Canaccord Genuity Group Raises Canadian Imperial Bank of Commerce (TSE:CM) Price Target to C$136.00

Canadian Imperial Bank of Commerce (TSE:CM) (NYSE:CM) had its target price increased by stock analysts at Canaccord Genuity Group from C$129.00 to C$136.00 in a research note issued on Thursday,BayStreet.CA reports. The firm currently has a “hold” rating on the stock. Canaccord Genuity Group’s price objective would indicate a potential upside of 4.99% from the stock’s previous close.

CM has been the topic of several other reports. Desjardins boosted their target price on Canadian Imperial Bank of Commerce from C$135.00 to C$139.00 and gave the stock a “buy” rating in a report on Monday. National Bank Financial boosted their price target on shares of Canadian Imperial Bank of Commerce from C$121.00 to C$128.00 and gave the company a “sector perform” rating in a research report on Friday, December 5th. Scotiabank raised their price objective on Canadian Imperial Bank of Commerce from C$133.00 to C$138.00 in a report on Friday, January 9th. Raymond James Financial upped their target price on Canadian Imperial Bank of Commerce from C$127.00 to C$132.00 and gave the company a “market perform” rating in a research report on Friday, December 5th. Finally, Barclays boosted their price objective on Canadian Imperial Bank of Commerce from C$119.00 to C$126.00 in a research note on Monday, December 8th. Four analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of C$130.27.

Canadian Imperial Bank of Commerce Stock Down 1.6%

Shares of TSE CM traded down C$2.05 on Thursday, reaching C$129.54. 916,553 shares of the company’s stock traded hands, compared to its average volume of 2,578,602. The company has a market cap of C$120.03 billion, a price-to-earnings ratio of 15.12, a price-to-earnings-growth ratio of 3.03 and a beta of 1.26. The business’s 50 day simple moving average is C$127.37 and its two-hundred day simple moving average is C$116.69. Canadian Imperial Bank of Commerce has a 12 month low of C$76.17 and a 12 month high of C$133.80.

Canadian Imperial Bank of Commerce (TSE:CM) (NYSE:CM) last issued its earnings results on Thursday, December 4th. The company reported C$2.21 earnings per share (EPS) for the quarter. Canadian Imperial Bank of Commerce had a net margin of 27.87% and a return on equity of 12.61%. The business had revenue of C$7.58 billion during the quarter. Analysts forecast that Canadian Imperial Bank of Commerce will post 6.4127341 earnings per share for the current fiscal year.

Insider Transactions at Canadian Imperial Bank of Commerce

In other Canadian Imperial Bank of Commerce news, insider Frank Guse sold 5,000 shares of the company’s stock in a transaction that occurred on Wednesday, December 24th. The stock was sold at an average price of C$127.16, for a total value of C$635,800.00. Following the transaction, the insider directly owned 1,359 shares of the company’s stock, valued at C$172,810.44. This represents a 78.63% decrease in their position. 0.02% of the stock is owned by corporate insiders.

Canadian Imperial Bank of Commerce Company Profile

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.