Royal Bank of Canada Has Lowered Expectations for Canadian Imperial Bank of Commerce (TSE:CM) Stock Price

Canadian Imperial Bank of Commerce (TSE:CM - Get Free Report) NYSE: CM had its price target decreased by equities research analysts at Royal Bank of Canada from C$116.00 to C$112.00 in a research report issued to clients and investors on Monday,BayStreet.CA reports. The brokerage presently has an "outperform" rating on the stock. Royal Bank of Canada's price target points to a potential upside of 20.52% from the stock's previous close.

CM has been the subject of a number of other reports. National Bankshares set a C$95.00 price objective on shares of Canadian Imperial Bank of Commerce and gave the stock an "outperform" rating in a research note on Thursday, May 22nd. Jefferies Financial Group cut shares of Canadian Imperial Bank of Commerce from a "buy" rating to a "hold" rating and dropped their price objective for the stock from C$100.00 to C$89.00 in a research note on Monday, April 21st. UBS Group dropped their price objective on shares of Canadian Imperial Bank of Commerce from C$102.00 to C$96.00 in a research note on Friday, February 14th. Canaccord Genuity Group dropped their price objective on shares of Canadian Imperial Bank of Commerce from C$93.00 to C$92.00 in a research note on Monday, May 12th. Finally, National Bank Financial cut shares of Canadian Imperial Bank of Commerce from an "outperform" rating to a "sector perform" rating in a research note on Thursday, May 29th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, seven have given a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, Canadian Imperial Bank of Commerce has an average rating of "Moderate Buy" and an average price target of C$95.92.

Canadian Imperial Bank of Commerce Stock Up 0.1%

TSE CM traded up C$0.06 on Monday, reaching C$92.93. The company had a trading volume of 2,115,123 shares, compared to its average volume of 3,817,381. The stock has a market capitalization of C$86.94 billion, a PE ratio of 12.27, a price-to-earnings-growth ratio of 3.03 and a beta of 1.12. The firm's 50 day moving average price is C$87.77 and its 200 day moving average price is C$88.00. Canadian Imperial Bank of Commerce has a 12 month low of C$64.63 and a 12 month high of C$96.45.

Insider Buying and Selling

In other news, Senior Officer John Hountalas sold 32,018 shares of the business's stock in a transaction dated Thursday, June 5th. The shares were sold at an average price of C$93.87, for a total value of C$3,005,657.73. Also, Senior Officer Shawn Beber sold 9,107 shares of the business's stock in a transaction dated Friday, June 6th. The shares were sold at an average price of C$94.28, for a total transaction of C$858,567.89. In the last ninety days, insiders sold 85,642 shares of company stock valued at $7,995,304. Company 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.