Canadian Imperial Bank of Commerce (TSE:CM) (NYSE:CM) was downgraded by investment analysts at Citigroup Inc. from a “buy” rating to a “neutral” rating in a report issued on Wednesday. They presently have a C$120.00 target price on the stock, up from their previous target price of C$113.00. Citigroup Inc.’s price target indicates a potential upside of 5.54% from the stock’s current price.

A number of other equities research analysts also recently weighed in on CM. Barclays PLC lifted their target price on Canadian Imperial Bank of Commerce from C$108.00 to C$110.00 in a research report on Friday, August 11th. Scotiabank lifted their target price on Canadian Imperial Bank of Commerce from C$118.00 to C$120.00 and gave the stock a “sector perform” rating in a research report on Monday, August 21st. Keefe, Bruyette & Woods lifted their target price on Canadian Imperial Bank of Commerce from C$115.00 to C$116.00 in a research report on Tuesday, August 22nd. BMO Capital Markets reissued a “market perform” rating and set a C$118.00 target price on shares of Canadian Imperial Bank of Commerce in a research report on Friday, August 25th. Finally, Canaccord Genuity reissued a “buy” rating and set a C$116.00 target price on shares of Canadian Imperial Bank of Commerce in a research report on Friday, August 25th. One analyst has rated the stock with a sell rating, six have given a hold rating and three have issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus target price of C$118.17.

Shares of Canadian Imperial Bank of Commerce (TSE:CM) traded down 0.27% during mid-day trading on Wednesday, reaching $113.70. The company’s stock had a trading volume of 1,897,862 shares. The stock has a market capitalization of $49.57 billion and a P/E ratio of 10.34. Canadian Imperial Bank of Commerce has a 12 month low of $97.52 and a 12 month high of $120.83. The company has a 50 day moving average price of $109.52 and a 200 day moving average price of $108.11.

Canadian Imperial Bank of Commerce (TSE:CM) (NYSE:CM) last released its earnings results on Thursday, August 24th. The company reported C$2.77 earnings per share for the quarter, topping analysts’ consensus estimates of C$2.63 by C$0.14. Canadian Imperial Bank of Commerce had a return on equity of 16.50% and a net margin of 26.73%. The business had revenue of C$4.10 billion for the quarter, compared to the consensus estimate of C$4.01 billion. On average, equities research analysts anticipate that Canadian Imperial Bank of Commerce will post $10.91 earnings per share for the current fiscal year.

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In other news, Director Katharine Berghuis Stevenson bought 400 shares of the business’s stock in a transaction dated Tuesday, August 29th. The stock was bought at an average price of C$105.19 per share, for a total transaction of C$42,076.00. Also, Director Michelle Lynn Collins bought 1,186 shares of the business’s stock in a transaction dated Monday, August 28th. The stock was purchased at an average price of C$84.30 per share, with a total value of C$99,979.80.

Canadian Imperial Bank of Commerce Company Profile

Canadian Imperial Bank of Commerce (CIBC) is a global financial institution. The Company provides a range of financial products and services to approximately 11 million individual, small business, commercial, corporate and institutional clients in Canada and around the world. The Company operates through three segments: Retail and Business Banking, Wealth Management and Capital Markets.

Analyst Recommendations for Canadian Imperial Bank of Commerce (TSE:CM)

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