Credit Suisse Group Trims Canadian Imperial Bank of Commerce (NYSE:CM) Target Price to $104.00

Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) had its price target lowered by stock analysts at Credit Suisse Group from $105.00 to $104.00 in a report released on Friday, Stock Target Advisor reports. The firm currently has a “neutral” rating on the bank’s stock. Credit Suisse Group’s price objective points to a potential upside of 25.45% from the company’s current price.

CM has been the subject of several other reports. Canaccord Genuity cut their price objective on shares of Canadian Imperial Bank of Commerce from $112.50 to $108.00 and set a “hold” rating for the company in a research report on Friday. National Bank Financial reaffirmed a “hold” rating on shares of Canadian Imperial Bank of Commerce in a research report on Friday, August 23rd. Zacks Investment Research upgraded Canadian Imperial Bank of Commerce from a “hold” rating to a “buy” rating and set a $97.00 target price on the stock in a research note on Tuesday, December 3rd. Royal Bank of Canada reissued a “hold” rating and set a $124.00 price target (down from $128.00) on shares of Canadian Imperial Bank of Commerce in a report on Friday, August 23rd. Finally, ValuEngine downgraded Canadian Imperial Bank of Commerce from a “hold” rating to a “sell” rating in a research note on Monday, November 25th. One analyst has rated the stock with a sell rating, nine have given a hold rating and one has given a buy rating to the company’s stock. Canadian Imperial Bank of Commerce currently has a consensus rating of “Hold” and a consensus price target of $117.43.

NYSE CM opened at $82.90 on Friday. The firm has a 50-day moving average of $86.12 and a 200-day moving average of $80.66. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.87 and a current ratio of 0.87. The stock has a market cap of $36.94 billion, a PE ratio of 8.88, a P/E/G ratio of 2.91 and a beta of 1.17. Canadian Imperial Bank of Commerce has a 52-week low of $72.96 and a 52-week high of $87.62.

Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) last announced its earnings results on Thursday, December 5th. The bank reported $2.84 EPS for the quarter, topping the consensus estimate of $2.32 by $0.52. Canadian Imperial Bank of Commerce had a net margin of 18.39% and a return on equity of 15.92%. The business had revenue of $4.77 billion during the quarter, compared to the consensus estimate of $4.76 billion. During the same quarter in the previous year, the firm posted $3.00 EPS. Canadian Imperial Bank of Commerce’s revenue was up 7.2% compared to the same quarter last year. As a group, analysts predict that Canadian Imperial Bank of Commerce will post 9.2 EPS for the current fiscal year.

A number of institutional investors have recently modified their holdings of CM. Flagship Harbor Advisors LLC raised its holdings in Canadian Imperial Bank of Commerce by 78.3% in the 3rd quarter. Flagship Harbor Advisors LLC now owns 451 shares of the bank’s stock valued at $37,000 after acquiring an additional 198 shares in the last quarter. Liberty Wealth Management LLC lifted its position in shares of Canadian Imperial Bank of Commerce by 50.9% during the 3rd quarter. Liberty Wealth Management LLC now owns 637 shares of the bank’s stock valued at $53,000 after acquiring an additional 215 shares during the period. Private Capital Group LLC lifted its position in shares of Canadian Imperial Bank of Commerce by 116.9% during the 2nd quarter. Private Capital Group LLC now owns 616 shares of the bank’s stock valued at $54,000 after acquiring an additional 332 shares during the period. CWM LLC grew its holdings in shares of Canadian Imperial Bank of Commerce by 86.7% during the 2nd quarter. CWM LLC now owns 758 shares of the bank’s stock worth $60,000 after purchasing an additional 352 shares in the last quarter. Finally, Cornerstone Advisors Inc. grew its holdings in shares of Canadian Imperial Bank of Commerce by 34.1% during the 3rd quarter. Cornerstone Advisors Inc. now owns 1,054 shares of the bank’s stock worth $87,000 after purchasing an additional 268 shares in the last quarter. Institutional investors and hedge funds own 44.29% 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 four strategic business units: Canadian Personal and Small Business Banking; Canadian Commercial Banking and Wealth Management; U.S.

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