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

Canadian Imperial Bank of Commerce (TSE:CM) (NYSE:CM) had its target price hoisted by research analysts at Barclays from C$137.00 to C$141.00 in a report released on Monday,BayStreet.CA reports. Barclays‘s price target suggests a potential upside of 1.61% from the company’s current price.

CM has been the topic of a number of other research reports. Scotiabank raised their target price on Canadian Imperial Bank of Commerce from C$138.00 to C$153.00 and gave the company an “outperform” rating in a report on Friday. TD Securities raised their price objective on Canadian Imperial Bank of Commerce from C$142.00 to C$153.00 and gave the company a “buy” rating in a research note on Friday. National Bank Financial lifted their price objective 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 report on Friday. BMO Capital Markets increased their target price on shares of Canadian Imperial Bank of Commerce from C$135.00 to C$150.00 and gave the company an “outperform” rating in a report on Friday. Finally, Canaccord Genuity Group raised their price target on shares of Canadian Imperial Bank of Commerce from C$136.00 to C$145.00 and gave the company a “hold” rating in a research report on Friday. Six equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of C$146.45.

Canadian Imperial Bank of Commerce Price Performance

Shares of TSE:CM traded up C$0.97 during midday trading on Monday, hitting C$138.76. 740,947 shares of the company’s stock were exchanged, compared to its average volume of 2,570,205. Canadian Imperial Bank of Commerce has a 12 month low of C$76.17 and a 12 month high of C$143.80. The company has a market cap of C$128.58 billion, a PE ratio of 16.19, a price-to-earnings-growth ratio of 3.03 and a beta of 1.26. The stock has a 50 day moving average price of C$129.18 and a 200-day moving average price of C$119.74.

Canadian Imperial Bank of Commerce (TSE:CM) (NYSE:CM) last announced its quarterly earnings results on Thursday, February 26th. The company reported C$2.76 earnings per share for the quarter. The business had revenue of C$8.40 billion for the quarter. Canadian Imperial Bank of Commerce had a net margin of 27.87% and a return on equity of 12.61%. On average, analysts anticipate that Canadian Imperial Bank of Commerce will post 6.4127341 EPS for the current fiscal year.

Insider Buying and Selling

In other news, insider Frank Guse sold 5,000 shares of the stock in a transaction that occurred 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 directly owned 1,359 shares of the company’s stock, valued at C$172,810.44. This represents a 78.63% decrease in their position. Corporate insiders own 0.02% of the company’s stock.

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.