Canadian Imperial Bank of Commerce (TSE:CM) Given New C$157.00 Price Target at Scotiabank

Canadian Imperial Bank of Commerce (TSE:CM) (NYSE:CM) had its price target raised by Scotiabank from C$155.00 to C$157.00 in a note issued to investors on Tuesday,BayStreet.CA reports. The firm presently has a “sector perform” rating on the stock. Scotiabank’s target price suggests a potential downside of 1.95% from the stock’s previous close.

A number of other research analysts also recently weighed in on CM. Desjardins raised their price target on Canadian Imperial Bank of Commerce from C$152.00 to C$160.00 and gave the company a “buy” rating in a research note on Tuesday, May 5th. Raymond James Financial decreased their price target on Canadian Imperial Bank of Commerce from C$157.50 to C$155.50 and set a “market perform” rating for the company in a research note on Friday, May 29th. Royal Bank Of Canada reduced their target price on Canadian Imperial Bank of Commerce from C$158.00 to C$147.00 and set an “outperform” rating for the company in a research note on Wednesday, March 25th. TD Securities lifted their target price on Canadian Imperial Bank of Commerce from C$142.00 to C$153.00 and gave the stock a “buy” rating in a research note on Friday, February 27th. Finally, National Bank Financial lifted their target price on Canadian Imperial Bank of Commerce from C$150.00 to C$152.00 and gave the stock a “sector perform” rating in a research note on Friday, May 15th. Six research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat, Canadian Imperial Bank of Commerce currently has an average rating of “Moderate Buy” and a consensus price target of C$152.86.

Canadian Imperial Bank of Commerce Price Performance

CM stock traded up C$0.98 during mid-day trading on Tuesday, reaching C$160.13. The company had a trading volume of 660,166 shares, compared to its average volume of 2,493,114. The stock has a 50 day simple moving average of C$150.51 and a two-hundred day simple moving average of C$136.83. The company has a market capitalization of C$146.17 billion, a price-to-earnings ratio of 15.89, a PEG ratio of 3.03 and a beta of 1.42. Canadian Imperial Bank of Commerce has a 52 week low of C$92.95 and a 52 week high of C$162.12.

Canadian Imperial Bank of Commerce (TSE:CM) (NYSE:CM) last posted its quarterly earnings results on Thursday, May 28th. The company reported C$2.54 earnings per share for the quarter. The firm had revenue of C$8.01 billion during the quarter. Canadian Imperial Bank of Commerce had a return on equity of 15.24% and a net margin of 18.44%. On average, equities analysts predict that Canadian Imperial Bank of Commerce will post 6.4127341 EPS for the current year.

Insider Activity at Canadian Imperial Bank of Commerce

In other news, insider Christopher John Anderson sold 1,000 shares of Canadian Imperial Bank of Commerce stock in a transaction that occurred on Friday, June 5th. The stock was sold at an average price of C$152.15, for a total transaction of C$152,150.00. Following the completion of the transaction, the insider directly owned 6,252 shares in the company, valued at approximately C$951,241.80. The trade was a 13.79% decrease in their position. Corporate insiders own 0.02% of the company’s stock.

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.