Short Interest Coverage: What’s in Canadian Imperial Bank of Commerce (NYSE:CM) After Decline in Shorted Shares?

November 28, 2016 - By Louis Casey   ·   0 Comments

Short Interest Coverage: What’s in Canadian Imperial Bank of Commerce (NYSE:CM) After Decline in Shorted Shares?

The stock of Canadian Imperial Bank of Commerce (NYSE:CM) registered a decrease of 1.36% in short interest. CM’s total short interest was 19.15 million shares in November as published by FINRA. Its down 1.36% from 19.41M shares, reported previously. With 360,300 shares average volume, it will take short sellers 53 days to cover their CM’s short positions. The short interest to Canadian Imperial Bank of Commerce’s float is 4.85%. The stock increased 0.32% or $0.25 on November 28, hitting $78.6. About 1.03 million shares traded hands or 132.91% up from the average. Canadian Imperial Bank of Commerce (USA) (NYSE:CM) has declined 0.91% since April 25, 2016 and is downtrending. It has underperformed by 6.92% the S&P500.

Canadian Imperial Bank of Commerce is a global financial institution. The company has a market cap of $31.10 billion. The Firm provides a range of financial services and products to approximately 11 million individual, small business, commercial, corporate and institutional clients in Canada and around the world. It has a 10.31 P/E ratio. The Firm operates through three divisions: Retail and Business Banking, Wealth Management and Capital Markets.

Canadian Imperial Bank of Commerce (USA) (NYSE:CM) Ratings Coverage

Out of 10 analysts covering Canadian Imperial Bank Of Commerce (NYSE:CM), 2 rate it a “Buy”, 2 “Sell”, while 6 “Hold”. This means 20% are positive. Canadian Imperial Bank Of Commerce has been the topic of 22 analyst reports since August 4, 2015 according to StockzIntelligence Inc. The firm has “Strong Sell” rating given on Tuesday, September 1 by Zacks. On Thursday, August 27 the stock rating was upgraded by Credit Suisse to “Underperform”. The stock of Canadian Imperial Bank of Commerce (USA) (NYSE:CM) earned “Sector Perform” rating by RBC Capital Markets on Friday, August 26. Bank of America initiated the stock with “Underperform” rating in Tuesday, November 1 report. Credit Agricole downgraded the shares of CM in a report on Monday, December 7 to “Underperform” rating. The company was downgraded on Thursday, December 3 by TD Securities. As per Friday, August 28, the company rating was maintained by BMO Capital Markets. The stock has “Hold” rating given by Zacks on Monday, September 21. The firm earned “Underperform” rating on Monday, August 31 by Credit Suisse. The company was maintained on Thursday, June 30 by RBC Capital Markets.

CM Company Profile

Canadian Imperial Bank of Commerce (CIBC), incorporated on May 17, 1995, is a global financial institution. The Firm provides a range of financial services and products to approximately 11 million individual, small business, commercial, corporate and institutional clients in Canada and around the world. The Firm operates through three divisions: Retail and Business Banking, Wealth Management and Capital Markets. The Company’s Retail and Business Banking segment provides personal and business clients across Canada with financial advice, services and products in its banking centers or through remote channels, such as mobile advisors, telephone, online or mobile banking. The Company’s Wealth Management segment provides advice and investment solutions. The Company’s Capital Markets segment provides integrated credit and global markets products, investment banking advisory services and research to corporate, government and institutional clients around the world.

More notable recent Canadian Imperial Bank of Commerce (USA) (NYSE:CM) news were published by: Fool.ca which released: “Why Canadian Imperial Bank of Commerce Isn’t Your 1-Stop Bank” on November 07, 2016, also Fool.ca with their article: “Nervous About Housing? Then Avoid Canadian Imperial Bank of Commerce” published on September 14, 2016, Fool.ca published: “Forget the Naysayers: Canadian Imperial Bank of Commerce Is the Bank to Bet on” on October 19, 2016. More interesting news about Canadian Imperial Bank of Commerce (USA) (NYSE:CM) were released by: Fool.ca and their article: “Why Canadian Imperial Bank of Commerce Is up 2% Today” published on August 25, 2016 as well as Fool.ca‘s news article titled: “Should You Buy Canadian Imperial Bank of Commerce or National Bank of Canada …” with publication date: March 25, 2016.

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By Louis Casey


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