Canadian Imperial Bank of Commerce (TSE:CM – Get Rating) (NYSE:CM) had its price objective hoisted by equities research analysts at Royal Bank of Canada from C$69.00 to C$72.00 in a research note issued on Friday, BayStreet.CA reports. The firm presently has a “sector perform” rating on the stock. Royal Bank of Canada’s target price points to a potential upside of 25.17% from the company’s current price.
Other equities analysts have also issued reports about the company. National Bankshares cut their price objective on Canadian Imperial Bank of Commerce from C$64.00 to C$62.00 in a research note on Thursday, May 18th. BMO Capital Markets cut their price target on shares of Canadian Imperial Bank of Commerce from C$70.00 to C$69.00 in a research report on Monday, February 27th. CSFB decreased their target price on Canadian Imperial Bank of Commerce from C$65.00 to C$60.00 in a research note on Tuesday, May 16th. Canaccord Genuity Group increased their price target on Canadian Imperial Bank of Commerce from C$66.00 to C$66.50 in a report on Monday, February 27th. Finally, Cormark lifted their price objective on shares of Canadian Imperial Bank of Commerce from C$61.00 to C$64.00 in a research note on Friday. Eight research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of C$65.14.
Canadian Imperial Bank of Commerce Price Performance
CM traded up C$0.74 on Friday, hitting C$57.52. 1,022,296 shares of the stock were exchanged, compared to its average volume of 3,418,150. Canadian Imperial Bank of Commerce has a 12 month low of C$53.58 and a 12 month high of C$71.10. The firm has a market capitalization of C$52.44 billion, a price-to-earnings ratio of 11.46, a PEG ratio of 27.22 and a beta of 1.04. The business has a 50-day moving average of C$56.70 and a two-hundred day moving average of C$58.72.
Insider Transactions at Canadian Imperial Bank of Commerce
In other Canadian Imperial Bank of Commerce news, Director Victor George Dodig purchased 34,850 shares of the company’s stock in a transaction dated Thursday, March 16th. The stock was purchased at an average price of C$57.65 per share, for a total transaction of C$2,009,102.50. Corporate insiders own 0.06% of the company’s stock.
About Canadian Imperial Bank of Commerce
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.
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