Canadian Imperial Bank of Commerce (USA) Stock Price Could Go Down After Today’s Bearish Options Activity

 Canadian Imperial Bank of Commerce (USA) Stock Price Could Go Down After Today's Bearish Options Activity

In today’s session Canadian Imperial Bank of Commerce (USA) (CM) recorded an unusually high (621) contracts volume of put trades. Someone, most probably a professional was a very active buyer of the March, 2017 put, expecting serious CM decrease. With 621 contracts traded and 2004 open interest for the Mar, 17 contract, it seems this is a quite bearish bet. The option with symbol: CM170317P00075000 closed last at: $4.3 or 10.3% up. About 64,125 shares traded hands. Canadian Imperial Bank of Commerce (USA) (NYSE:CM) has risen 6.03% since March 7, 2016 and is uptrending. It has underperformed by 1.56% the S&P500.

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

Out of 9 analysts covering Canadian Imperial Bank Of Commerce (NYSE:CM), 2 rate it a “Buy”, 1 “Sell”, while 6 “Hold”. This means 22% are positive. $112 is the highest target while $78 is the lowest. The $99 average target is 30.23% above today’s ($76.02) stock price. Canadian Imperial Bank Of Commerce has been the topic of 21 analyst reports since August 4, 2015 according to StockzIntelligence Inc. The firm has “Hold” rating given on Monday, September 21 by Zacks. The stock of Canadian Imperial Bank of Commerce (USA) (NYSE:CM) has “Outperform” rating given on Friday, August 28 by BMO Capital Markets. The firm has “Underperform” rating by Credit Suisse given on Thursday, August 27. As per Wednesday, September 21, the company rating was initiated by Dundee Securities. The stock of Canadian Imperial Bank of Commerce (USA) (NYSE:CM) earned “Hold” rating by TD Securities on Thursday, December 3. The stock has “Strong Sell” rating given by Zacks on Tuesday, September 1. As per Monday, August 31, the company rating was maintained by BMO Capital Markets. Credit Agricole downgraded Canadian Imperial Bank of Commerce (USA) (NYSE:CM) on Monday, December 7 to “Underperform” rating. The stock has “Hold” rating given by Canaccord Genuity on Thursday, August 27. The stock of Canadian Imperial Bank of Commerce (USA) (NYSE:CM) has “Sell” rating given on Monday, September 7 by Zacks.

According to Zacks Investment Research, “CIBC is a leading North American financial institution that offers a full range of products and services through its comprehensive electronic banking network, branches and offices across Canada, in the United States and around the world. It offers these services through two distinct business lines: CIBC Retail Markets and CIBC World Markets. The former comprises CIBC’s personal, business banking and wealth businesses. It provides a full range of financial products and services to personal, business and wealth management clients, as well as investment management services globally to retail and institutional clients. CIBC is headquartered in Toronto, Canada.”

Canadian Imperial Bank of Commerce is a global financial institution. The company has a market cap of $29.88 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 9.8 P/E ratio. The Firm operates through three divisions: Retail and Business Banking, Wealth Management and 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: “Nervous About Housing? Then Avoid Canadian Imperial Bank of Commerce” on September 14, 2016, also Fool.ca with their article: “Why Canadian Imperial Bank of Commerce Is up 2% Today” published on August 25, 2016, Fool.ca published: “Canadian Imperial Bank of Commerce: Should You Own This Stock?” on August 29, 2016. More interesting news about Canadian Imperial Bank of Commerce (USA) (NYSE:CM) were released by: Fool.ca and their article: “Should BCE Inc. or Canadian Imperial Bank of Commerce Be in Your RRSP?” published on September 07, 2016 as well as Fool.ca‘s news article titled: “Dividend Investors: Should You Buy Canadian Imperial Bank of Commerce or Bank …” with publication date: August 08, 2016.

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