Canadian Imperial Bank of Commerce (TSE:CM) Stock Price Expected to Rise, Raymond James Financial Analyst Says

Canadian Imperial Bank of Commerce (TSE:CM) (NYSE:CM) had its target price lifted by research analysts at Raymond James Financial from C$122.00 to C$135.00 in a research report issued on Tuesday,BayStreet.CA reports. The brokerage currently has a “market perform” rating on the stock. Raymond James Financial’s target price points to a potential upside of 2.45% from the company’s current price.

Several other brokerages have also issued reports on CM. Canaccord Genuity Group lifted their price target on Canadian Imperial Bank of Commerce from C$129.00 to C$136.00 and gave the company a “hold” rating in a research note on Thursday, February 12th. Jefferies Financial Group increased their target price on shares of Canadian Imperial Bank of Commerce from C$123.00 to C$127.00 in a report on Wednesday, February 11th. Scotiabank upped their price objective on shares of Canadian Imperial Bank of Commerce from C$133.00 to C$138.00 in a research report on Friday, January 9th. Royal Bank Of Canada raised their target price 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 research report on Monday, January 5th. Finally, Barclays raised their price objective on Canadian Imperial Bank of Commerce from C$119.00 to C$126.00 in a report on Monday, December 8th. Four analysts have rated the stock with a Buy rating, four have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, Canadian Imperial Bank of Commerce currently has a consensus rating of “Hold” and an average price target of C$134.30.

Canadian Imperial Bank of Commerce Trading Up 1.0%

Shares of TSE:CM traded up C$1.26 on Tuesday, reaching C$131.77. 347,896 shares of the company’s stock were exchanged, compared to its average volume of 2,562,436. The company has a market capitalization of C$122.10 billion, a price-to-earnings ratio of 15.38, a PEG ratio of 3.03 and a beta of 1.26. The company has a fifty day moving average of C$127.64 and a 200-day moving average of C$117.45. Canadian Imperial Bank of Commerce has a twelve month low of C$76.17 and a twelve month high of C$133.80.

Canadian Imperial Bank of Commerce (TSE:CM) (NYSE:CM) last released its earnings results on Thursday, December 4th. The company reported C$2.21 earnings per share (EPS) for the quarter. The company had revenue of C$7.58 billion for the quarter. Canadian Imperial Bank of Commerce had a return on equity of 12.61% and a net margin of 27.87%. As a group, equities research analysts forecast that Canadian Imperial Bank of Commerce will post 6.4127341 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, insider Frank Guse sold 5,000 shares of Canadian Imperial Bank of Commerce stock in a transaction on Wednesday, December 24th. The shares were 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 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 corporate insiders.

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.