Canadian Imperial Bank of Commerce (TSE:CM) Price Target Raised to C$145.00 at Canaccord Genuity Group

Canadian Imperial Bank of Commerce (TSE:CM) (NYSE:CM) had its price objective hoisted by analysts at Canaccord Genuity Group from C$136.00 to C$145.00 in a research report issued to clients and investors on Friday,BayStreet.CA reports. The firm currently has a “hold” rating on the stock. Canaccord Genuity Group’s target price points to a potential upside of 5.42% from the company’s previous close.

Several other equities research analysts have also recently weighed in on CM. BMO Capital Markets upped their target price on Canadian Imperial Bank of Commerce from C$130.00 to C$135.00 in a research note on Wednesday, December 17th. TD Securities lifted their price objective on Canadian Imperial Bank of Commerce from C$134.00 to C$142.00 in a research note on Monday, February 9th. National Bank Financial increased their price target on Canadian Imperial Bank of Commerce from C$128.00 to C$131.00 and gave the stock a “sector perform” rating in a report on Tuesday, February 17th. Jefferies Financial Group upped their price target on Canadian Imperial Bank of Commerce from C$123.00 to C$127.00 in a research note on Wednesday, February 11th. Finally, Raymond James Financial lifted their price objective on shares of 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 issued a Hold rating to the stock. According to data from MarketBeat.com, Canadian Imperial Bank of Commerce presently has a consensus rating of “Moderate Buy” and a consensus 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, hitting 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 fifty-two week low of C$76.17 and a fifty-two week high of C$143.80. The company’s 50 day simple moving average is C$128.99 and its 200-day simple moving average is C$119.21. The firm has a market capitalization of C$127.46 billion, a P/E ratio of 16.05, a PEG ratio of 3.03 and a beta of 1.26.

Canadian Imperial Bank of Commerce (TSE:CM) (NYSE:CM) last released its 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 during the quarter. Canadian Imperial Bank of Commerce had a net margin of 27.87% and a return on equity of 12.61%. Research analysts expect that Canadian Imperial Bank of Commerce will post 6.4127341 EPS for the current year.

Insiders Place Their Bets

In related news, insider Frank Guse sold 5,000 shares of the stock in a transaction on Wednesday, December 24th. The stock was sold at an average price of C$127.16, for a total value of C$635,800.00. Following the sale, the insider owned 1,359 shares in the company, valued at approximately C$172,810.44. This represents a 78.63% decrease in their position. 0.02% of the stock is currently owned by company 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.