Canadian Imperial Bank of Commerce (TSE:CM) Stock Rating Lowered by Scotiabank

Canadian Imperial Bank of Commerce (TSE:CM) (NYSE:CM) was downgraded by analysts at Scotiabank from a “strong-buy” rating to a “hold” rating in a note issued to investors on Monday,Zacks.com reports.

CM has been the topic of a number of other research reports. Royal Bank Of Canada cut their price objective on shares of Canadian Imperial Bank of Commerce from C$158.00 to C$147.00 and set an “outperform” rating on the stock in a research report on Wednesday, March 25th. Raymond James Financial cut their price objective on shares of Canadian Imperial Bank of Commerce from C$157.50 to C$155.50 and set a “market perform” rating on the stock in a research report on Friday. Canaccord Genuity Group lifted their price objective on shares of Canadian Imperial Bank of Commerce from C$153.00 to C$158.00 and gave the stock a “hold” rating in a research report on Friday. Jefferies Financial Group lifted their price objective on shares of Canadian Imperial Bank of Commerce from C$136.00 to C$143.00 in a research report on Wednesday, May 20th. Finally, National Bank Financial boosted their target price on shares of Canadian Imperial Bank of Commerce from C$150.00 to C$152.00 and gave the stock a “sector perform” rating in a research report on Friday, May 15th. Six analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat.com, Canadian Imperial Bank of Commerce has a consensus rating of “Moderate Buy” and an average price target of C$152.86.

Canadian Imperial Bank of Commerce Stock Down 2.5%

Shares of Canadian Imperial Bank of Commerce stock opened at C$146.70 on Monday. The firm’s 50 day moving average price is C$146.08 and its 200-day moving average price is C$134.45. Canadian Imperial Bank of Commerce has a 52-week low of C$91.94 and a 52-week high of C$162.12. The company has a market cap of C$135.02 billion, a P/E ratio of 14.55, a PEG ratio of 3.03 and a beta of 1.30.

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

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.