Jefferies Financial Group Issues Positive Forecast for Canadian Imperial Bank of Commerce (TSE:CM) Stock Price

Canadian Imperial Bank of Commerce (TSE:CM) (NYSE:CM) had its target price increased by investment analysts at Jefferies Financial Group from C$123.00 to C$127.00 in a research note issued on Wednesday,BayStreet.CA reports. Jefferies Financial Group’s price target would suggest a potential downside of 3.55% from the company’s previous close.

A number of other equities research analysts have also recently weighed in on CM. Scotiabank upped their price objective on Canadian Imperial Bank of Commerce from C$133.00 to C$138.00 in a research note on Friday, January 9th. Raymond James Financial boosted their price objective on shares of Canadian Imperial Bank of Commerce from C$127.00 to C$132.00 and gave the stock a “market perform” rating in a research note on Friday, December 5th. Desjardins raised their target price on shares of Canadian Imperial Bank of Commerce from C$135.00 to C$139.00 and gave the company a “buy” rating in a research note on Monday. Barclays upped their price target on Canadian Imperial Bank of Commerce from C$119.00 to C$126.00 in a research report on Monday, December 8th. Finally, TD Securities raised their price objective on Canadian Imperial Bank of Commerce from C$134.00 to C$142.00 in a research report on Monday. Four research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of C$128.00.

Canadian Imperial Bank of Commerce Price Performance

Shares of TSE:CM traded down C$1.27 during trading hours on Wednesday, hitting C$131.68. The company’s stock had a trading volume of 794,887 shares, compared to its average volume of 2,610,649. The firm’s fifty day moving average price is C$127.16 and its 200 day moving average price is C$116.59. Canadian Imperial Bank of Commerce has a 52 week low of C$76.17 and a 52 week high of C$133.80. The company has a market capitalization of C$122.02 billion, a price-to-earnings ratio of 15.37, a P/E/G ratio of 3.03 and a beta of 1.26.

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

Insiders Place Their Bets

In other Canadian Imperial Bank of Commerce news, insider Frank Guse sold 5,000 shares of the firm’s stock in a transaction that occurred 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 of the company’s stock, valued at approximately C$172,810.44. This trade represents a 78.63% decrease in their position. Company 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.