 9.20, a price-to-earnings-growth ratio of 2.91 and a beta of 1.17. The company has a debt-to-equity ratio of 0.16, a current ratio of 0.87 and a quick ratio of 0.87. The company’s fifty day moving average price is $86.09 and its two-hundred day moving average price is $80.63.

A number of equities analysts have recently weighed in on CM shares. Zacks Investment Research raised shares of Canadian Imperial Bank of Commerce from a “hold” rating to a “buy” rating and set a $97.00 price objective for the company in a research report on Tuesday. Royal Bank of Canada restated a “hold” rating and set a $124.00 target price (down previously from $128.00) on shares of Canadian Imperial Bank of Commerce in a research report on Friday, August 23rd. BMO Capital Markets reaffirmed a “hold” rating on shares of Canadian Imperial Bank of Commerce in a research note on Friday, August 23rd. National Bank Financial reiterated a “hold” rating on shares of Canadian Imperial Bank of Commerce in a report on Friday, August 23rd. Finally, ValuEngine lowered Canadian Imperial Bank of Commerce from a “hold” rating to a “sell” rating in a research note on Monday, November 25th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and one has issued a buy rating to the company’s stock. Canadian Imperial Bank of Commerce currently has an average rating of “Hold” and a consensus target price of $122.50.

Canadian Imperial Bank of Commerce 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 four strategic business units: Canadian Personal and Small Business Banking; Canadian Commercial Banking and Wealth Management; U.S.

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Institutional Ownership by Quarter for Canadian Imperial Bank of Commerce (NYSE:CM)

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