Canadian Imperial Bank of Commerce (TSE:CM) Given New C$170.00 Price Target at Barclays

Canadian Imperial Bank of Commerce (TSE:CM) (NYSE:CM) had its price objective raised by equities research analysts at Barclays from C$144.00 to C$170.00 in a research report issued on Friday,BayStreet.CA reports. Barclays‘s price objective would indicate a potential upside of 5.52% from the company’s previous close.

CM has been the subject of a number of other reports. Canaccord Genuity Group boosted their target price on Canadian Imperial Bank of Commerce from C$160.00 to C$168.00 and gave the company a “hold” rating in a research note on Tuesday, July 7th. TD lifted their price objective on Canadian Imperial Bank of Commerce from C$163.00 to C$175.00 and gave the company a “buy” rating in a report on Wednesday, August 12th. Scotiabank boosted their price objective on Canadian Imperial Bank of Commerce from C$155.00 to C$157.00 and gave the company a “sector perform” rating in a research report on Tuesday, June 16th. Jefferies Financial Group raised their target price on shares of Canadian Imperial Bank of Commerce from C$143.00 to C$153.00 and gave the stock a “hold” rating in a report on Thursday, August 13th. Finally, National Bank Financial upped their price target on shares of Canadian Imperial Bank of Commerce from C$152.00 to C$180.00 and gave the company a “sector perform” rating in a report on Thursday, August 13th. Five equities research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of C$165.46.

Canadian Imperial Bank of Commerce Trading Up 0.8%

Shares of CM stock traded up C$1.34 on Friday, hitting C$161.11. The stock had a trading volume of 516,201 shares, compared to its average volume of 2,511,593. Canadian Imperial Bank of Commerce has a twelve month low of C$100.43 and a twelve month high of C$172.87. The firm has a market cap of C$147.06 billion, a P/E ratio of 15.98, a PEG ratio of 3.03 and a beta of 1.40. The company has a fifty day moving average price of C$164.67 and a two-hundred day moving average price of C$150.02.

Canadian Imperial Bank of Commerce (TSE:CM) (NYSE:CM) last released its quarterly earnings data on Thursday, May 28th. The company reported C$2.54 EPS for the quarter. The business had revenue of C$8.01 billion during the quarter. Canadian Imperial Bank of Commerce had a net margin of 18.44% and a return on equity of 15.24%. On average, 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 Amy Florence South sold 1,200 shares of Canadian Imperial Bank of Commerce stock in a transaction dated Monday, June 22nd. The stock was sold at an average price of C$160.92, for a total value of C$193,104.00. Also, insider Stephen Alan Scholtz sold 6,000 shares of Canadian Imperial Bank of Commerce stock in a transaction dated Wednesday, June 24th. The shares were sold at an average price of C$162.70, for a total value of C$976,200.00. Insiders sold 17,776 shares of company stock worth $2,817,744 in the last quarter. Corporate 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.