3 Stocks Pushing The Banking Industry Lower

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One out of the three major indices are trading lower today with the Dow Jones Industrial Average ( ^DJI) trading up 5 points (0.0%) at 16,485 as of Friday, Dec. 27, 2013, 11:55 AM ET. The NYSE advances/declines ratio sits at 1,370 issues advancing vs. 1,569 declining with 149 unchanged.

The Banking industry currently sits down 0.1% versus the S&P 500, which is unchanged. A company within the industry that fell today was Woori Finance Holdings ( WF), up 1.7%. A company within the industry that increased today was Mitsubishi UFJ Financial Group ( MTU), up 0.9%.

TheStreet would like to highlight 3 stocks pushing the industry lower today:

3. Canadian Imperial Bank of Commerce ( CM) is one of the companies pushing the Banking industry lower today. As of noon trading, Canadian Imperial Bank of Commerce is down $0.51 (-0.6%) to $84.37 on light volume. Thus far, 54,705 shares of Canadian Imperial Bank of Commerce exchanged hands as compared to its average daily volume of 164,500 shares. The stock has ranged in price between $84.22-$85.09 after having opened the day at $85.09 as compared to the previous trading day's close of $84.88.

Canadian Imperial Bank of Commerce, a diversified financial institution, provides various financial products and services to individuals, small businesses, and commercial, corporate, and institutional clients in Canada and internationally. Canadian Imperial Bank of Commerce has a market cap of $33.9 billion and is part of the financial sector. Shares are up 5.3% year to date as of the close of trading on Thursday. Currently there is 1 analyst that rates Canadian Imperial Bank of Commerce a buy, no analysts rate it a sell, and 1 rates 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, growth in earnings per share and expanding profit margins. However, as a counter to these strengths, we also find weaknesses including unimpressive growth in net income and weak operating cash flow. Get the full Canadian Imperial Bank of Commerce Ratings Report now.

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