Canadian Imperial Bank of Commerce (TSE:CM) Given New C$157.00 Price Target at Scotiabank

Canadian Imperial Bank of Commerce (TSE:CM) (NYSE:CM) had its price target upped by equities researchers at Scotiabank from C$155.00 to C$157.00 in a research note issued to investors on Tuesday,BayStreet.CA reports. The brokerage presently has a “sector perform” rating on the stock. Scotiabank’s price target points to a potential downside of 1.95% from the company’s current price.

Several other equities analysts have also recently issued reports on the company. National Bank Financial raised their price target on Canadian Imperial Bank of Commerce from C$150.00 to C$152.00 and gave the company a “sector perform” rating in a report on Friday, May 15th. Royal Bank Of Canada reduced their target price on Canadian Imperial Bank of Commerce from C$158.00 to C$147.00 and set an “outperform” rating on the stock in a report on Wednesday, March 25th. Raymond James Financial reduced their target price on Canadian Imperial Bank of Commerce from C$157.50 to C$155.50 and set a “market perform” rating on the stock in a report on Friday, May 29th. TD Securities raised their target price on Canadian Imperial Bank of Commerce from C$142.00 to C$153.00 and gave the stock a “buy” rating in a report on Friday, February 27th. Finally, BMO Capital Markets raised their target price on Canadian Imperial Bank of Commerce from C$135.00 to C$150.00 and gave the stock an “outperform” rating in a report on Friday, February 27th. Six investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of C$152.86.

Canadian Imperial Bank of Commerce Trading Up 0.6%

Canadian Imperial Bank of Commerce stock traded up C$0.98 during mid-day trading on Tuesday, hitting C$160.13. The stock had a trading volume of 660,166 shares, compared to its average volume of 2,493,114. The stock has a 50-day simple moving average of C$150.51 and a two-hundred day simple moving average of C$136.83. The stock has a market capitalization of C$146.17 billion, a PE ratio of 15.89, a P/E/G ratio of 3.03 and a beta of 1.42. Canadian Imperial Bank of Commerce has a 12 month low of C$92.95 and a 12 month high of C$162.12.

Canadian Imperial Bank of Commerce (TSE:CM) (NYSE:CM) last posted its quarterly earnings results on Thursday, May 28th. The company reported C$2.54 earnings per share (EPS) for the quarter. The business had revenue of C$8.01 billion for the quarter. Canadian Imperial Bank of Commerce had a return on equity of 15.24% and a net margin of 18.44%. Sell-side analysts expect that Canadian Imperial Bank of Commerce will post 6.4127341 earnings per share for the current fiscal year.

Insider Transactions at Canadian Imperial Bank of Commerce

In related news, insider Christopher John Anderson sold 1,000 shares of Canadian Imperial Bank of Commerce stock in a transaction that occurred on Friday, June 5th. The stock was sold at an average price of C$152.15, for a total value of C$152,150.00. Following the sale, the insider owned 6,252 shares of the company’s stock, valued at approximately C$951,241.80. This trade represents a 13.79% decrease in their position. Corporate insiders own 0.02% of the company’s stock.

Canadian Imperial Bank of Commerce Company Profile

CIBC is a leading North American financial institution with 15 million personal banking, business, public sector and institutional clients. Across Personal and Business Banking, Commercial Banking and Wealth Management, and Capital Markets, CIBC offers a full range of advice, solutions and services through its leading digital banking network, and locations across Canada, in the United States and around the world.