Canadian Imperial Bank of Commerce (TSE:CM) PT Lowered to C$91.00

Canadian Imperial Bank of Commerce (TSE:CM) (NYSE:CM) had its price objective dropped by equities researchers at TD Securities from C$93.00 to C$91.00 in a note issued to investors on Friday, BayStreet.CA reports. The firm presently has a “buy” rating on the stock. TD Securities’ target price indicates a potential upside of 15.92% from the company’s current price.

CM has been the subject of a number of other research reports. Jefferies Financial Group dropped their price target on shares of Canadian Imperial Bank of Commerce from C$79.00 to C$78.00 and set a “buy” rating for the company in a research note on Monday, August 12th. Canaccord Genuity Group boosted their price objective on Canadian Imperial Bank of Commerce from C$74.00 to C$75.00 in a report on Tuesday, August 13th. Royal Bank of Canada lifted their target price on 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. Scotiabank upped their price target on 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. Finally, UBS Group set a C$70.00 target price on shares of Canadian Imperial Bank of Commerce and gave the company a “neutral” rating in a research note on Tuesday, July 2nd. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and eight have given a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of C$77.50.

Canadian Imperial Bank of Commerce Stock Performance

Canadian Imperial Bank of Commerce stock traded up C$0.95 during trading on Friday, reaching C$78.50. 1,833,198 shares of the company’s stock were exchanged, compared to its average volume of 3,686,590. Canadian Imperial Bank of Commerce has a 52-week low of C$47.44 and a 52-week high of C$79.62. The company’s 50-day moving average is C$69.01 and its two-hundred day moving average is C$67.04. The firm has a market cap of C$74.03 billion, a price-to-earnings ratio of 12.02, a PEG ratio of 3.01 and a beta of 1.12.

Canadian Imperial Bank of Commerce (TSE:CM) (NYSE:CM) last posted its earnings results on Thursday, May 30th. The company reported C$1.75 EPS for the quarter, topping analysts’ consensus estimates of C$1.66 by C$0.09. The business had revenue of C$6.16 billion for the quarter, compared to analysts’ expectations of C$6.11 billion. Canadian Imperial Bank of Commerce had a net margin of 29.25% and a return on equity of 11.92%. Analysts anticipate that Canadian Imperial Bank of Commerce will post 7.3207171 EPS for the current year.

Insiders Place Their Bets

In related news, Senior Officer John Hountalas sold 20,808 shares of the stock in a transaction dated Monday, June 24th. The stock was sold at an average price of C$65.97, for a total value of C$1,372,672.55. In other Canadian Imperial Bank of Commerce news, Senior Officer Christina Charlotte Kramer sold 23,782 shares of the firm’s stock in a transaction dated Friday, June 7th. The stock was sold at an average price of C$67.50, for a total transaction of C$1,605,285.00. Also, Senior Officer John Hountalas sold 20,808 shares of the company’s stock in a transaction dated Monday, June 24th. The stock was sold at an average price of C$65.97, for a total value of C$1,372,672.55. Corporate 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.