Canadian Imperial Bank of Commerce (TSE:CM) Given New C$139.00 Price Target at Desjardins

Canadian Imperial Bank of Commerce (TSE:CM) (NYSE:CM) had its price target increased by stock analysts at Desjardins from C$135.00 to C$139.00 in a research report issued to clients and investors on Monday,BayStreet.CA reports. The firm currently has a “buy” rating on the stock. Desjardins’ price target would indicate a potential upside of 4.51% from the stock’s previous close.

Several other analysts have also recently weighed in on the company. BMO Capital Markets lifted their price target on Canadian Imperial Bank of Commerce from C$130.00 to C$135.00 in a report on Wednesday, December 17th. National Bankshares raised their price target on shares of Canadian Imperial Bank of Commerce from C$121.00 to C$128.00 and gave the stock a “sector perform” rating in a research report on Friday, December 5th. Raymond James Financial boosted their price objective on shares of Canadian Imperial Bank of Commerce from C$127.00 to C$132.00 and gave the company a “market perform” rating in a report on Friday, December 5th. Scotiabank boosted their price target on Canadian Imperial Bank of Commerce from C$133.00 to C$138.00 in a research note on Friday, January 9th. Finally, TD Securities raised their price objective on Canadian Imperial Bank of Commerce from C$134.00 to C$142.00 in a research note on Monday. Four analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, Canadian Imperial Bank of Commerce presently has a consensus rating of “Hold” and an average target price of C$127.18.

Canadian Imperial Bank of Commerce Trading Up 0.7%

Shares of CM stock traded up C$0.90 on Monday, hitting C$133.00. 566,585 shares of the stock were exchanged, compared to its average volume of 2,678,745. The firm has a market capitalization of C$123.24 billion, a P/E ratio of 15.52, a price-to-earnings-growth ratio of 3.03 and a beta of 1.26. Canadian Imperial Bank of Commerce has a fifty-two week low of C$76.17 and a fifty-two week high of C$133.18. The business has a 50-day moving average of C$126.65 and a 200 day moving average of C$116.14.

Canadian Imperial Bank of Commerce (TSE:CM) (NYSE:CM) last announced its quarterly earnings data on Thursday, December 4th. The company reported C$2.21 EPS for the quarter. The business 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 forecast that Canadian Imperial Bank of Commerce will post 6.4127341 EPS 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 business’s stock in a transaction on Wednesday, December 24th. The stock was sold at an average price of C$127.16, for a total transaction of C$635,800.00. Following the sale, 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 company insiders.

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.