Canadian Imperial Bank of Commerce (TSE:CM) Given a C$170.00 Price Target by Desjardins Analysts

Canadian Imperial Bank of Commerce (TSE:CM) (NYSE:CM) has been given a C$170.00 target price by equities researchers at Desjardins in a note issued to investors on Wednesday, BayStreet reports. The firm currently has a “hold” rating on the stock. Desjardins‘s price objective would suggest a potential upside of 2.29% from the company’s current price.

Other equities research analysts also recently issued research reports about the company. Canaccord Genuity Group increased their price objective on Canadian Imperial Bank of Commerce from C$168.00 to C$169.00 and gave the company a “hold” rating in a report on Friday, August 28th. Royal Bank Of Canada raised their target price on shares of Canadian Imperial Bank of Commerce from C$167.00 to C$176.00 and gave the company an “outperform” rating in a research note on Friday, August 28th. Raymond James Financial boosted their target price on shares of Canadian Imperial Bank of Commerce from C$155.50 to C$173.50 and gave the stock a “market perform” rating in a report on Wednesday, August 12th. Keefe, Bruyette & Woods set a C$186.00 price target on shares of Canadian Imperial Bank of Commerce and gave the stock a “hold” rating in a research report on Friday, August 21st. Finally, National Bank Financial set a C$180.00 price target on shares of Canadian Imperial Bank of Commerce and gave the company a “sector perform” rating in a research note on Monday, August 24th. Five analysts have rated the stock with a Buy rating and seven have given a Hold rating to the stock. Based on data from MarketBeat.com, Canadian Imperial Bank of Commerce has an average rating of “Hold” and a consensus price target of C$167.79.

Canadian Imperial Bank of Commerce Stock Performance

CM traded up C$1.95 on Wednesday, hitting C$166.19. 543,351 shares of the company were exchanged, compared to its average volume of 2,468,036. The stock’s fifty day moving average is C$159.98 and its 200-day moving average is C$152.19. Canadian Imperial Bank of Commerce has a 12 month low of C$116.65 and a 12 month high of C$172.87. The company has a market cap of C$150.89 billion, a PE ratio of 15.95, a PEG ratio of 3.03 and a beta of 1.23.

Canadian Imperial Bank of Commerce (TSE:CM) (NYSE:CM) last posted its quarterly earnings results on Thursday, August 27th. The company reported C$2.73 earnings per share for the quarter. The firm had revenue of C$8.37 billion during the quarter. Canadian Imperial Bank of Commerce had a return on equity of 15.44% and a net margin of 16.13%. As a group, equities research analysts expect that Canadian Imperial Bank of Commerce will post 6.41 EPS for the current fiscal year.

Insider Transactions at Canadian Imperial Bank of Commerce

In other Canadian Imperial Bank of Commerce news, insider Amy Florence South sold 4,218 shares of the company’s stock in a transaction that occurred on Tuesday, September 22nd. The stock was sold at an average price of C$161.41, for a total value of C$680,827.38. 0.02% of the stock is owned by corporate insiders.

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, 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.