Shares of Canadian Imperial Bank of Commerce (NYSE:CM) gapped down prior to trading on Monday . The stock had previously closed at $79.49, but opened at $79.70. Canadian Imperial Bank of Commerce shares last traded at $80.26, with a volume of 624,500 shares.

CM has been the topic of several research analyst reports. Vetr upgraded shares of Canadian Imperial Bank of Commerce from a “hold” rating to a “buy” rating and set a $84.06 price target on the stock in a research note on Monday, May 16th. Desjardins reiterated a “buy” rating and issued a $110.00 price target (up previously from $109.00) on shares of Canadian Imperial Bank of Commerce in a research note on Monday, August 29th. Zacks Investment Research upgraded shares of Canadian Imperial Bank of Commerce from a “hold” rating to a “buy” rating and set a $90.00 price target on the stock in a research note on Tuesday, August 30th. Canaccord Genuity reiterated a “hold” rating on shares of Canadian Imperial Bank of Commerce in a research note on Thursday, May 26th. Finally, TD Securities reiterated a “hold” rating and issued a $100.00 price target on shares of Canadian Imperial Bank of Commerce in a research note on Friday, July 1st. Five investment analysts have rated the stock with a sell rating, nine have issued a hold rating and four have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average price target of $100.80.

The company has a 50-day moving average price of $77.11 and a 200 day moving average price of $75.87. The company has a market cap of $31.69 billion and a price-to-earnings ratio of 10.08.

Canadian Imperial Bank of Commerce (NYSE:CM) last announced its earnings results on Thursday, August 25th. The company reported $2.67 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $2.35 by $0.32. During the same quarter last year, the business posted $2.45 earnings per share. Analysts anticipate that Canadian Imperial Bank of Commerce will post $7.76 earnings per share for the current fiscal 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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