Canadian Imperial Bank of Commerce (TSE:CM) Price Target Raised to C$135.00 at Raymond James Financial

Canadian Imperial Bank of Commerce (TSE:CM) (NYSE:CM) had its target price increased by Raymond James Financial from C$122.00 to C$135.00 in a report released on Tuesday,BayStreet.CA reports. The firm currently has a “market perform” rating on the stock. Raymond James Financial’s price objective suggests a potential upside of 2.45% from the company’s previous close.

Several other equities analysts have also issued reports on CM. Desjardins boosted their price target on shares of Canadian Imperial Bank of Commerce from C$135.00 to C$139.00 and gave the company a “buy” rating in a report on Monday, February 9th. BMO Capital Markets boosted their price objective on Canadian Imperial Bank of Commerce from C$130.00 to C$135.00 in a research report on Wednesday, December 17th. TD Securities increased 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. Scotiabank lifted their price target on shares of Canadian Imperial Bank of Commerce from C$133.00 to C$138.00 in a research note on Friday, January 9th. Finally, National Bank Financial increased their price objective on Canadian Imperial Bank of Commerce from C$121.00 to C$128.00 and gave the stock a “sector perform” rating in a report on Friday, December 5th. Four investment analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, Canadian Imperial Bank of Commerce presently has an average rating of “Hold” and a consensus target price of C$134.30.

Canadian Imperial Bank of Commerce Price Performance

Shares of Canadian Imperial Bank of Commerce stock traded up C$1.26 on Tuesday, hitting C$131.77. 347,896 shares of the company’s stock traded hands, compared to its average volume of 2,562,436. Canadian Imperial Bank of Commerce has a one year low of C$76.17 and a one year high of C$133.80. The stock has a market capitalization of C$122.10 billion, a PE ratio of 15.38, a price-to-earnings-growth ratio of 3.03 and a beta of 1.26. The firm’s 50-day moving average price is C$127.64 and its two-hundred day moving average price is C$117.45.

Canadian Imperial Bank of Commerce (TSE:CM) (NYSE:CM) last released its quarterly earnings data on Thursday, December 4th. The company reported C$2.21 EPS for the quarter. Canadian Imperial Bank of Commerce had a return on equity of 12.61% and a net margin of 27.87%.The business had revenue of C$7.58 billion during the quarter. On average, analysts forecast that Canadian Imperial Bank of Commerce will post 6.4127341 earnings per share for the current fiscal year.

Insider Buying and Selling at Canadian Imperial Bank of Commerce

In related news, insider Frank Guse sold 5,000 shares of the stock in a transaction on Wednesday, December 24th. The stock was sold at an average price of C$127.16, for a total value of C$635,800.00. Following the sale, the insider owned 1,359 shares in the company, valued at approximately C$172,810.44. This represents a 78.63% decrease in their position. 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 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.