Canadian Imperial Bank of Commerce (TSE:CM) Given New C$94.00 Price Target at National Bankshares

Canadian Imperial Bank of Commerce (TSE:CM) (NYSE:CM) had its price objective lifted by equities research analysts at National Bankshares from C$86.00 to C$94.00 in a note issued to investors on Wednesday,BayStreet.CA reports. National Bankshares’ target price indicates a potential upside of 3.89% from the company’s current price.

CM has been the subject of several other research reports. Royal Bank of Canada upped their price target on Canadian Imperial Bank of Commerce from C$69.00 to C$74.00 and gave the stock a “sector perform” rating in a research note on Friday, August 30th. Barclays increased their target price on Canadian Imperial Bank of Commerce from C$71.00 to C$77.00 and gave the company an “underweight” rating in a research note on Friday, August 30th. Cormark upgraded Canadian Imperial Bank of Commerce from a “market perform” rating to a “buy” rating and increased their target price for the company from C$75.00 to C$83.00 in a research note on Friday, August 30th. Jefferies Financial Group decreased their target price on Canadian Imperial Bank of Commerce from C$79.00 to C$78.00 and set a “buy” rating for the company in a research note on Monday, August 12th. Finally, Scotiabank increased their target price on Canadian Imperial Bank of Commerce from C$77.00 to C$85.00 and gave the company an “outperform” rating in a research note on Friday, August 30th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of C$83.00.

Canadian Imperial Bank of Commerce Stock Performance

TSE:CM traded up C$0.63 during trading hours on Wednesday, hitting C$90.48. 992,391 shares of the company’s stock traded hands, compared to its average volume of 3,683,757. The firm has a market cap of C$85.50 billion, a P/E ratio of 13.09, a P/E/G ratio of 3.03 and a beta of 1.12. Canadian Imperial Bank of Commerce has a twelve month low of C$51.60 and a twelve month high of C$90.70. The stock’s fifty day moving average price is C$85.04 and its two-hundred day moving average price is C$74.10.

Canadian Imperial Bank of Commerce (TSE:CM) (NYSE:CM) last posted its quarterly earnings results on Thursday, August 29th. The company reported C$1.93 earnings per share for the quarter, beating the consensus estimate of C$1.75 by C$0.18. The firm had revenue of C$6.60 billion for the quarter, compared to analyst estimates of C$6.31 billion. Canadian Imperial Bank of Commerce had a return on equity of 12.37% and a net margin of 29.56%. On average, equities research analysts predict that Canadian Imperial Bank of Commerce will post 6.4127341 earnings per share for the current year.

Insider Transactions at Canadian Imperial Bank of Commerce

In related news, Senior Officer Shawn Beber sold 10,000 shares of the firm’s stock in a transaction on Tuesday, September 10th. The stock was sold at an average price of C$81.80, for a total transaction of C$817,960.00. Also, Senior Officer Hratch Dikran Panossian sold 5,530 shares of the firm’s stock in a transaction on Thursday, September 5th. The shares were sold at an average price of C$79.89, for a total value of C$441,791.70. In the last ninety days, insiders sold 203,057 shares of company stock valued at $16,823,249. Corporate insiders own 0.02% of the company’s stock.

Canadian Imperial Bank of Commerce Company Profile

Canadian Imperial Bank of Commerce, a diversified financial institution, provides various financial products and services to personal, business, public sector, and institutional clients in Canada, the United States, and internationally. The company operates through Canadian Personal and Business Banking; Canadian Commercial Banking and Wealth Management; U.S.