Canadian Imperial Bank of Commerce (TSE:CM) Stock Price Expected to Rise, Royal Bank of Canada Analyst Says

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

Other equities analysts also recently issued reports about the company. BMO Capital Markets increased their target price on Canadian Imperial Bank of Commerce from C$81.00 to C$99.00 in a research note on Monday, November 18th. Cormark raised their price objective on Canadian Imperial Bank of Commerce from C$99.00 to C$104.00 in a research note on Friday, December 6th. TD Securities lifted their price target on shares of Canadian Imperial Bank of Commerce from C$91.00 to C$98.00 in a report on Friday, November 15th. National Bankshares lifted their price target on shares of Canadian Imperial Bank of Commerce from C$86.00 to C$94.00 in a research note on Wednesday, November 20th. Finally, Canaccord Genuity Group raised their price target on Canadian Imperial Bank of Commerce from C$92.00 to C$99.00 in a report on Friday, December 6th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and nine have assigned a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of C$93.50.

Canadian Imperial Bank of Commerce Trading Up 0.3 %

Shares of TSE CM traded up C$0.24 during mid-day trading 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 50 day simple moving average of C$89.81 and a two-hundred day simple moving average of C$85.73. The stock has a market cap of C$81.09 billion, a P/E ratio of 11.45, a PEG ratio of 3.03 and a beta of 1.12. Canadian Imperial Bank of Commerce has a 52-week low of C$63.20 and a 52-week high of C$95.50.

Insider Activity at Canadian Imperial Bank of Commerce

In related news, Senior Officer Susan Rimmer sold 1,000 shares of the company’s stock in a transaction that occurred on Thursday, December 19th. The stock was sold at an average price of C$93.14, for a total transaction of C$93,140.00. Also, Director Victor George Dodig sold 150,000 shares of the firm’s stock in a transaction dated Tuesday, December 10th. The shares were sold at an average price of C$94.22, for a total transaction of C$14,132,865.00. Insiders sold a total of 177,012 shares of company stock worth $16,687,218 in the last quarter. Corporate insiders own 0.02% of the company’s stock.

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.