TD Has Lowered Expectations for Canadian Imperial Bank of Commerce (TSE:CM) Stock Price

Canadian Imperial Bank of Commerce (TSE:CM) (NYSE:CM) had its price objective dropped by research analysts at TD from C$175.00 to C$174.00 in a research report issued to clients and investors on Thursday, BayStreet reports. The firm currently has a “buy” rating on the stock. TD‘s target price would indicate a potential upside of 5.26% from the company’s previous close.

CM has been the subject of several other reports. Desjardins set a C$170.00 price target on Canadian Imperial Bank of Commerce and gave the stock a “hold” rating in a report on Wednesday. Keefe, Bruyette & Woods set a C$186.00 price objective on Canadian Imperial Bank of Commerce and gave the company a “hold” rating in a report on Friday, August 21st. National Bank Financial set a C$180.00 price objective on Canadian Imperial Bank of Commerce and gave the stock a “sector perform” rating in a research report on Monday, August 24th. Jefferies Financial Group increased their price objective on Canadian Imperial Bank of Commerce from C$153.00 to C$154.00 in a research report on Thursday, September 3rd. Finally, Canaccord Genuity Group lifted their target price on Canadian Imperial Bank of Commerce from C$168.00 to C$169.00 and gave the stock a “hold” rating in a report on Friday, August 28th. Five research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company. According to MarketBeat, Canadian Imperial Bank of Commerce has a consensus rating of “Hold” and an average target price of C$167.71.

Canadian Imperial Bank of Commerce Price Performance

Canadian Imperial Bank of Commerce stock traded down C$0.71 during trading hours on Thursday, hitting C$165.31. The company had a trading volume of 307,437 shares, compared to its average volume of 2,461,369. The firm has a 50-day moving average of C$160.17 and a 200 day moving average of C$152.38. The firm has a market cap of C$150.09 billion, a PE ratio of 15.86, a PEG ratio of 3.03 and a beta of 1.23. Canadian Imperial Bank of Commerce has a one year low of C$116.65 and a one year high of C$172.87.

Canadian Imperial Bank of Commerce (TSE:CM) (NYSE:CM) last issued its quarterly earnings data on Thursday, August 27th. The company reported C$2.73 earnings per share (EPS) for the quarter. Canadian Imperial Bank of Commerce had a return on equity of 15.44% and a net margin of 16.13%. The company had revenue of C$8.37 billion during the quarter. As a group, research analysts expect that Canadian Imperial Bank of Commerce will post 6.41 earnings per share for the current year.

Insider Transactions at Canadian Imperial Bank of Commerce

In other news, insider Amy Florence South sold 4,218 shares of Canadian Imperial Bank of Commerce stock in a transaction on Tuesday, September 22nd. The shares were sold at an average price of C$161.41, for a total transaction of C$680,827.38. 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, 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.