Canadian Imperial Bank of Commerce (TSE:CM) Given New C$96.00 Price Target at UBS Group

Canadian Imperial Bank of Commerce (TSE:CM) (NYSE:CM) had its target price dropped by equities researchers at UBS Group from C$102.00 to C$96.00 in a report issued on Friday,BayStreet.CA reports. UBS Group’s price objective indicates a potential upside of 8.81% from the company’s previous close.

CM has been the topic of a number of other reports. Scotiabank raised their price target on shares of Canadian Imperial Bank of Commerce from C$108.00 to C$114.00 in a research report on Friday, December 6th. Royal Bank of Canada raised shares of Canadian Imperial Bank of Commerce from a “sector perform” rating to an “outperform” rating and raised their price target for the stock from C$97.00 to C$103.00 in a research report on Wednesday, January 8th. Cormark raised their target price on shares of Canadian Imperial Bank of Commerce from C$99.00 to C$104.00 in a report on Friday, December 6th. BMO Capital Markets raised their target price on shares of Canadian Imperial Bank of Commerce from C$81.00 to C$99.00 in a report on Monday, November 18th. Finally, Canaccord Genuity Group raised their target price on shares of Canadian Imperial Bank of Commerce from C$92.00 to C$99.00 in a report on Friday, December 6th. One analyst has rated the stock with a sell rating, two have given a hold rating and nine have given a buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of C$94.58.

Canadian Imperial Bank of Commerce Stock Performance

TSE:CM traded up C$0.18 during mid-day trading on Friday, reaching C$88.23. 443,570 shares of the company’s stock were exchanged, compared to its average volume of 3,390,074. Canadian Imperial Bank of Commerce has a one year low of C$60.95 and a one year high of C$95.50. The firm has a market capitalization of C$82.54 billion, a PE ratio of 11.65, a price-to-earnings-growth ratio of 3.03 and a beta of 1.12. The business’s fifty day simple moving average is C$91.14 and its two-hundred day simple moving average is C$84.54.

Insider Transactions at Canadian Imperial Bank of Commerce

In other news, Senior Officer Susan Rimmer sold 1,000 shares of the business’s stock in a transaction dated Thursday, December 19th. The shares were sold at an average price of C$93.14, for a total transaction of C$93,140.00. Also, Senior Officer Frank Guse sold 5,360 shares of the business’s stock in a transaction dated Monday, December 9th. The stock was sold at an average price of C$93.28, for a total transaction of C$499,985.62. Following the sale, the insider now directly owns 440 shares of the company’s stock, valued at approximately C$41,043.60. The trade was a 92.41 % decrease in their ownership of the stock. In the last ninety days, insiders sold 177,012 shares of company stock valued at $16,687,218. Corporate insiders own 0.02% of the company’s stock.

Canadian Imperial Bank of Commerce Company Profile

Canadian Imperial Bank of Commerce is Canada’s fifth- largest bank, operating three business segments: retail and business banking, wealth management, and capital markets. It serves approximately 11 million personal banking and business customers, primarily in Canada.