Jefferies Financial Group Issues Positive Forecast for Canadian Imperial Bank of Commerce (TSE:CM) Stock Price

Canadian Imperial Bank of Commerce (TSE:CM) (NYSE:CM) had its price objective raised by equities research analysts at Jefferies Financial Group from C$153.00 to C$154.00 in a research note issued to investors on Thursday, BayStreet reports. Jefferies Financial Group’s target price indicates a potential downside of 5.20% from the stock’s previous close.

Other research analysts have also recently issued research reports about the company. Scotiabank increased 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 research note on Tuesday, June 16th. Raymond James Financial increased their price target on Canadian Imperial Bank of Commerce from C$155.50 to C$173.50 and gave the stock a “market perform” rating in a research report on Wednesday, August 12th. Canaccord Genuity Group raised their price target on Canadian Imperial Bank of Commerce from C$168.00 to C$169.00 and gave the company a “hold” rating in a research note on Friday, August 28th. National Bank Financial set a C$180.00 price objective on Canadian Imperial Bank of Commerce and gave the company a “sector perform” rating in a report on Monday, August 24th. Finally, TD upped their price objective on shares of Canadian Imperial Bank of Commerce from C$163.00 to C$175.00 and gave the stock a “buy” rating in a research note on Wednesday, August 12th. Five investment analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of C$167.79.

Canadian Imperial Bank of Commerce Stock Performance

Canadian Imperial Bank of Commerce stock traded up C$2.28 during trading hours on Thursday, hitting C$162.45. The company had a trading volume of 533,667 shares, compared to its average volume of 2,505,946. The firm has a market cap of C$147.49 billion, a P/E ratio of 15.59, a P/E/G ratio of 3.03 and a beta of 1.40. The company has a 50-day moving average price of C$164.61 and a two-hundred day moving average price of C$151.86. Canadian Imperial Bank of Commerce has a 1 year low of C$107.38 and a 1 year high of C$172.87.

Canadian Imperial Bank of Commerce (TSE:CM) (NYSE:CM) last issued its earnings results on Thursday, August 27th. The company reported C$2.73 EPS for the quarter. The business had revenue of C$8.37 billion for the quarter. Canadian Imperial Bank of Commerce had a net margin of 16.13% and a return on equity of 15.44%. As a group, equities research analysts anticipate that Canadian Imperial Bank of Commerce will post 6.4127341 EPS for the current year.

Insiders Place Their Bets

In other news, insider Stephen Alan Scholtz sold 6,000 shares of Canadian Imperial Bank of Commerce stock in a transaction on Wednesday, June 24th. The stock was sold at an average price of C$162.70, for a total value of C$976,200.00. Also, insider Christopher John Anderson sold 8,490 shares of the business’s stock in a transaction on Thursday, June 11th. The stock was sold at an average price of C$155.50, for a total value of C$1,320,195.00. Following the completion of the transaction, the insider directly owned 6,252 shares of the company’s stock, valued at approximately C$972,186. The trade was a 57.59% decrease in their ownership of the stock. Insiders sold a total of 17,776 shares of company stock worth $2,817,744 over the last 90 days. Company 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.