Canadian Imperial Bank of Commerce (TSE:CM) Price Target Raised to C$176.00

Canadian Imperial Bank of Commerce (TSE:CM) (NYSE:CM) had its price objective lifted by equities researchers at Royal Bank Of Canada from C$167.00 to C$176.00 in a research report issued to clients and investors on Friday,BayStreet.CA reports. The firm presently has an “outperform” rating on the stock. Royal Bank Of Canada’s price target points to a potential upside of 11.30% from the company’s previous close.

A number of other brokerages have also commented on CM. Scotiabank boosted their price objective on Canadian Imperial Bank of Commerce from C$155.00 to C$157.00 and gave the stock a “sector perform” rating in a report on Tuesday, June 16th. Canaccord Genuity Group lifted their price objective on shares of Canadian Imperial Bank of Commerce from C$160.00 to C$168.00 and gave the stock a “hold” rating in a report on Tuesday, July 7th. Keefe, Bruyette & Woods set a C$186.00 target price on shares of Canadian Imperial Bank of Commerce and gave the stock a “hold” rating in a research note on Friday, August 21st. Raymond James Financial increased their target price on shares of Canadian Imperial Bank of Commerce from C$155.50 to C$173.50 and gave the company a “market perform” rating in a report on Wednesday, August 12th. Finally, TD raised their price target on shares of Canadian Imperial Bank of Commerce from C$163.00 to C$175.00 and gave the company a “buy” rating in a research report on Wednesday, August 12th. Five investment analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of C$167.71.

Canadian Imperial Bank of Commerce Stock Performance

Shares of Canadian Imperial Bank of Commerce stock traded down C$1.03 during trading hours on Friday, reaching C$158.13. The company’s stock had a trading volume of 863,331 shares, compared to its average volume of 2,505,650. The company has a market capitalization of C$144.34 billion, a P/E ratio of 15.69, a P/E/G ratio of 3.03 and a beta of 1.40. The stock’s fifty day simple moving average is C$164.90 and its two-hundred day simple moving average is C$151.12. Canadian Imperial Bank of Commerce has a one year low of C$105.01 and a one year high of C$172.87.

Canadian Imperial Bank of Commerce (TSE:CM) (NYSE:CM) last posted its earnings results on Thursday, August 27th. The company reported C$2.73 EPS for the quarter. Canadian Imperial Bank of Commerce had a net margin of 18.44% and a return on equity of 15.24%. The company had revenue of C$8.37 billion during the quarter. As a group, research analysts forecast that Canadian Imperial Bank of Commerce will post 6.4127341 earnings per share for the current year.

Insider Buying and Selling

In related news, insider Amy Florence South sold 1,086 shares of the firm’s stock in a transaction dated Thursday, June 25th. The shares were sold at an average price of C$162.15, for a total transaction of C$176,094.90. Also, insider Christopher John Anderson sold 8,490 shares of Canadian Imperial Bank of Commerce stock in a transaction dated Thursday, June 11th. The stock was sold at an average price of C$155.50, for a total transaction of C$1,320,195.00. Following the completion of the sale, the insider directly owned 6,252 shares in the company, valued at approximately C$972,186. This represents a 57.59% decrease in their position. Over the last 90 days, insiders sold 17,776 shares of company stock worth $2,817,744. Insiders own 0.02% of the company’s stock.

About Canadian Imperial Bank of Commerce

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.