Canadian Imperial Bank of Commerce (TSE:CM) PT Set at C$170.00 by Desjardins

Canadian Imperial Bank of Commerce (TSE:CM – Get Free Report) (NYSE:CM) has been given a C$170.00 price target by investment analysts at Desjardins in a research report issued to clients and investors on Wednesday, BayStreet reports. The brokerage currently has a “hold” rating on the stock. Desjardins‘s price target points to a potential upside of 2.29% from the company’s previous close.

A number of other equities research analysts have also commented on CM. Keefe, Bruyette & Woods set a C$186.00 price objective on shares of Canadian Imperial Bank of Commerce and gave the stock a “hold” rating in a report on Friday, August 21st. Raymond James Financial upped their target price on shares of Canadian Imperial Bank of Commerce from C$155.50 to C$173.50 and gave the stock a “market perform” rating in a research note on Wednesday, August 12th. Jefferies Financial Group increased their target price on Canadian Imperial Bank of Commerce from C$153.00 to C$154.00 in a report on Thursday, September 3rd. National Bank Financial set a C$180.00 target price on Canadian Imperial Bank of Commerce and gave the stock a “sector perform” rating in a report on Monday, August 24th. Finally, TD lifted their price target 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 investment analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, Canadian Imperial Bank of Commerce presently has an average rating of “Hold” and an average price target of C$167.79.

Check Out Our Latest Stock Analysis on CM

Canadian Imperial Bank of Commerce Stock Performance

TSE CM traded up C$1.95 during trading hours on Wednesday, reaching C$166.19. 543,351 shares of the company’s stock were exchanged, compared to its average volume of 2,468,036. The company has a market capitalization of C$150.89 billion, a price-to-earnings ratio of 15.95, a price-to-earnings-growth ratio of 3.03 and a beta of 1.23. The company’s 50-day moving average is C$159.98 and its two-hundred day moving average is C$152.19. Canadian Imperial Bank of Commerce has a one year low of C$116.65 and a one year high of C$172.87.

Canadian Imperial Bank of Commerce (TSE:CM – Get Free Report) (NYSE:CM) last announced its quarterly earnings results on Thursday, August 27th. The company reported C$2.73 earnings per share for the quarter. The firm had revenue of C$8.37 billion for the quarter. Canadian Imperial Bank of Commerce had a net margin of 16.13% and a return on equity of 15.44%. Research analysts predict that Canadian Imperial Bank of Commerce will post 6.41 earnings per share for the current fiscal year.

Insider Activity at Canadian Imperial Bank of Commerce

In related news, insider Amy Florence South sold 4,218 shares of the stock in a transaction on Tuesday, September 22nd. The shares were sold at an average price of C$161.41, for a total transaction of C$680,827.38. 0.02% of the stock is currently owned by corporate insiders.

Canadian Imperial Bank of Commerce Company Profile

(Get Free Report)

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, 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.

Further Reading

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

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