Canadian Imperial Bank of Commerce (TSE:CM) Given New C$173.50 Price Target at Raymond James Financial

Canadian Imperial Bank of Commerce (TSE:CM) (NYSE:CM) had its price objective upped by investment analysts at Raymond James Financial from C$155.50 to C$173.50 in a report released on Wednesday,BayStreet.CA reports. The firm currently has a “market perform” rating on the stock. Raymond James Financial’s price objective indicates a potential upside of 2.96% from the stock’s current price.

Other analysts also recently issued reports about the company. Scotiabank lifted their price objective on Canadian Imperial Bank of Commerce from C$155.00 to C$157.00 and gave the company a “sector perform” rating in a report on Tuesday, June 16th. Canaccord Genuity Group increased their target price on shares of Canadian Imperial Bank of Commerce from C$160.00 to C$168.00 and gave the stock a “hold” rating in a report on Tuesday, July 7th. Jefferies Financial Group raised their target price on shares of Canadian Imperial Bank of Commerce from C$136.00 to C$143.00 in a research report on Wednesday, May 20th. TD boosted their price target on shares of Canadian Imperial Bank of Commerce from C$163.00 to C$175.00 and gave the company a “buy” rating in a report on Wednesday. Finally, National Bank Financial upped their price target on shares of Canadian Imperial Bank of Commerce from C$150.00 to C$152.00 and gave the stock a “sector perform” rating in a research report on Friday, May 15th. Five equities research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of C$157.50.

Canadian Imperial Bank of Commerce Stock Performance

CM traded up C$2.87 during trading on Wednesday, hitting C$168.51. 576,846 shares of the stock were exchanged, compared to its average volume of 2,535,970. The firm has a 50 day simple moving average of C$162.59 and a 200 day simple moving average of C$148.00. The firm has a market cap of C$153.82 billion, a price-to-earnings ratio of 16.72, a P/E/G ratio of 3.03 and a beta of 1.40. Canadian Imperial Bank of Commerce has a 1 year low of C$100.43 and a 1 year high of C$171.64.

Canadian Imperial Bank of Commerce (TSE:CM) (NYSE:CM) last issued its earnings results on Thursday, May 28th. The company reported C$2.54 earnings per share for the quarter. Canadian Imperial Bank of Commerce had a return on equity of 15.24% and a net margin of 18.44%.The business had revenue of C$8.01 billion during the quarter. As a group, equities analysts anticipate that Canadian Imperial Bank of Commerce will post 6.4127341 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Canadian Imperial Bank of Commerce news, insider Amy Florence South sold 1,086 shares of Canadian Imperial Bank of Commerce stock in a transaction dated Thursday, June 25th. The stock was sold at an average price of C$162.15, for a total value of C$176,094.90. Also, insider Stephen Alan Scholtz sold 6,000 shares of the business’s stock in a transaction dated Wednesday, June 24th. The stock was sold at an average price of C$162.70, for a total transaction of C$976,200.00. Insiders sold 17,776 shares of company stock worth $2,817,744 in the last three months. 0.02% of the stock is owned by insiders.

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.