Canadian Imperial Bank of Commerce (TSE:CM) Given New C$114.00 Price Target at Scotiabank

Canadian Imperial Bank of Commerce (TSE:CM) (NYSE:CM) had its price target lifted by equities research analysts at Scotiabank from C$108.00 to C$114.00 in a note issued to investors on Friday,BayStreet.CA reports. Scotiabank’s target price suggests a potential upside of 21.77% from the company’s current price.

A number of other equities research analysts have also recently commented on the stock. TD Securities upped their target price on shares of Canadian Imperial Bank of Commerce from C$91.00 to C$98.00 in a report on Friday, November 15th. BMO Capital Markets raised their price objective on Canadian Imperial Bank of Commerce from C$81.00 to C$99.00 in a research report on Monday, November 18th. Royal Bank of Canada lifted their price objective 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 report on Friday, August 30th. Jefferies Financial Group dropped their target price on Canadian Imperial Bank of Commerce from C$79.00 to C$78.00 and set a “buy” rating on the stock in a research report on Monday, August 12th. Finally, Cormark raised shares of Canadian Imperial Bank of Commerce from a “market perform” rating to a “buy” rating and raised their target price for the company from C$75.00 to C$83.00 in a research note on Friday, August 30th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of C$90.00.

Canadian Imperial Bank of Commerce Price Performance

CM traded up C$0.08 during trading hours on Friday, reaching C$93.62. The company’s stock had a trading volume of 2,006,292 shares, compared to its average volume of 3,703,883. The stock has a market cap of C$88.47 billion, a PE ratio of 13.55, a P/E/G ratio of 3.03 and a beta of 1.12. Canadian Imperial Bank of Commerce has a fifty-two week low of C$57.52 and a fifty-two week high of C$94.81. The business’s 50-day moving average is C$86.88 and its 200-day moving average is C$76.03.

Insider Activity

In related news, Senior Officer Shawn Beber sold 10,000 shares of the company’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 value of C$817,960.00. Also, Director Harry Kenneth Culham sold 50,000 shares of the firm’s stock in a transaction that occurred on Monday, September 9th. The stock was sold at an average price of C$81.87, for a total transaction of C$4,093,500.00. In the last ninety days, insiders sold 197,527 shares of company stock worth $16,381,457. 0.02% of the stock is currently owned by corporate insiders.

About Canadian Imperial Bank of Commerce

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.