Canadian Imperial Bank of Commerce (TSE:CM) Stock Price Expected to Rise, Royal Bank Of Canada Analyst Says

Canadian Imperial Bank of Commerce (TSE:CM) (NYSE:CM) had its target price boosted by equities research analysts at Royal Bank Of Canada from C$134.00 to C$158.00 in a research note issued on Friday,BayStreet.CA reports. The brokerage presently has an “outperform” rating on the stock. Royal Bank Of Canada’s target price suggests a potential upside of 14.87% from the company’s previous close.

A number of other brokerages also recently issued reports on CM. National Bank Financial lifted their price target on shares of Canadian Imperial Bank of Commerce from C$131.00 to C$150.00 and gave the stock a “sector perform” rating in a research note on Friday. Desjardins increased their target price on Canadian Imperial Bank of Commerce from C$135.00 to C$139.00 and gave the company a “buy” rating in a report on Monday, February 9th. BMO Capital Markets lifted their price target on Canadian Imperial Bank of Commerce from C$135.00 to C$150.00 and gave the stock an “outperform” rating in a report on Friday. Canaccord Genuity Group raised their target price on Canadian Imperial Bank of Commerce from C$136.00 to C$145.00 and gave the stock a “hold” rating in a research report on Friday. Finally, Raymond James Financial upped their price target on Canadian Imperial Bank of Commerce from C$122.00 to C$135.00 and gave the company a “market perform” rating in a report on Tuesday, February 17th. Six analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of C$146.05.

Canadian Imperial Bank of Commerce Stock Down 3.0%

Canadian Imperial Bank of Commerce stock traded down C$4.29 during mid-day trading on Friday, reaching C$137.55. 1,618,844 shares of the company’s stock were exchanged, compared to its average volume of 2,555,776. Canadian Imperial Bank of Commerce has a twelve month low of C$76.17 and a twelve month high of C$143.80. The company has a market cap of C$127.46 billion, a P/E ratio of 16.05, a P/E/G ratio of 3.03 and a beta of 1.26. The company has a fifty day moving average of C$128.99 and a 200-day moving average of C$119.21.

Canadian Imperial Bank of Commerce (TSE:CM) (NYSE:CM) last announced its quarterly earnings data on Thursday, February 26th. The company reported C$2.76 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$8.40 billion for the quarter. Equities research analysts expect that Canadian Imperial Bank of Commerce will post 6.4127341 earnings per share for the current fiscal year.

Insider Transactions at Canadian Imperial Bank of Commerce

In other Canadian Imperial Bank of Commerce news, insider Frank Guse sold 5,000 shares of the 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 transaction, the insider directly owned 1,359 shares of the company’s stock, valued at approximately 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.