Canadian Imperial Bank of Commerce (TSE:CM) Given New C$158.00 Price Target at Royal Bank Of Canada

Canadian Imperial Bank of Commerce (TSE:CM) (NYSE:CM) had its target price boosted by equities research analysts at Royal Bank Of Canada from C$134.00 to C$158.00 in a report issued on Friday,BayStreet.CA reports. The brokerage presently has an “outperform” rating on the stock. Royal Bank Of Canada’s target price would suggest a potential upside of 14.87% from the stock’s previous close.

CM has been the topic of a number of other reports. BMO Capital Markets lifted their price objective on Canadian Imperial Bank of Commerce from C$135.00 to C$150.00 and gave the company an “outperform” rating in a report on Friday. Jefferies Financial Group increased their price objective on Canadian Imperial Bank of Commerce from C$123.00 to C$127.00 in a research report on Wednesday, February 11th. Scotiabank lifted their target price on shares of Canadian Imperial Bank of Commerce from C$138.00 to C$153.00 and gave the stock an “outperform” rating in a report on Friday. Raymond James Financial lifted their price objective on shares of Canadian Imperial Bank of Commerce from C$122.00 to C$135.00 and gave the stock a “market perform” rating in a research note on Tuesday, February 17th. Finally, Barclays upgraded Canadian Imperial Bank of Commerce from a “strong sell” rating to an “overweight” rating and increased their price target for the stock from C$126.00 to C$137.00 in a report on Thursday, February 19th. Six analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of C$146.05.

Canadian Imperial Bank of Commerce Stock Down 3.0%

Shares of Canadian Imperial Bank of Commerce stock traded down C$4.29 during midday trading on Friday, hitting C$137.55. The company’s stock had a trading volume of 1,618,844 shares, compared to its average volume of 2,555,776. The firm has a market capitalization of C$127.46 billion, a P/E ratio of 16.05, a PEG ratio of 3.03 and a beta of 1.26. The stock has a 50-day simple moving average of C$128.99 and a 200-day simple moving average of C$119.21. Canadian Imperial Bank of Commerce has a 1-year low of C$76.17 and a 1-year high of C$143.80.

Canadian Imperial Bank of Commerce (TSE:CM) (NYSE:CM) last issued its earnings results on Thursday, February 26th. The company reported C$2.76 earnings per share for the quarter. Canadian Imperial Bank of Commerce had a return on equity of 12.61% and a net margin of 27.87%.The company had revenue of C$8.40 billion for the quarter. As a group, sell-side analysts predict that Canadian Imperial Bank of Commerce will post 6.4127341 earnings per share for the current year.

Insider Activity

In related news, insider Frank Guse sold 5,000 shares of the business’s stock in a transaction on Wednesday, December 24th. The shares were sold at an average price of C$127.16, for a total transaction of C$635,800.00. Following the completion of the transaction, the insider directly owned 1,359 shares in the company, valued at C$172,810.44. The trade was a 78.63% decrease in their ownership of the stock. 0.02% of the stock is currently owned by company 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.