Canadian Imperial Bank of Commerce (NYSE:CM) gapped up before the market opened on Tuesday . The stock had previously closed at $77.35, but opened at $77.56. Canadian Imperial Bank of Commerce shares last traded at $78.36, with a volume of 192,244 shares trading hands.

A number of brokerages recently weighed in on CM. Zacks Investment Research lowered shares of Canadian Imperial Bank of Commerce from a “buy” rating to a “hold” rating in a research note on Wednesday, April 27th. Vetr raised shares of Canadian Imperial Bank of Commerce from a “hold” rating to a “buy” rating and set a $81.04 target price on the stock in a research note on Tuesday, May 3rd. Canaccord Genuity reissued a “hold” rating on shares of Canadian Imperial Bank of Commerce in a research note on Thursday, May 26th. Royal Bank Of Canada reissued a “sector perform” rating and issued a $106.00 target price (down from $107.00) on shares of Canadian Imperial Bank of Commerce in a research note on Friday, May 27th. Finally, TD Securities reissued a “hold” rating and issued a $100.00 target price on shares of Canadian Imperial Bank of Commerce in a research note on Friday, July 1st. Five research analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have issued a buy rating to the company. The company has a consensus rating of “Hold” and an average price target of $97.42.

The company has a 50-day moving average of $76.08 and a 200-day moving average of $75.14. The firm has a market capitalization of $31.06 billion and a price-to-earnings ratio of 11.19.

Canadian Imperial Bank of Commerce (NYSE:CM) last released its quarterly earnings results on Thursday, May 26th. The company reported $2.40 EPS for the quarter, beating the consensus estimate of $2.32 by $0.08. Analysts forecast that Canadian Imperial Bank of Commerce will post $7.36 EPS for the current year.

An institutional investor recently raised its position in Canadian Imperial Bank of Commerce stock. Advisors Asset Management Inc. raised its stake in shares of Canadian Imperial Bank of Commerce (NYSE:CM) by 2.7% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 19,560 shares of the company’s stock after buying an additional 519 shares during the period. Advisors Asset Management Inc.’s holdings in Canadian Imperial Bank of Commerce were worth $1,288,000 at the end of the most recent reporting period.

Canadian Imperial Bank of Commerce (CIBC) is a Canada-based financial institution. CIBC serves its clients through three strategic business units: Retail and Business Banking, Wealth Management and Wholesale Banking. Its three main operating groups are supported by six functional groups: Technology and Operations; Corporate Development; Finance; Treasury; Administration; and Risk Management, which form part of Corporate and Other.

Get Analysts' Upgrades and Downgrades Daily - Enter your email address below to receive a concise daily summary of analysts' upgrades, downgrades and new coverage with MarketBeat.com's FREE daily email newsletter.