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 price target raised by research analysts at Canaccord Genuity Group from C$81.00 to C$92.00 in a research note issued to investors on Tuesday,BayStreet.CA reports. Canaccord Genuity Group’s target price would suggest a potential upside of 2.59% from the company’s current price.

A number of other research firms also recently issued reports on CM. BMO Capital Markets increased their price target on Canadian Imperial Bank of Commerce from C$81.00 to C$99.00 in a research report on Monday. Barclays raised their price objective on Canadian Imperial Bank of Commerce from C$71.00 to C$77.00 and gave the company an “underweight” rating in a research report on Friday, August 30th. Cormark raised Canadian Imperial Bank of Commerce from a “market perform” rating to a “buy” rating and raised their price objective for the company from C$75.00 to C$83.00 in a research report on Friday, August 30th. National Bankshares raised their price objective on Canadian Imperial Bank of Commerce from C$78.00 to C$86.00 and gave the company an “outperform” rating in a research report on Friday, August 30th. Finally, Royal Bank of Canada increased their price target on Canadian Imperial Bank of Commerce from C$69.00 to C$74.00 and gave the company a “sector perform” rating in a research note on Friday, August 30th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and eight have issued a buy rating to the stock. According to MarketBeat.com, Canadian Imperial Bank of Commerce presently has a consensus rating of “Moderate Buy” and a consensus price target of C$82.38.

Canadian Imperial Bank of Commerce Stock Performance

Canadian Imperial Bank of Commerce stock traded down C$0.04 during mid-day trading on Tuesday, hitting C$89.68. The company’s stock had a trading volume of 497,628 shares, compared to its average volume of 3,691,345. The company has a 50 day moving average of C$84.81 and a 200-day moving average of C$73.93. The stock has a market cap of C$84.74 billion, a PE ratio of 12.98, a P/E/G ratio of 3.03 and a beta of 1.12. Canadian Imperial Bank of Commerce has a one year low of C$51.60 and a one year high of C$90.57.

Canadian Imperial Bank of Commerce (TSE:CM) (NYSE:CM) last announced its quarterly earnings data on Thursday, August 29th. The company reported C$1.93 EPS for the quarter, beating the consensus estimate 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 company had revenue of C$6.60 billion for the quarter, compared to the consensus estimate of C$6.31 billion. On average, equities research analysts forecast that Canadian Imperial Bank of Commerce will post 6.4127341 EPS for the current fiscal year.

Insider Transactions at Canadian Imperial Bank of Commerce

In other Canadian Imperial Bank of Commerce news, Senior Officer Christina Charlotte Kramer sold 37,022 shares of Canadian Imperial Bank of Commerce stock in a transaction on Monday, September 16th. The stock was sold at an average price of C$83.40, for a total value of C$3,087,634.80. Also, Senior Officer Shawn Beber sold 10,000 shares of the business’s stock in a transaction on Tuesday, September 10th. The shares were sold at an average price of C$81.80, for a total value of C$817,960.00. Insiders have sold 203,057 shares of company stock valued at $16,823,249 over the last ninety days. 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.