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

Key Points

• Analysts at National Bankshares have increased their price target for Canadian Imperial Bank of Commerce (CIBC) from C$98.00 to C$99.00, indicating a potential downside of 3.24% from the current share price.
• The stock currently holds a consensus rating of "Moderate Buy" with an average target price of C$99.46, reflecting mixed ratings from analysts, including one sell, four hold, and six buy ratings.
• CIBC's share price recently rose by 0.3% to C$102.31, with a market capitalization of C$95.72 billion and a PE ratio of 13.51.

Canadian Imperial Bank of Commerce (TSE:CM - Get Free Report) NYSE: CM had its price objective boosted by investment analysts at National Bankshares from C$98.00 to C$99.00 in a research note issued on Friday,BayStreet.CA reports. The firm currently has a "sector perform" rating on the stock. National Bankshares' target price would indicate a potential downside of 3.24% from the company's current price.

CM has been the topic of a number of other research reports. Canaccord Genuity Group set a C$96.00 price target on shares of Canadian Imperial Bank of Commerce and gave the company a "hold" rating in a report on Tuesday, June 24th. Barclays raised their price target on shares of Canadian Imperial Bank of Commerce from C$94.00 to C$96.00 and gave the company an "underweight" rating in a report on Thursday. Jefferies Financial Group raised their price objective on shares of Canadian Imperial Bank of Commerce from C$94.00 to C$102.00 in a report on Wednesday. Desjardins lifted their price target on shares of Canadian Imperial Bank of Commerce from C$100.00 to C$106.00 and gave the company a "buy" rating in a report on Wednesday. Finally, Royal Bank Of Canada lowered their target price on shares of Canadian Imperial Bank of Commerce from C$116.00 to C$112.00 and set an "outperform" rating on the stock in a report on Monday, June 9th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, six have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of C$99.46.

Canadian Imperial Bank of Commerce Stock Up 0.3%

Shares of TSE:CM traded up C$0.31 on Friday, hitting C$102.31. 923,149 shares of the company traded hands, compared to its average volume of 3,623,833. Canadian Imperial Bank of Commerce has a 52 week low of C$70.71 and a 52 week high of C$102.45. The stock has a 50 day simple moving average of C$97.93 and a 200-day simple moving average of C$90.18. The company has a market cap of C$95.72 billion, a PE ratio of 13.51, a PEG ratio of 3.03 and a beta of 1.12.

Insider Buying and Selling at Canadian Imperial Bank of Commerce

In other news, Senior Officer Hratch Dikran Panossian sold 9,006 shares of the business's stock in a transaction dated Monday, June 23rd. The stock was sold at an average price of C$94.96, for a total transaction of C$855,240.38. Also, Senior Officer John Hountalas sold 32,018 shares of the business's stock in a transaction dated Thursday, June 5th. The stock was sold at an average price of C$93.87, for a total value of C$3,005,657.73. Insiders sold 105,837 shares of company stock valued at $9,903,590 in the last 90 days. Corporate insiders own 0.02% of the company's stock.

About Canadian Imperial Bank of Commerce

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.