Canadian Imperial Bank of Commerce (TSE:CM) Stock Price Expected to Rise, Canaccord Genuity Group Analyst Says

Canadian Imperial Bank of Commerce (TSE:CM) (NYSE:CM) had its target price lifted by Canaccord Genuity Group from C$81.00 to C$92.00 in a research note issued on Tuesday,BayStreet.CA reports. Canaccord Genuity Group’s price target would indicate a potential upside of 2.59% from the company’s current price.

Other research analysts also recently issued research reports about the stock. BMO Capital Markets upped their price objective on shares of Canadian Imperial Bank of Commerce from C$81.00 to C$99.00 in a report on Monday. Royal Bank of Canada increased their target price on shares of Canadian Imperial Bank of Commerce from C$69.00 to C$74.00 and gave the stock a “sector perform” rating in a research report on Friday, August 30th. Bank of America upgraded shares of Canadian Imperial Bank of Commerce from a “neutral” rating to a “buy” rating and increased their target price for the stock from C$74.00 to C$90.00 in a research report on Friday, August 30th. Desjardins raised their target price on shares of Canadian Imperial Bank of Commerce from C$77.00 to C$83.00 and gave the company a “buy” rating in a research note on Friday, August 30th. Finally, Scotiabank increased their price target on shares of Canadian Imperial Bank of Commerce from C$77.00 to C$85.00 and gave the company an “outperform” rating in a research report on Friday, August 30th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of C$82.38.

Canadian Imperial Bank of Commerce Trading Down 0.0 %

Canadian Imperial Bank of Commerce stock traded down C$0.04 during trading hours on Tuesday, reaching C$89.68. 497,628 shares of the stock were exchanged, compared to its average volume of 3,691,345. The company has a market cap of C$84.74 billion, a P/E ratio of 12.98, a price-to-earnings-growth ratio of 3.03 and a beta of 1.12. Canadian Imperial Bank of Commerce has a twelve month low of C$51.60 and a twelve month high of C$90.57. The stock has a 50 day moving average of C$84.81 and a two-hundred day moving average of C$73.93.

Canadian Imperial Bank of Commerce (TSE:CM) (NYSE:CM) last posted its quarterly earnings results on Thursday, August 29th. The company reported C$1.93 earnings per share for the quarter, beating analysts’ consensus estimates of C$1.75 by C$0.18. Canadian Imperial Bank of Commerce had a net margin of 29.56% and a return on equity of 12.37%. The company had revenue of C$6.60 billion for the quarter, compared to the consensus estimate of C$6.31 billion. On average, analysts expect that Canadian Imperial Bank of Commerce will post 6.4127341 earnings per share for the current fiscal year.

Insider Buying and Selling at Canadian Imperial Bank of Commerce

In related news, Senior Officer Shawn Beber sold 10,000 shares of the business’s stock in a transaction that occurred on Tuesday, September 10th. The stock was sold at an average price of C$81.80, for a total transaction of C$817,960.00. Also, Senior Officer Sandy Sharman sold 2,275 shares of the business’s stock in a transaction that occurred on Thursday, September 12th. The shares were sold at an average price of C$83.04, for a total value of C$188,916.00. Insiders sold a total of 203,057 shares of company stock worth $16,823,249 in the last three months. 0.02% of the stock is currently owned by company insiders.

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 Canadian Personal and Business Banking; Canadian Commercial Banking and Wealth Management; U.S.