Canadian Imperial Bank of Commerce (TSE:CM) Price Target Raised to C$98.00 at TD Securities

Canadian Imperial Bank of Commerce (TSE:CM - Get Free Report) NYSE: CM had its target price lifted by investment analysts at TD Securities from C$91.00 to C$98.00 in a research note issued to investors on Friday,BayStreet.CA reports. TD Securities' price objective suggests a potential upside of 9.50% from the stock's previous close.

Several other research firms have also recently weighed in on CM. BMO Capital Markets lifted their price target on Canadian Imperial Bank of Commerce from C$77.00 to C$81.00 and gave the stock an "outperform" rating in a report on Friday, August 30th. Cormark raised Canadian Imperial Bank of Commerce from a "market perform" rating to a "buy" rating and lifted their target price for the stock from C$75.00 to C$83.00 in a report on Friday, August 30th. Barclays boosted their target price on shares of Canadian Imperial Bank of Commerce from C$71.00 to C$77.00 and gave the company an "underweight" rating in a research report on Friday, August 30th. Canaccord Genuity Group raised their price target on shares of Canadian Imperial Bank of Commerce from C$74.00 to C$75.00 in a research report on Tuesday, August 13th. Finally, Royal Bank of Canada lifted their price objective on shares of Canadian Imperial Bank of Commerce from C$69.00 to C$74.00 and gave the stock a "sector perform" rating in a research note on Friday, August 30th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat, Canadian Imperial Bank of Commerce presently has an average rating of "Moderate Buy" and a consensus price target of C$79.69.

Canadian Imperial Bank of Commerce Stock Down 0.4 %

Shares of CM traded down C$0.34 during trading hours on Friday, hitting C$89.50. The company had a trading volume of 3,405,200 shares, compared to its average volume of 3,711,292. The business has a fifty day moving average of C$84.81 and a 200-day moving average of C$73.82. The firm has a market cap of C$84.57 billion, a price-to-earnings ratio of 12.95, a PEG ratio of 3.03 and a beta of 1.12. Canadian Imperial Bank of Commerce has a 12 month low of C$51.60 and a 12 month high of C$90.57.

Canadian Imperial Bank of Commerce (TSE:CM - Get Free Report) NYSE: CM last announced its quarterly earnings results on Thursday, August 29th. The company reported C$1.93 EPS for the quarter, beating analysts' consensus estimates of C$1.75 by C$0.18. The business had revenue of C$6.60 billion for the quarter, compared to analyst estimates of C$6.31 billion. Canadian Imperial Bank of Commerce had a net margin of 29.56% and a return on equity of 12.37%. On average, equities analysts expect that Canadian Imperial Bank of Commerce will post 6.4127341 EPS for the current fiscal year.

Insider Buying and Selling

In other Canadian Imperial Bank of Commerce news, Senior Officer Sandy Sharman sold 2,275 shares of the company's stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of C$83.04, for a total value of C$188,916.00. Also, Director Harry Kenneth Culham sold 800 shares of the stock in a transaction dated Monday, September 30th. The shares were sold at an average price of C$83.20, for a total value of C$66,560.00. Insiders sold a total of 203,057 shares of company stock worth $16,823,249 in the last ninety days. 0.02% of the stock is owned by insiders.

Canadian Imperial Bank of Commerce Company Profile

Canadian Imperial Bank of Commerce, a diversified financial institution, provides various financial products and services to personal, business, public sector, and institutional clients in Canada, the United States, and internationally. The company operates through Canadian Personal and Business Banking; Canadian Commercial Banking and Wealth Management; U.S.