Canadian Imperial Bank of Commerce (TSE:CM) Stock Price Expected to Rise, National Bank Financial Analyst Says

Canadian Imperial Bank of Commerce (TSE:CM) (NYSE:CM) had its price objective raised by equities researchers at National Bank Financial from C$152.00 to C$180.00 in a note issued to investors on Thursday,BayStreet.CA reports. The brokerage currently has a “sector perform” rating on the stock. National Bank Financial’s target price indicates a potential upside of 5.48% from the company’s previous close.

Several other equities analysts have also recently issued reports on CM. Jefferies Financial Group boosted their price target on shares of Canadian Imperial Bank of Commerce from C$143.00 to C$153.00 and gave the company a “hold” rating in a research report on Thursday. Scotiabank lifted their price objective on Canadian Imperial Bank of Commerce from C$155.00 to C$157.00 and gave the company a “sector perform” rating in a research report on Tuesday, June 16th. TD upped their target price on Canadian Imperial Bank of Commerce from C$163.00 to C$175.00 and gave the stock a “buy” rating in a report on Wednesday. Canaccord Genuity Group increased their target price on Canadian Imperial Bank of Commerce from C$160.00 to C$168.00 and gave the stock a “hold” rating in a research report on Tuesday, July 7th. Finally, Desjardins cut Canadian Imperial Bank of Commerce from a “buy” rating to a “hold” rating and raised their target price for the company from C$160.00 to C$173.00 in a research note on Wednesday, August 5th. Five equities research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. Based on data from MarketBeat, Canadian Imperial Bank of Commerce has an average rating of “Hold” and an average price target of C$160.95.

Canadian Imperial Bank of Commerce Stock Up 1.2%

Shares of Canadian Imperial Bank of Commerce stock traded up C$2.02 on Thursday, hitting C$170.65. The stock had a trading volume of 446,712 shares, compared to its average volume of 2,535,068. Canadian Imperial Bank of Commerce has a one year low of C$100.43 and a one year high of C$171.64. The stock’s 50-day simple moving average is C$162.97 and its two-hundred day simple moving average is C$148.29. The stock has a market cap of C$155.77 billion, a price-to-earnings ratio of 16.93, a PEG ratio of 3.03 and a beta of 1.40.

Canadian Imperial Bank of Commerce (TSE:CM) (NYSE:CM) last released its quarterly earnings results on Thursday, May 28th. The company reported C$2.54 EPS for the quarter. Canadian Imperial Bank of Commerce had a return on equity of 15.24% and a net margin of 18.44%.The business had revenue of C$8.01 billion during the quarter. As a group, equities analysts predict that Canadian Imperial Bank of Commerce will post 6.4127341 EPS for the current fiscal year.

Insider Buying and Selling

In other Canadian Imperial Bank of Commerce news, insider Amy Florence South sold 1,086 shares of the company’s stock in a transaction dated Thursday, June 25th. The shares were sold at an average price of C$162.15, for a total value of C$176,094.90. Also, insider Stephen Alan Scholtz sold 6,000 shares of the company’s stock in a transaction dated Wednesday, June 24th. The stock was sold at an average price of C$162.70, for a total transaction of C$976,200.00. Insiders have sold 17,776 shares of company stock valued at $2,817,744 over the last quarter. Corporate insiders own 0.02% of the company’s stock.

About Canadian Imperial Bank of Commerce

CIBC is a leading North American financial institution with 15 million personal banking, business, public sector and institutional clients. Across Personal and Business Banking, Commercial Banking and Wealth Management, and Capital Markets, CIBC offers a full range of advice, solutions and services through its leading digital banking network, and locations across Canada, in the United States and around the world.