Shares of Canadian Imperial Bank of Commerce (NYSE:CM) gapped up prior to trading on Friday . The stock had previously closed at $79.43, but opened at $79.70. Canadian Imperial Bank of Commerce shares last traded at $80.24, with a volume of 257,095 shares changing hands.

A number of analysts have issued reports on CM shares. Royal Bank Of Canada boosted their price objective on shares of Canadian Imperial Bank of Commerce from $104.00 to $112.00 and gave the company a “sector perform” rating in a report on Friday, August 26th. Scotiabank reissued a “sector perform” rating and issued a $105.00 price objective (up previously from $102.00) on shares of Canadian Imperial Bank of Commerce in a report on Monday. Canaccord Genuity reissued a “hold” rating on shares of Canadian Imperial Bank of Commerce in a report on Thursday, May 26th. BMO Capital Markets reissued a “market perform” rating and issued a $103.00 price objective (up previously from $97.00) on shares of Canadian Imperial Bank of Commerce in a report on Friday, August 26th. Finally, Desjardins reissued a “buy” rating and issued a $110.00 price objective (up previously from $109.00) on shares of Canadian Imperial Bank of Commerce in a report on Monday. Five analysts have rated the stock with a sell rating, nine have given a hold rating and four have assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus price target of $100.80.

The firm has a market capitalization of $31.70 billion and a PE ratio of 9.97. The stock’s 50-day moving average is $77.11 and its 200 day moving average is $75.87.

Canadian Imperial Bank of Commerce (NYSE:CM) last issued its earnings results on Thursday, August 25th. The company reported $2.67 earnings per share for the quarter, topping analysts’ consensus estimates of $2.35 by $0.32. During the same quarter in the prior year, the business posted $2.45 EPS. On average, equities analysts predict that Canadian Imperial Bank of Commerce will post $7.74 earnings per share for the current year.

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.

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