Canadian Imperial Bank of Commerce (TSE:CM) Given New C$108.00 Price Target at Royal Bank of Canada

Canadian Imperial Bank of Commerce (TSE:CM) (NYSE:CM) had its target price increased by investment analysts at Royal Bank of Canada from C$103.00 to C$108.00 in a research report issued on Friday,BayStreet.CA reports. Royal Bank of Canada’s price target indicates a potential upside of 24.61% from the stock’s current price.

Other equities research analysts have also issued reports about the stock. TD Securities increased their target price on shares of Canadian Imperial Bank of Commerce from C$91.00 to C$98.00 in a report on Friday, November 15th. Scotiabank lowered their target price on shares of Canadian Imperial Bank of Commerce from C$114.00 to C$95.00 and set an “outperform” rating on the stock in a research note on Thursday, February 20th. BMO Capital Markets increased their price target on Canadian Imperial Bank of Commerce from C$81.00 to C$99.00 in a research note on Monday, November 18th. UBS Group lowered their price objective on Canadian Imperial Bank of Commerce from C$102.00 to C$96.00 in a research report on Friday, February 14th. Finally, Cormark increased their target price on Canadian Imperial Bank of Commerce from C$99.00 to C$104.00 in a research report on Friday, December 6th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and nine have given a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of C$93.50.

Canadian Imperial Bank of Commerce Stock Performance

Shares of CM stock traded up C$0.24 during trading hours on Friday, reaching C$86.67. The company had a trading volume of 875,527 shares, compared to its average volume of 3,141,765. The firm has a market cap of C$81.09 billion, a PE ratio of 11.45, a price-to-earnings-growth ratio of 3.03 and a beta of 1.12. The business has a fifty day moving average price of C$89.81 and a 200-day moving average price of C$85.73. Canadian Imperial Bank of Commerce has a one year low of C$63.20 and a one year high of C$95.50.

Insider Transactions at Canadian Imperial Bank of Commerce

In other Canadian Imperial Bank of Commerce news, Senior Officer Susan Rimmer sold 1,000 shares of the company’s stock in a transaction dated Thursday, December 19th. The shares were sold at an average price of C$93.14, for a total value of C$93,140.00. Also, Senior Officer Frank Guse sold 5,360 shares of the company’s stock in a transaction dated Monday, December 9th. The shares were sold at an average price of C$93.28, for a total transaction of C$499,985.62. Following the transaction, the insider now owns 440 shares in the company, valued at approximately C$41,043.60. This trade represents a 92.41 % decrease in their position. In the last quarter, insiders sold 177,012 shares of company stock worth $16,687,218. 0.02% of the stock is currently owned by insiders.

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.