Canadian Imperial Bank of Commerce (TSE:CM) PT Set at C$180.00 by National Bank Financial

Key Points

• National Bank Financial set a C$180.00 price target for Canadian Imperial Bank of Commerce and maintained a “sector perform” rating, implying 12.98% potential upside.
• Analyst sentiment remains cautious overall: MarketBeat reports an average rating of “Hold” and an average price target of C$165.46, based on five Buy and seven Hold ratings.
• CIBC shares recently traded at C$159.32, while insiders sold 17,776 shares worth approximately C$2.82 million over the past 90 days.

Canadian Imperial Bank of Commerce (TSE:CM - Get Free Report) NYSE: CM has been given a C$180.00 price objective by research analysts at National Bank Financial in a report issued on Monday,BayStreet.CA reports. The brokerage presently has a "sector perform" rating on the stock. National Bank Financial's price target indicates a potential upside of 12.98% from the company's current price.

Other equities analysts have also recently issued reports about the company. Raymond James Financial increased their price target on Canadian Imperial Bank of Commerce from C$155.50 to C$173.50 and gave the stock a "market perform" rating in a report on Wednesday, August 12th. Scotiabank upped their target price on shares of Canadian Imperial Bank of Commerce from C$155.00 to C$157.00 and gave the company a "sector perform" rating in a research report on Tuesday, June 16th. Desjardins cut Canadian Imperial Bank of Commerce from a "buy" rating to a "hold" rating and upped their price target for the stock from C$160.00 to C$173.00 in a research note on Wednesday, August 5th. Canaccord Genuity Group raised their price target on Canadian Imperial Bank of Commerce from C$160.00 to C$168.00 and gave the stock a "hold" rating in a research report on Tuesday, July 7th. Finally, TD lifted their price objective on Canadian Imperial Bank of Commerce from C$163.00 to C$175.00 and gave the company a "buy" rating in a research note on Wednesday, August 12th. Five analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and an average target price of C$165.46.

Canadian Imperial Bank of Commerce Price Performance

CM traded down C$1.00 during trading hours on Monday, reaching C$159.32. The company's stock had a trading volume of 400,703 shares, compared to its average volume of 2,505,967. The stock has a market cap of C$145.43 billion, a PE ratio of 15.81, a P/E/G ratio of 3.03 and a beta of 1.40. Canadian Imperial Bank of Commerce has a fifty-two week low of C$100.43 and a fifty-two week high of C$172.87. The business's 50-day moving average is C$164.70 and its 200-day moving average is C$150.24.

Canadian Imperial Bank of Commerce (TSE:CM - Get Free Report) NYSE: CM last posted its earnings results on Thursday, May 28th. The company reported C$2.54 earnings per share (EPS) for the quarter. Canadian Imperial Bank of Commerce had a return on equity of 15.24% and a net margin of 18.44%.The company had revenue of C$8.01 billion during the quarter. Analysts expect that Canadian Imperial Bank of Commerce will post 6.4127341 EPS for the current year.

Insider Transactions at Canadian Imperial Bank of Commerce

In related news, insider Christopher John Anderson sold 8,490 shares of the company's stock in a transaction that occurred on Thursday, June 11th. The shares were sold at an average price of C$155.50, for a total transaction of C$1,320,195.00. Following the sale, the insider directly owned 6,252 shares in the company, valued at approximately C$972,186. This represents a 57.59% decrease in their ownership of the stock. Also, insider Stephen Alan Scholtz sold 6,000 shares of the firm's stock in a transaction that occurred on Wednesday, June 24th. The shares were sold at an average price of C$162.70, for a total transaction of C$976,200.00. Over the last ninety days, insiders sold 17,776 shares of company stock valued at $2,817,744. 0.02% of the stock is currently owned by corporate insiders.

Canadian Imperial Bank of Commerce Company Profile

CIBC is a leading North American financial institution with 15 million personal banking, business, public sector and institutional clients. Across Personal and Business Banking, Commercial Banking and Wealth Management, and Capital Markets, CIBC offers a full range of advice, solutions and services through its leading digital banking network, and locations across Canada, in the United States and around the world.

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