Canadian Imperial Bank of Commerce (TSE:CM) Price Target Raised to C$98.00 at TD Securities

Canadian Imperial Bank of Commerce (TSE:CM) (NYSE:CM) had its price target boosted by research analysts at TD Securities from C$91.00 to C$98.00 in a research note issued on Friday,BayStreet.CA reports. TD Securities’ price objective points to a potential upside of 10.40% from the stock’s current price.

CM has been the subject of a number of other reports. Cormark upgraded shares of Canadian Imperial Bank of Commerce from a “market perform” rating to a “buy” rating and lifted their price objective for the company from C$75.00 to C$83.00 in a 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 boosted their target price for the company from C$74.00 to C$90.00 in a research note on Friday, August 30th. Desjardins boosted their price target 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 report on Friday, August 30th. Royal Bank of Canada boosted their price target on shares of Canadian Imperial Bank of Commerce from C$69.00 to C$74.00 and gave the company a “sector perform” rating in a research report on Friday, August 30th. Finally, Scotiabank upped their target price on shares of Canadian Imperial Bank of Commerce from C$77.00 to C$85.00 and gave the stock an “outperform” rating in a 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 assigned a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of C$79.69.

Canadian Imperial Bank of Commerce Trading Down 1.2 %

Canadian Imperial Bank of Commerce stock traded down C$1.07 during mid-day trading on Friday, reaching C$88.77. The company had a trading volume of 1,366,557 shares, compared to its average volume of 3,702,109. Canadian Imperial Bank of Commerce has a fifty-two week low of C$51.60 and a fifty-two week high of C$90.57. The company has a market cap of C$83.88 billion, a P/E ratio of 12.86, a P/E/G ratio of 3.03 and a beta of 1.12. The business has a fifty day simple moving average of C$84.59 and a 200 day simple moving average of C$73.71.

Canadian Imperial Bank of Commerce (TSE:CM) (NYSE:CM) last issued its quarterly earnings results on Thursday, August 29th. The company reported C$1.93 EPS for the quarter, topping 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 analyst estimates of C$6.31 billion. Research analysts forecast that Canadian Imperial Bank of Commerce will post 6.4127341 EPS for the current year.

Insider Buying and Selling at Canadian Imperial Bank of Commerce

In related news, Senior Officer Christina Charlotte Kramer sold 37,022 shares of the stock in a transaction dated Monday, September 16th. The shares were sold at an average price of C$83.40, for a total value of C$3,087,634.80. Also, Director Harry Kenneth Culham sold 50,000 shares of the stock in a transaction dated 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. Insiders sold 203,057 shares of company stock valued at $16,823,249 in the last quarter. 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.