Canadian Imperial Bank of Commerce (TSE:CM) Given New C$96.00 Price Target at UBS Group

Canadian Imperial Bank of Commerce (TSE:CM - Get Free Report) NYSE: CM had its target price cut by equities researchers at UBS Group from C$102.00 to C$96.00 in a research note issued on Friday,BayStreet.CA reports. UBS Group's price target indicates a potential upside of 8.68% from the stock's current price.

Several other brokerages have also weighed in on CM. Cormark lifted their price objective on Canadian Imperial Bank of Commerce from C$99.00 to C$104.00 in a report on Friday, December 6th. BMO Capital Markets boosted their price target on shares of Canadian Imperial Bank of Commerce from C$81.00 to C$99.00 in a report on Monday, November 18th. TD Securities raised their price objective on shares of Canadian Imperial Bank of Commerce from C$91.00 to C$98.00 in a report on Friday, November 15th. Royal Bank of Canada upgraded shares of Canadian Imperial Bank of Commerce from a "sector perform" rating to an "outperform" rating and lifted their target price for the company from C$97.00 to C$103.00 in a research report on Wednesday, January 8th. Finally, Canaccord Genuity Group increased their price target on shares of Canadian Imperial Bank of Commerce from C$92.00 to C$99.00 in a research report on Friday, December 6th. One analyst has rated the stock with a sell rating, two have issued a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of C$94.58.

Canadian Imperial Bank of Commerce Stock Performance

Shares of TSE:CM traded up C$0.32 on Friday, hitting C$88.33. 2,070,515 shares of the company were exchanged, compared to its average volume of 3,395,244. The company's 50 day moving average price is C$90.89 and its two-hundred day moving average price is C$84.80. The firm has a market capitalization of C$82.64 billion, a price-to-earnings ratio of 11.67, a PEG ratio of 3.03 and a beta of 1.12. Canadian Imperial Bank of Commerce has a one year low of C$61.90 and a one year high of C$95.50.

Insider Buying and Selling at Canadian Imperial Bank of Commerce

In other news, Director Victor George Dodig sold 150,000 shares of the stock in a transaction that occurred on Tuesday, December 10th. The shares were sold at an average price of C$94.22, for a total transaction of C$14,132,865.00. Also, Senior Officer Frank Guse sold 5,360 shares of the firm's stock in a transaction that occurred on Monday, December 9th. The shares were sold at an average price of C$93.28, for a total transaction of C$499,985.62. Following the completion of the sale, the insider now directly owns 440 shares of the company's stock, valued at approximately C$41,043.60. This represents a 92.41 % decrease in their position. In the last quarter, insiders sold 177,012 shares of company stock worth $16,687,218. 0.02% of the stock is currently owned by insiders.

About Canadian Imperial Bank of Commerce

Canadian Imperial Bank of Commerce is Canada's fifth- largest bank, operating three business segments: retail and business banking, wealth management, and capital markets. It serves approximately 11 million personal banking and business customers, primarily in Canada.