Canadian Imperial Bank of Commerce (TSE:CM) Given New C$94.00 Price Target at National Bankshares

Canadian Imperial Bank of Commerce (TSE:CM) (NYSE:CM) had its price target lifted by research analysts at National Bankshares from C$86.00 to C$94.00 in a report released on Wednesday,BayStreet.CA reports. National Bankshares’ price target suggests a potential upside of 3.89% from the company’s current price.

Several other research analysts have also weighed in on CM. Royal Bank of Canada lifted their target price on Canadian Imperial Bank of Commerce from C$69.00 to C$74.00 and gave the stock a “sector perform” rating in a report on Friday, August 30th. Cormark upgraded Canadian Imperial Bank of Commerce from a “market perform” rating to a “buy” rating and lifted their target price for the stock from C$75.00 to C$83.00 in a report on Friday, August 30th. BMO Capital Markets increased their price objective on Canadian Imperial Bank of Commerce from C$81.00 to C$99.00 in a report on Monday. Barclays boosted their target price 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. Finally, Bank of America raised shares of Canadian Imperial Bank of Commerce from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from C$74.00 to C$90.00 in a research report on Friday, August 30th. One 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’s stock. Based on data from MarketBeat.com, Canadian Imperial Bank of Commerce presently has a consensus rating of “Moderate Buy” and an average target price of C$83.00.

Canadian Imperial Bank of Commerce Trading Up 0.7 %

Shares of TSE:CM traded up C$0.63 during midday trading on Wednesday, hitting C$90.48. The company had a trading volume of 992,391 shares, compared to its average volume of 3,683,757. Canadian Imperial Bank of Commerce has a 12 month low of C$51.60 and a 12 month high of C$90.70. The stock has a market cap of C$85.50 billion, a price-to-earnings ratio of 13.09, a PEG ratio of 3.03 and a beta of 1.12. The firm has a fifty day simple moving average of C$85.04 and a 200 day simple moving average of C$74.10.

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

Insider Buying and Selling at Canadian Imperial Bank of Commerce

In related news, Director Harry Kenneth Culham sold 50,000 shares of the firm’s stock in a transaction dated Wednesday, September 25th. The shares were sold at an average price of C$83.42, for a total transaction of C$4,170,750.00. Also, Senior Officer Christina Charlotte Kramer sold 37,022 shares of the firm’s stock in a transaction dated 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. Insiders sold a total of 203,057 shares of company stock worth $16,823,249 over the last quarter. 0.02% of the stock is currently owned by insiders.

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.