Canadian Imperial Bank of Commerce (TSE:CM) Price Target Raised to C$127.00

Canadian Imperial Bank of Commerce (TSE:CM) (NYSE:CM) had its price objective increased by Jefferies Financial Group from C$123.00 to C$127.00 in a note issued to investors on Wednesday,BayStreet.CA reports. Jefferies Financial Group’s price target would suggest a potential downside of 3.55% from the company’s previous close.

Several other research firms also recently commented on CM. Royal Bank Of Canada upped their price objective on shares of Canadian Imperial Bank of Commerce from C$131.00 to C$134.00 and gave the company an “outperform” rating in a report on Monday, January 5th. Raymond James Financial boosted their price target on shares of Canadian Imperial Bank of Commerce from C$127.00 to C$132.00 and gave the company a “market perform” rating in a research report on Friday, December 5th. Scotiabank raised their price objective on shares of Canadian Imperial Bank of Commerce from C$133.00 to C$138.00 in a report on Friday, January 9th. BMO Capital Markets lifted their price objective on shares of Canadian Imperial Bank of Commerce from C$130.00 to C$135.00 in a research note on Wednesday, December 17th. Finally, Barclays increased their target price on Canadian Imperial Bank of Commerce from C$119.00 to C$126.00 in a research report on Monday, December 8th. Four investment analysts have rated the stock with a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, Canadian Imperial Bank of Commerce currently has an average rating of “Hold” and a consensus price target of C$128.00.

Canadian Imperial Bank of Commerce Stock Performance

CM traded down C$1.27 during midday trading on Wednesday, reaching C$131.68. The company had a trading volume of 794,887 shares, compared to its average volume of 2,610,649. Canadian Imperial Bank of Commerce has a 12-month low of C$76.17 and a 12-month high of C$133.80. The business has a 50-day moving average price of C$127.16 and a two-hundred day moving average price of C$116.59. The stock has a market cap of C$122.02 billion, a PE ratio of 15.37, a P/E/G ratio of 3.03 and a beta of 1.26.

Canadian Imperial Bank of Commerce (TSE:CM) (NYSE:CM) last posted its quarterly earnings data on Thursday, December 4th. The company reported C$2.21 EPS for the quarter. Canadian Imperial Bank of Commerce had a return on equity of 12.61% and a net margin of 27.87%.The business had revenue of C$7.58 billion for the quarter. On average, research analysts anticipate that Canadian Imperial Bank of Commerce will post 6.4127341 earnings per share for the current year.

Insiders Place Their Bets

In other Canadian Imperial Bank of Commerce news, insider Frank Guse sold 5,000 shares of the firm’s stock in a transaction dated Wednesday, December 24th. The shares were sold at an average price of C$127.16, for a total value of C$635,800.00. Following the completion of the sale, the insider owned 1,359 shares of the company’s stock, valued at C$172,810.44. This trade represents a 78.63% decrease in their ownership of the stock. 0.02% of the stock is owned by company insiders.

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.