Canadian Imperial Bank of Commerce (TSE:CM) Stock Price Expected to Rise, National Bankshares Analyst Says

Canadian Imperial Bank of Commerce (TSE:CM) (NYSE:CM) had its price objective upped by equities researchers at National Bankshares from C$86.00 to C$94.00 in a research report issued on Wednesday,BayStreet.CA reports. National Bankshares’ price target would suggest a potential upside of 3.17% from the company’s current price.

A number of other equities analysts have also recently issued reports on the stock. BMO Capital Markets increased their price objective on shares of Canadian Imperial Bank of Commerce from C$81.00 to C$99.00 in a research report on Monday. Barclays raised their price objective on Canadian Imperial Bank of Commerce from C$71.00 to C$77.00 and gave the company an “underweight” rating in a research note on Friday, August 30th. Bank of America raised Canadian Imperial Bank of Commerce from a “neutral” rating to a “buy” rating and upped their target price for the stock from C$74.00 to C$90.00 in a research report on Friday, August 30th. Scotiabank lifted their price target on shares of Canadian Imperial Bank of Commerce from C$77.00 to C$85.00 and gave the company an “outperform” rating in a research report on Friday, August 30th. Finally, Canaccord Genuity Group upped their price objective on shares of Canadian Imperial Bank of Commerce from C$81.00 to C$92.00 in a report on Tuesday. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of C$83.00.

Canadian Imperial Bank of Commerce Trading Up 0.4 %

Shares of CM stock opened at C$91.11 on Wednesday. Canadian Imperial Bank of Commerce has a 1-year low of C$51.60 and a 1-year high of C$91.39. The stock has a market cap of C$86.10 billion, a price-to-earnings ratio of 13.19, a PEG ratio of 3.03 and a beta of 1.12. The stock has a 50-day moving average of C$85.47 and a 200-day moving average of C$74.46.

Canadian Imperial Bank of Commerce (TSE:CM) (NYSE:CM) last released its earnings results on Thursday, August 29th. The company reported C$1.93 earnings per share (EPS) for the quarter, beating the consensus estimate of C$1.75 by C$0.18. Canadian Imperial Bank of Commerce had a net margin of 29.56% and a return on equity of 12.37%. The business had revenue of C$6.60 billion for the quarter, compared to analyst estimates of C$6.31 billion. Sell-side analysts forecast that Canadian Imperial Bank of Commerce will post 6.4127341 earnings per share for the current year.

Insider Transactions at Canadian Imperial Bank of Commerce

In other news, Senior Officer Hratch Dikran Panossian sold 5,530 shares of the stock in a transaction that occurred on Thursday, September 5th. The shares were sold at an average price of C$79.89, for a total transaction of C$441,791.70. Also, Senior Officer Christina Charlotte Kramer sold 37,022 shares of the stock in a transaction on Monday, September 16th. The shares were sold at an average price of C$83.40, for a total value of C$3,087,634.80. In the last quarter, insiders sold 203,057 shares of company stock valued at $16,823,249. Corporate insiders own 0.02% of the company’s stock.

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.