Canadian Imperial Bank of Commerce (TSE:CM) Given Consensus Rating of “Hold” by Brokerages

Canadian Imperial Bank of Commerce (TSE:CM) (NYSE:CM) has been given a consensus rating of “Hold” by the ten brokerages that are covering the stock, MarketBeat Ratings reports. Five equities research analysts have rated the stock with a hold recommendation. The average 1 year price target among brokerages that have updated their coverage on the stock in the last year is C$114.55.

A number of research analysts recently weighed in on the stock. CSFB lowered their price objective on shares of Canadian Imperial Bank of Commerce from C$106.00 to C$105.00 in a research report on Friday, September 6th. Canaccord Genuity set a C$112.50 target price on shares of Canadian Imperial Bank of Commerce in a research report on Monday, November 25th. Citigroup cut their target price on shares of Canadian Imperial Bank of Commerce from C$120.00 to C$115.00 in a research report on Monday, September 9th. Eight Capital decreased their target price on shares of Canadian Imperial Bank of Commerce from C$119.00 to C$107.00 in a research note on Wednesday, August 14th. Finally, Royal Bank of Canada lowered their price target on Canadian Imperial Bank of Commerce from C$128.00 to C$124.00 and set a “sector perform” rating on the stock in a report on Friday, August 23rd.

In related news, Director Katharine Berghuis Stevenson bought 4,000 shares of the firm’s stock in a transaction that occurred on Tuesday, September 17th. The shares were bought at an average cost of C$109.52 per share, with a total value of C$438,080.00. Following the acquisition, the director now owns 20,352 shares in the company, valued at C$2,228,951.04.

Shares of CM stock traded down C$0.87 during trading hours on Tuesday, reaching C$114.29. The company had a trading volume of 1,448,305 shares, compared to its average volume of 1,566,623. The business has a fifty day moving average price of C$113.54 and a 200-day moving average price of C$106.74. Canadian Imperial Bank of Commerce has a one year low of C$97.55 and a one year high of C$115.96. The firm has a market cap of $50.82 billion and a PE ratio of 10.02.

Canadian Imperial Bank of Commerce Company Profile

Canadian Imperial Bank of Commerce, a diversified financial institution, provides various financial products and services to personal, business, public sector, and institutional clients in Canada, the United States, and internationally. The company operates through four strategic business units: Canadian Personal and Small Business Banking; Canadian Commercial Banking and Wealth Management; U.S.

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Analyst Recommendations for Canadian Imperial Bank of Commerce (TSE:CM)

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