Canadian Imperial Bank of Commerce (TSE:CM – Get Free Report) (NYSE:CM) had its target price increased by equities research analysts at Scotiabank from C$77.00 to C$85.00 in a report issued on Friday, BayStreet.CA reports. The brokerage currently has an “outperform” rating on the stock. Scotiabank’s price objective would suggest a potential upside of 8.28% from the stock’s current price.
Other equities analysts have also issued research reports about the company. Keefe, Bruyette & Woods raised Canadian Imperial Bank of Commerce from a “hold” rating to a “moderate buy” rating in a research note on Monday, June 3rd. Barclays raised their price objective on shares of Canadian Imperial Bank of Commerce from C$71.00 to C$77.00 and gave the company an “underweight” rating in a research note on Friday. National Bankshares upped their target price on shares of Canadian Imperial Bank of Commerce from C$76.00 to C$78.00 and gave the stock an “outperform” rating in a research note on Friday, May 31st. Cormark set a C$72.00 price target on shares of Canadian Imperial Bank of Commerce and gave the company a “market perform” rating in a research report on Tuesday, August 20th. Finally, Canaccord Genuity Group upped their price objective on Canadian Imperial Bank of Commerce from C$74.00 to C$75.00 in a research report on Tuesday, August 13th. One research analyst has rated the stock with a sell rating, four have given a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of C$77.50.
Read Our Latest Stock Report on Canadian Imperial Bank of Commerce
Canadian Imperial Bank of Commerce Stock Performance
Canadian Imperial Bank of Commerce (TSE:CM – Get Free Report) (NYSE:CM) last announced its earnings results on Thursday, May 30th. The company reported C$1.75 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of C$1.66 by C$0.09. Canadian Imperial Bank of Commerce had a return on equity of 11.92% and a net margin of 29.25%. The company had revenue of C$6.16 billion for the quarter, compared to analyst estimates of C$6.11 billion. As a group, sell-side analysts predict that Canadian Imperial Bank of Commerce will post 7.3207171 EPS for the current year.
Insider Buying and Selling
In other news, Senior Officer John Hountalas sold 20,808 shares of the company’s stock in a transaction on Monday, June 24th. The shares were sold at an average price of C$65.97, for a total value of C$1,372,672.55. In related news, 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. Also, Senior Officer Christina Charlotte Kramer sold 23,782 shares of the firm’s stock in a transaction that occurred on Friday, June 7th. The stock was sold at an average price of C$67.50, for a total value of C$1,605,285.00. 0.02% of the stock is owned by company insiders.
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.
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