3 Stocks Pushing The Financial Sector Higher

Editor's Note: TheStreet ratings do not represent the views of TheStreet's staff or its contributors. Ratings are established by computer based on metrics for performance (which includes growth, stock performance, efficiency and valuation) and risk (volatility and solvency). Companies with poor cash flow or high debt levels tend to earn lower ratings in our model

All three major indices are trading up today with the Dow Jones Industrial Average (^DJI) trading up 22 points (0.2%) at 12,810 as of Wednesday, Nov. 21, 2012, 11:49 AM ET. The NYSE advances/declines ratio sits at 1,635 issues advancing vs. 1,204 declining with 167 unchanged.

The Financial sector currently is unchanged today versus the S&P 500, which is up 0.0%. Top gainers within the sector include HDFC Bank (HDB), up 2.7%, Prologis (PLD), up 1.0%, Bank of America Corporation (BAC), up 0.8%, Toronto-Dominion Bank (TD), up 0.8% and Bank of Montreal (BMO), up 0.6%. On the negative front, top decliners within the sector include Woori Finance Holdings (WF), down 2.7%, KB Financial Group (KB), down 2.1%, Discover Financial Services (DFS), down 1.3%, SunTrust Banks (STI), down 1.3% and Orix Corporation (IX), down 1.2%.

TheStreet Ratings group would like to highlight 3 stocks pushing the sector higher today:

3. Canadian Imperial Bank of Commerce (CM) is one of the companies pushing the Financial sector higher today. As of noon trading, Canadian Imperial Bank of Commerce is up $0.36 (0.5%) to $78.74 on light volume Thus far, 35,825 shares of Canadian Imperial Bank of Commerce exchanged hands as compared to its average daily volume of 129,000 shares. The stock has ranged in price between $78.36-$78.96 after having opened the day at $78.50 as compared to the previous trading day's close of $78.38.

Canadian Imperial Bank of Commerce provides various financial products and services to individual, small business, commercial, corporate, and institutional clients in Canada and internationally. Canadian Imperial Bank of Commerce has a market cap of $31.7 billion and is part of the banking industry. The company has a P/E ratio of 9.5, below the S&P 500 P/E ratio of 17.7. Shares are up 8.3% year to date as of the close of trading on Tuesday. Currently there are 4 analysts that rate Canadian Imperial Bank of Commerce a buy, no analysts rate it a sell, and 5 rate it a hold.

TheStreet Ratings rates Canadian Imperial Bank of Commerce as a hold. The company's strengths can be seen in multiple areas, such as its revenue growth, notable return on equity and solid stock price performance. However, as a counter to these strengths, we find that we feel that the company's cash flow from its operations has been weak overall. Get the full Canadian Imperial Bank of Commerce Ratings Report now.

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