National Bank Financial Issues Positive Forecast for Canadian Imperial Bank of Commerce (TSE:CM) Stock Price

Canadian Imperial Bank of Commerce (TSE:CM) (NYSE:CM) had its target price hoisted by National Bank Financial from C$152.00 to C$180.00 in a report released on Thursday,BayStreet.CA reports. The firm presently has a “sector perform” rating on the stock. National Bank Financial’s price target points to a potential upside of 5.48% from the company’s current price.

CM has been the topic of a number of other research reports. TD increased their target price 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. Scotiabank upped their target price on shares of Canadian Imperial Bank of Commerce from C$155.00 to C$157.00 and gave the company a “sector perform” rating in a report on Tuesday, June 16th. Desjardins downgraded shares of Canadian Imperial Bank of Commerce from a “buy” rating to a “hold” rating and increased their price target for the stock from C$160.00 to C$173.00 in a research report on Wednesday, August 5th. Jefferies Financial Group lifted their price target 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 research note on Thursday. Finally, Canaccord Genuity Group upped their price objective on Canadian Imperial Bank of Commerce from C$160.00 to C$168.00 and gave the stock a “hold” rating in a research note on Tuesday, July 7th. Five equities research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. According to data from MarketBeat, Canadian Imperial Bank of Commerce currently has an average rating of “Hold” and an average price target of C$160.95.

Canadian Imperial Bank of Commerce Trading Up 1.2%

CM traded up C$2.02 during trading on Thursday, hitting C$170.65. 446,712 shares of the company’s stock traded hands, compared to its average volume of 2,535,068. The stock has a market capitalization of C$155.77 billion, a price-to-earnings ratio of 16.93, a PEG ratio of 3.03 and a beta of 1.40. Canadian Imperial Bank of Commerce has a 12-month low of C$100.43 and a 12-month high of C$171.64. The company’s 50 day simple moving average is C$162.97 and its two-hundred day simple moving average is C$148.29.

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. Canadian Imperial Bank of Commerce had a return on equity of 15.24% and a net margin of 18.44%.The company had revenue of C$8.01 billion for the quarter. On average, equities analysts expect that Canadian Imperial Bank of Commerce will post 6.4127341 EPS for the current year.

Insider Buying and Selling at Canadian Imperial Bank of Commerce

In other news, insider Christopher John Anderson sold 8,490 shares of the stock in a transaction that occurred on Thursday, June 11th. The stock was sold at an average price of C$155.50, for a total value of C$1,320,195.00. Following the sale, the insider directly owned 6,252 shares in the company, valued at approximately C$972,186. This represents a 57.59% decrease in their ownership of the stock. Also, insider Amy Florence South sold 1,200 shares of the business’s stock in a transaction on Monday, June 22nd. The shares were sold at an average price of C$160.92, for a total value of C$193,104.00. Insiders sold 17,776 shares of company stock worth $2,817,744 over the last 90 days. Company 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.