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

Canadian Imperial Bank of Commerce (TSE:CM) (NYSE:CM) had its price target upped by equities researchers at Scotiabank from C$85.00 to C$108.00 in a research report issued to clients and investors on Monday,BayStreet.CA reports. Scotiabank’s price objective points to a potential upside of 17.90% from the company’s current price.

A number of other brokerages have also issued reports on CM. Cormark raised Canadian Imperial Bank of Commerce from a “market perform” rating to a “buy” rating and lifted their target price for the stock from C$75.00 to C$83.00 in a research report on Friday, August 30th. National Bankshares lifted their target price on Canadian Imperial Bank of Commerce from C$86.00 to C$94.00 in a research note on Wednesday, November 20th. TD Securities lifted their target price on Canadian Imperial Bank of Commerce from C$91.00 to C$98.00 in a research note on Friday, November 15th. Barclays lifted their target price on Canadian Imperial Bank of Commerce from C$71.00 to C$77.00 and gave the company an “underweight” rating in a research note on Friday, August 30th. Finally, Desjardins lifted their target price on 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. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of C$87.17.

Canadian Imperial Bank of Commerce Stock Up 0.1 %

Shares of CM traded up C$0.12 on Monday, reaching C$91.60. The stock had a trading volume of 830,509 shares, compared to its average volume of 3,670,358. The firm has a market capitalization of C$86.56 billion, a PE ratio of 13.23, a PEG ratio of 3.03 and a beta of 1.12. The firm has a 50-day moving average of C$85.69 and a 200 day moving average of C$74.65. Canadian Imperial Bank of Commerce has a twelve month low of C$51.60 and a twelve month high of C$92.17.

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

Insider Activity at Canadian Imperial Bank of Commerce

In related news, Director Harry Kenneth Culham sold 800 shares of the firm’s stock in a transaction that occurred on Monday, September 30th. The shares were sold at an average price of C$83.20, for a total value of C$66,560.00. Also, Senior Officer Sandy Sharman sold 2,275 shares of the firm’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 transaction of C$188,916.00. Over the last 90 days, insiders sold 203,057 shares of company stock worth $16,823,249. Company insiders own 0.02% of the company’s stock.

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.