BMO Capital Markets Increases Canadian Imperial Bank of Commerce (TSE:CM) Price Target to C$81.00

Canadian Imperial Bank of Commerce (TSE:CM) (NYSE:CM) had its target price lifted by equities researchers at BMO Capital Markets from C$77.00 to C$81.00 in a research note issued to investors on Friday, BayStreet.CA reports. The brokerage currently has an “outperform” rating on the stock. BMO Capital Markets’ price target points to a potential upside of 3.18% from the company’s current price.

Other research analysts have also issued reports about the stock. Canaccord Genuity Group raised their target price on shares of Canadian Imperial Bank of Commerce from C$74.00 to C$75.00 in a research note on Tuesday, August 13th. Desjardins boosted their price objective on Canadian Imperial Bank of Commerce from C$77.00 to C$83.00 and gave the stock a “buy” rating in a research report on Friday. Jefferies Financial Group lowered their target price on Canadian Imperial Bank of Commerce from C$79.00 to C$78.00 and set a “buy” rating on the stock in a report on Monday, August 12th. Keefe, Bruyette & Woods upgraded Canadian Imperial Bank of Commerce from a “hold” rating to a “moderate buy” rating in a report on Monday, June 3rd. Finally, UBS Group set a C$70.00 price objective on shares of Canadian Imperial Bank of Commerce and gave the stock a “neutral” rating in a research note on Tuesday, July 2nd. One research analyst has rated the stock with a sell rating, four have given a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of C$77.50.

Canadian Imperial Bank of Commerce Stock Up 1.2 %

Canadian Imperial Bank of Commerce stock traded up C$0.95 during midday trading on Friday, hitting C$78.50. The company’s stock had a trading volume of 1,833,198 shares, compared to its average volume of 3,686,590. The stock’s 50-day moving average price is C$69.01 and its 200-day moving average price is C$67.04. The company has a market capitalization of C$74.03 billion, a PE ratio of 11.98, a price-to-earnings-growth ratio of 3.01 and a beta of 1.12. Canadian Imperial Bank of Commerce has a 12 month low of C$47.44 and a 12 month high of C$79.62.

Canadian Imperial Bank of Commerce (TSE:CM) (NYSE:CM) last released its quarterly earnings data on Thursday, May 30th. The company reported C$1.75 EPS for the quarter, topping 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 firm had revenue of C$6.16 billion for the quarter, compared to the consensus estimate of C$6.11 billion. As a group, equities analysts anticipate that Canadian Imperial Bank of Commerce will post 7.3207171 EPS for the current year.

Insider Transactions at Canadian Imperial Bank of Commerce

In other Canadian Imperial Bank of Commerce news, Senior Officer John Hountalas sold 20,808 shares of Canadian Imperial Bank of Commerce stock in a transaction on 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. In other news, Senior Officer John Hountalas sold 20,808 shares of the firm’s stock in a transaction on 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 Canadian Imperial Bank of Commerce stock in a transaction dated Friday, June 7th. The shares were 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.

About Canadian Imperial Bank of Commerce

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.