BMO Capital Markets Increases Canadian Imperial Bank of Commerce (TSE:CM) Price Target to C$99.00

Canadian Imperial Bank of Commerce (TSE:CM) (NYSE:CM) had its price target boosted by equities research analysts at BMO Capital Markets from C$81.00 to C$99.00 in a note issued to investors on Monday,BayStreet.CA reports. BMO Capital Markets’ price target suggests a potential upside of 10.33% from the company’s current price.

A number of other research firms have also recently weighed in on CM. National Bankshares boosted their price objective on shares of Canadian Imperial Bank of Commerce from C$78.00 to C$86.00 and gave the company an “outperform” rating in a research report on Friday, August 30th. Desjardins upped their price target on shares of Canadian Imperial Bank of Commerce from C$77.00 to C$83.00 and gave the stock a “buy” rating in a report on Friday, August 30th. Scotiabank upped their price target on shares of Canadian Imperial Bank of Commerce from C$77.00 to C$85.00 and gave the stock an “outperform” rating in a report on Friday, August 30th. Barclays upped their price target on shares of Canadian Imperial Bank of Commerce from C$71.00 to C$77.00 and gave the stock an “underweight” rating in a report on Friday, August 30th. Finally, TD Securities upped their price target on shares of Canadian Imperial Bank of Commerce from C$91.00 to C$98.00 in a report on Friday. One analyst has rated the stock with a sell rating, three have assigned a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat, Canadian Imperial Bank of Commerce presently has an average rating of “Moderate Buy” and a consensus target price of C$81.08.

Canadian Imperial Bank of Commerce Stock Performance

CM stock traded up C$0.23 during mid-day trading on Monday, reaching C$89.73. 666,385 shares of the stock traded hands, compared to its average volume of 3,697,638. Canadian Imperial Bank of Commerce has a one year low of C$51.60 and a one year high of C$90.57. The stock has a market capitalization of C$84.79 billion, a PE ratio of 12.99, a PEG ratio of 3.03 and a beta of 1.12. The business has a 50-day moving average price of C$84.81 and a two-hundred day moving average price of C$73.93.

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

Insider Buying and Selling at Canadian Imperial Bank of Commerce

In related news, Senior Officer Hratch Dikran Panossian sold 5,530 shares of the stock in a transaction that occurred 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. Also, Senior Officer Shawn Beber sold 10,000 shares of the stock in a transaction that occurred on Tuesday, September 10th. The shares were sold at an average price of C$81.80, for a total transaction of C$817,960.00. Over the last ninety days, insiders sold 203,057 shares of company stock valued at $16,823,249. 0.02% of the stock is currently owned by insiders.

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.