Canadian Imperial Bank of Commerce (TSE:CM) Price Target Raised to C$136.00 at Canaccord Genuity Group

Canadian Imperial Bank of Commerce (TSE:CM) (NYSE:CM) had its price objective hoisted by stock analysts at Canaccord Genuity Group from C$129.00 to C$136.00 in a research note issued to investors on Thursday,BayStreet.CA reports. The brokerage currently has a “hold” rating on the stock. Canaccord Genuity Group’s price target would indicate a potential upside of 4.99% from the company’s previous close.

Several other analysts have also recently weighed in on CM. Desjardins upped their price objective on shares of Canadian Imperial Bank of Commerce from C$135.00 to C$139.00 and gave the stock a “buy” rating in a research note on Monday. Royal Bank Of Canada boosted their target price on Canadian Imperial Bank of Commerce from C$131.00 to C$134.00 and gave the stock an “outperform” rating in a report on Monday, January 5th. Raymond James Financial raised their price target on Canadian Imperial Bank of Commerce from C$127.00 to C$132.00 and gave the company a “market perform” rating in a report on Friday, December 5th. TD Securities boosted their price objective on Canadian Imperial Bank of Commerce from C$134.00 to C$142.00 in a research note on Monday. Finally, Barclays lifted their price target on Canadian Imperial Bank of Commerce from C$119.00 to C$126.00 in a report on Monday, December 8th. Four investment analysts have rated the stock with a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, Canadian Imperial Bank of Commerce has a consensus rating of “Hold” and an average price target of C$130.27.

Canadian Imperial Bank of Commerce Stock Performance

Shares of TSE:CM traded down C$2.05 during trading on Thursday, hitting C$129.54. 916,553 shares of the stock were exchanged, compared to its average volume of 2,578,602. The company has a market capitalization of C$120.03 billion, a price-to-earnings ratio of 15.12, a price-to-earnings-growth ratio of 3.03 and a beta of 1.26. Canadian Imperial Bank of Commerce has a 1-year low of C$76.17 and a 1-year high of C$133.80. The company’s fifty day simple moving average is C$127.37 and its 200-day simple moving average is C$116.69.

Canadian Imperial Bank of Commerce (TSE:CM) (NYSE:CM) last issued its earnings results on Thursday, December 4th. The company reported C$2.21 earnings per share (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 during the quarter. On average, research analysts forecast that Canadian Imperial Bank of Commerce will post 6.4127341 earnings per share for the current fiscal year.

Insider Buying and Selling at Canadian Imperial Bank of Commerce

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