TD Securities Has Lowered Expectations for Canadian Imperial Bank of Commerce (TSE:CM) Stock Price

Canadian Imperial Bank of Commerce (TSE:CM) (NYSE:CM) had its price objective lowered by TD Securities from C$100.00 to C$99.00 in a note issued to investors on Friday,BayStreet.CA reports. The firm currently has a “buy” rating on the stock. TD Securities’ price target would suggest a potential upside of 14.23% from the company’s previous close.

Other equities analysts have also recently issued reports about the stock. Canaccord Genuity Group raised their target price on shares of Canadian Imperial Bank of Commerce from C$92.00 to C$99.00 in a research note on Friday, December 6th. Royal Bank of Canada upped their price objective on Canadian Imperial Bank of Commerce from C$103.00 to C$108.00 in a research note on Friday. BMO Capital Markets increased their price target on Canadian Imperial Bank of Commerce from C$81.00 to C$99.00 in a research note on Monday, November 18th. Scotiabank reduced their target price on shares of Canadian Imperial Bank of Commerce from C$114.00 to C$95.00 and set an “outperform” rating for the company in a report on Thursday, February 20th. Finally, Cormark increased their price target on shares of Canadian Imperial Bank of Commerce from C$99.00 to C$104.00 in a report on Friday, December 6th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat.com, Canadian Imperial Bank of Commerce has an average rating of “Moderate Buy” and a consensus price target of C$93.50.

Canadian Imperial Bank of Commerce Stock Performance

CM traded up C$0.24 during midday trading on Friday, hitting C$86.67. The company had a trading volume of 875,527 shares, compared to its average volume of 3,141,765. The company has a market capitalization of C$81.09 billion, a PE ratio of 11.45, a P/E/G ratio of 3.03 and a beta of 1.12. Canadian Imperial Bank of Commerce has a twelve month low of C$63.20 and a twelve month high of C$95.50. The firm’s 50-day simple moving average is C$89.81 and its 200-day simple moving average is C$85.73.

Insider Buying and Selling at Canadian Imperial Bank of Commerce

In other news, Director Victor George Dodig sold 150,000 shares of Canadian Imperial Bank of Commerce stock in a transaction on Tuesday, December 10th. The stock was sold at an average price of C$94.22, for a total transaction of C$14,132,865.00. Also, Senior Officer Robert Sedran sold 20,652 shares of the stock in a transaction that occurred on Thursday, December 12th. The shares were sold at an average price of C$94.97, for a total transaction of C$1,961,227.51. In the last three months, insiders have sold 177,012 shares of company stock worth $16,687,218. Corporate insiders own 0.02% of the company’s stock.

Canadian Imperial Bank of Commerce Company Profile

Canadian Imperial Bank of Commerce is Canada’s fifth- largest bank, operating three business segments: retail and business banking, wealth management, and capital markets. It serves approximately 11 million personal banking and business customers, primarily in Canada.