Canadian Imperial Bank of Commerce (TSE:CM – Get Free Report) (NYSE:CM) had its target price raised by equities research analysts at Royal Bank of Canada from C$69.00 to C$74.00 in a report released on Friday, BayStreet.CA reports. The firm presently has a “sector perform” rating on the stock. Royal Bank of Canada’s target price points to a potential downside of 6.04% from the stock’s current price.
Other research analysts also recently issued reports about the company. Desjardins boosted their price objective on Canadian Imperial Bank of Commerce from C$77.00 to C$83.00 and gave the company a “buy” rating in a research note on Friday. BMO Capital Markets boosted their price objective on Canadian Imperial Bank of Commerce from C$77.00 to C$81.00 and gave the company an “outperform” rating in a research note on Friday. Scotiabank boosted their price objective 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. National Bankshares lifted their price target 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 note on Friday. Finally, UBS Group set a C$70.00 price objective on shares of Canadian Imperial Bank of Commerce and gave the stock a “neutral” rating in a research report on Tuesday, July 2nd. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and eight have issued a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of C$77.50.
View Our Latest Research Report on CM
Canadian Imperial Bank of Commerce Stock Performance
Canadian Imperial Bank of Commerce (TSE:CM – Get Free Report) (NYSE:CM) last issued its quarterly earnings results on Thursday, May 30th. The company reported C$1.75 EPS for the quarter, beating analysts’ consensus estimates of C$1.66 by C$0.09. Canadian Imperial Bank of Commerce had a net margin of 29.25% and a return on equity of 11.92%. The business had revenue of C$6.16 billion for the quarter, compared to analysts’ expectations of C$6.11 billion. As a group, sell-side analysts anticipate that Canadian Imperial Bank of Commerce will post 7.3207171 earnings per share for the current year.
Insiders Place Their Bets
In related news, Senior Officer John Hountalas sold 20,808 shares of the company’s stock in a transaction on Monday, June 24th. The stock was sold at an average price of C$65.97, for a total transaction of C$1,372,672.55. In related news, Senior Officer John Hountalas sold 20,808 shares of the stock in a transaction on Monday, June 24th. The stock was sold at an average price of C$65.97, for a total value of C$1,372,672.55. Also, Senior Officer Christina Charlotte Kramer sold 23,782 shares of the stock in a transaction on Friday, June 7th. The shares were sold at an average price of C$67.50, for a total value of C$1,605,285.00. Corporate insiders own 0.02% of the company’s stock.
About Canadian Imperial Bank of Commerce
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.
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