National Bank Financial Increases Canadian Imperial Bank of Commerce (TSE:CM) Price Target to C$131.00

Canadian Imperial Bank of Commerce (TSE:CM) (NYSE:CM) had its price objective hoisted by stock analysts at National Bank Financial from C$128.00 to C$131.00 in a research note issued to investors on Tuesday,BayStreet.CA reports. The firm currently has a “sector perform” rating on the stock. National Bank Financial’s price target suggests a potential downside of 1.06% from the stock’s previous close.

Several other equities research analysts also recently issued reports on CM. BMO Capital Markets raised their price target on Canadian Imperial Bank of Commerce from C$130.00 to C$135.00 in a report on Wednesday, December 17th. Raymond James Financial increased their price objective on shares of Canadian Imperial Bank of Commerce from C$122.00 to C$135.00 and gave the company a “market perform” rating in a research report on Tuesday. Barclays lifted their target price on shares of Canadian Imperial Bank of Commerce from C$119.00 to C$126.00 in a report on Monday, December 8th. Scotiabank increased their price target on shares of Canadian Imperial Bank of Commerce from C$133.00 to C$138.00 in a report on Friday, January 9th. Finally, Royal Bank Of Canada boosted their price objective on Canadian Imperial Bank of Commerce from C$131.00 to C$134.00 and gave the stock an “outperform” rating in a report on Monday, January 5th. Four analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of C$134.30.

Canadian Imperial Bank of Commerce Stock Performance

Canadian Imperial Bank of Commerce stock opened at C$132.41 on Tuesday. Canadian Imperial Bank of Commerce has a 52 week low of C$76.17 and a 52 week high of C$133.80. The stock has a market capitalization of C$122.69 billion, a P/E ratio of 15.45, a PEG ratio of 3.03 and a beta of 1.26. The stock has a 50-day simple moving average of C$127.88 and a 200 day simple moving average of C$117.78.

Canadian Imperial Bank of Commerce (TSE:CM) (NYSE:CM) last released its quarterly earnings data on Thursday, December 4th. The company reported C$2.21 earnings per share (EPS) for the quarter. Canadian Imperial Bank of Commerce had a return on equity of 12.61% and a net margin of 27.87%.The firm had revenue of C$7.58 billion for the quarter. Research analysts forecast that Canadian Imperial Bank of Commerce will post 6.4127341 earnings per share for the current year.

Insider Buying and Selling

In other Canadian Imperial Bank of Commerce news, insider Frank Guse sold 5,000 shares of Canadian Imperial Bank of Commerce stock in a transaction on Wednesday, December 24th. The stock was sold at an average price of C$127.16, for a total value of C$635,800.00. Following the completion of the transaction, the insider directly owned 1,359 shares of the company’s stock, valued at C$172,810.44. The trade was a 78.63% decrease in their position. 0.02% of the stock is currently owned by company insiders.

About Canadian Imperial Bank of Commerce

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.