Canadian Imperial Bank of Commerce (TSE:CM) Given New C$131.00 Price Target at National Bank Financial

Canadian Imperial Bank of Commerce (TSE:CM) (NYSE:CM) had its price objective raised by equities research analysts at National Bank Financial from C$128.00 to C$131.00 in a note issued to investors on Tuesday,BayStreet.CA reports. The firm presently has a “sector perform” rating on the stock. National Bank Financial’s price target would indicate a potential downside of 0.58% from the stock’s current price.

Several other research firms have also recently issued reports on CM. Desjardins raised their target price on Canadian Imperial Bank of Commerce from C$135.00 to C$139.00 and gave the stock a “buy” rating in a research note on Monday, February 9th. Scotiabank increased their price objective on Canadian Imperial Bank of Commerce from C$133.00 to C$138.00 in a report on Friday, January 9th. TD Securities boosted their target price on Canadian Imperial Bank of Commerce from C$134.00 to C$142.00 in a research note on Monday, February 9th. Barclays raised their price target on Canadian Imperial Bank of Commerce from C$119.00 to C$126.00 in a research note on Monday, December 8th. Finally, Royal Bank Of Canada boosted their price objective on shares of Canadian Imperial Bank of Commerce from C$131.00 to C$134.00 and gave the company an “outperform” rating in a research report on Monday, January 5th. Four analysts have rated the stock with a Buy rating, four have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, Canadian Imperial Bank of Commerce has an average rating of “Hold” and an average price target of C$134.30.

Canadian Imperial Bank of Commerce Price Performance

Canadian Imperial Bank of Commerce stock traded up C$1.26 during trading hours on Tuesday, reaching C$131.77. The company had a trading volume of 347,896 shares, compared to its average volume of 2,562,436. Canadian Imperial Bank of Commerce has a 12-month low of C$76.17 and a 12-month high of C$133.80. The company has a 50-day moving average price of C$127.64 and a 200 day moving average price of C$117.45. The firm has a market cap of C$122.10 billion, a price-to-earnings ratio of 15.38, a P/E/G ratio of 3.03 and a beta of 1.26.

Canadian Imperial Bank of Commerce (TSE:CM) (NYSE:CM) last issued its earnings results on Thursday, December 4th. The company reported C$2.21 EPS for the quarter. The company had revenue of C$7.58 billion for the quarter. Canadian Imperial Bank of Commerce had a net margin of 27.87% and a return on equity of 12.61%. As a group, research analysts expect that Canadian Imperial Bank of Commerce will post 6.4127341 earnings per share for the current year.

Insider Activity

In related news, insider Frank Guse sold 5,000 shares of the company’s stock in a transaction dated Wednesday, December 24th. The shares were sold at an average price of C$127.16, for a total value of C$635,800.00. Following the transaction, the insider owned 1,359 shares in the company, valued at C$172,810.44. The trade was a 78.63% decrease in their position. 0.02% of the stock is currently owned by corporate insiders.

Canadian Imperial Bank of Commerce Company Profile

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 and 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.