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

Canadian Imperial Bank of Commerce (TSE:CM) (NYSE:CM) had its target price raised by equities researchers at Scotiabank from C$85.00 to C$108.00 in a research note issued on Monday,BayStreet.CA reports. Scotiabank’s price target suggests a potential upside of 17.90% from the stock’s previous close.

A number of other analysts also recently issued reports on the stock. TD Securities boosted their price objective on shares of Canadian Imperial Bank of Commerce from C$91.00 to C$98.00 in a report on Friday, November 15th. Desjardins boosted their price objective on shares of Canadian Imperial Bank of Commerce from C$77.00 to C$83.00 and gave the company a “buy” rating in a report on Friday, August 30th. National Bankshares upped their price target on shares of Canadian Imperial Bank of Commerce from C$86.00 to C$94.00 in a report on Wednesday, November 20th. BMO Capital Markets upped their price target on shares of Canadian Imperial Bank of Commerce from C$81.00 to C$99.00 in a report on Monday, November 18th. Finally, Cormark raised shares of Canadian Imperial Bank of Commerce from a “market perform” rating to a “buy” rating and upped their price target for the stock from C$75.00 to C$83.00 in a report on Friday, August 30th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and eight have given a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of C$87.17.

Canadian Imperial Bank of Commerce Trading Up 0.1 %

Shares of Canadian Imperial Bank of Commerce stock traded up C$0.12 during trading on Monday, hitting C$91.60. 830,509 shares of the stock were exchanged, compared to its average volume of 3,670,358. The stock has a market capitalization of C$86.56 billion, a price-to-earnings ratio of 13.23, a price-to-earnings-growth ratio of 3.03 and a beta of 1.12. The company has a fifty day moving average price of C$85.69 and a 200-day moving average price of C$74.65. Canadian Imperial Bank of Commerce has a 1-year low of C$51.60 and a 1-year high of C$92.17.

Canadian Imperial Bank of Commerce (TSE:CM) (NYSE:CM) last announced its quarterly earnings results on Thursday, August 29th. The company reported C$1.93 EPS for the quarter, beating analysts’ consensus estimates 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. Equities research analysts forecast that Canadian Imperial Bank of Commerce will post 6.4127341 EPS for the current fiscal year.

Insider Transactions at Canadian Imperial Bank of Commerce

In related news, Director Harry Kenneth Culham sold 800 shares of Canadian Imperial Bank of Commerce stock in a transaction on Monday, September 30th. The shares were sold at an average price of C$83.20, for a total value of C$66,560.00. Also, Senior Officer Christina Charlotte Kramer sold 37,022 shares of Canadian Imperial Bank of Commerce stock in a transaction on Monday, September 16th. The stock was sold at an average price of C$83.40, for a total transaction of C$3,087,634.80. In the last ninety days, insiders sold 203,057 shares of company stock worth $16,823,249. 0.02% of the stock is currently owned by insiders.

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.