Canadian Imperial Bank of Commerce (TSE:CM) Given New C$168.00 Price Target at Canaccord Genuity Group

Canadian Imperial Bank of Commerce (TSE:CM) (NYSE:CM) had its price objective hoisted by equities researchers at Canaccord Genuity Group from C$160.00 to C$168.00 in a research note issued to investors on Tuesday,BayStreet.CA reports. The firm presently has a “hold” rating on the stock. Canaccord Genuity Group’s target price indicates a potential upside of 1.84% from the company’s current price.

Other equities research analysts have also recently issued reports about the company. Raymond James Financial dropped their price objective on Canadian Imperial Bank of Commerce from C$157.50 to C$155.50 and set a “market perform” rating on the stock in a research report on Friday, May 29th. Royal Bank Of Canada dropped their price target on shares of Canadian Imperial Bank of Commerce from C$158.00 to C$147.00 and set an “outperform” rating on the stock in a report on Wednesday, March 25th. National Bank Financial lifted 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 note on Friday, May 15th. Scotiabank increased their price objective on shares of Canadian Imperial Bank of Commerce from C$155.00 to C$157.00 and gave the company a “sector perform” rating in a research report on Tuesday, June 16th. Finally, Desjardins increased their price objective on shares of Canadian Imperial Bank of Commerce from C$152.00 to C$160.00 and gave the company a “buy” rating in a research report on Tuesday, May 5th. Six investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of C$153.59.

Canadian Imperial Bank of Commerce Stock Performance

Shares of TSE:CM traded up C$1.20 during trading on Tuesday, reaching C$164.97. 764,926 shares of the stock traded hands, compared to its average volume of 2,571,612. The stock has a market cap of C$150.58 billion, a P/E ratio of 16.37, a price-to-earnings-growth ratio of 3.03 and a beta of 1.39. The stock has a 50-day moving average of C$155.46 and a two-hundred day moving average of C$140.52. Canadian Imperial Bank of Commerce has a 52-week low of C$97.31 and a 52-week high of C$165.00.

Canadian Imperial Bank of Commerce (TSE:CM) (NYSE:CM) last released its quarterly earnings data on Thursday, May 28th. The company reported C$2.54 earnings per share (EPS) 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 for the quarter. Sell-side analysts expect that Canadian Imperial Bank of Commerce will post 6.4127341 earnings per share for the current year.

Insider Transactions at Canadian Imperial Bank of Commerce

In related news, insider Christopher John Anderson sold 8,490 shares of the business’s stock in a transaction that occurred on Thursday, June 11th. The shares were sold at an average price of C$155.50, for a total transaction of C$1,320,195.00. Following the completion of the sale, the insider directly owned 6,252 shares in the company, valued at approximately C$972,186. The trade was a 57.59% decrease in their ownership of the stock. Also, insider Amy Florence South sold 1,200 shares of the company’s stock in a transaction that occurred on Monday, June 22nd. The shares were sold at an average price of C$160.92, for a total transaction of C$193,104.00. Insiders have sold 17,776 shares of company stock worth $2,817,744 in the last quarter. Company 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.