Canadian Imperial Bank of Commerce (NYSE:CM) gapped up prior to trading 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 traded.

CM has been the topic of several recent research reports. Barclays PLC restated an “underperform” rating and issued a $93.00 price objective (up previously from $87.00) on shares of Canadian Imperial Bank of Commerce in a research report on Sunday. Royal Bank Of Canada reduced their target price on Canadian Imperial Bank of Commerce from $106.00 to $104.00 and set a “sector perform” rating for the company in a research note on Thursday, June 30th. Zacks Investment Research downgraded Canadian Imperial Bank of Commerce from a “buy” rating to a “hold” rating in a research note on Wednesday, April 27th. TD Securities reaffirmed a “hold” rating and set a $100.00 target price on shares of Canadian Imperial Bank of Commerce in a research note on Friday, July 1st. Finally, Vetr raised Canadian Imperial Bank of Commerce from a “hold” rating to a “buy” rating and set a $84.06 target price for the company in a research note on Monday, May 16th. Five investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $97.42.

The company has a market capitalization of $31.44 billion and a P/E ratio of 11.17. The stock’s 50 day moving average is $76.21 and its 200 day moving average is $75.16.

Canadian Imperial Bank of Commerce (NYSE:CM) last posted its quarterly earnings results on Thursday, August 25th. The company reported $2.07 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.83 by $0.24. During the same period in the previous year, the company posted $2.45 EPS. On average, equities analysts anticipate that Canadian Imperial Bank of Commerce will post $7.36 earnings per share for the current year.

A hedge fund recently raised its stake in Canadian Imperial Bank of Commerce stock. Schroder Investment Management Group raised its position in shares of Canadian Imperial Bank of Commerce (NYSE:CM) by 27.5% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 223,426 shares of the company’s stock after buying an additional 48,234 shares during the period. Schroder Investment Management Group owned approximately 0.06% of Canadian Imperial Bank of Commerce worth $20,374,000 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.