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

Canadian Imperial Bank of Commerce logo with Financial Services background

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.

Check Out Our Latest Analysis on CM

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

(Get Free Report)

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.

Further Reading

Analyst Recommendations for Canadian Imperial Bank of Commerce (TSE:CM)

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