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 objective increased by stock analysts at BMO Capital Markets from C$81.00 to C$99.00 in a research note issued on Monday,BayStreet.CA reports. BMO Capital Markets’ target price indicates a potential upside of 10.33% from the company’s current price.

CM has been the subject of a number of other reports. Jefferies Financial Group lowered their price target on shares of Canadian Imperial Bank of Commerce from C$79.00 to C$78.00 and set a “buy” rating for the company in a research report on Monday, August 12th. Bank of America upgraded shares of Canadian Imperial Bank of Commerce from a “neutral” rating to a “buy” rating and raised their price objective for the company from C$74.00 to C$90.00 in a research note on Friday, August 30th. National Bankshares raised 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 note on Friday, August 30th. Cormark upgraded shares of Canadian Imperial Bank of Commerce from a “market perform” rating to a “buy” rating and raised their price objective for the company from C$75.00 to C$83.00 in a research note on Friday, August 30th. Finally, Desjardins lifted 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 research note on Friday, August 30th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat, Canadian Imperial Bank of Commerce has a consensus rating of “Moderate Buy” and a consensus target price of C$81.08.

Canadian Imperial Bank of Commerce Price Performance

CM traded up C$0.23 during trading on Monday, hitting C$89.73. 666,385 shares of the stock traded hands, compared to its average volume of 3,697,638. The firm has a market capitalization of C$84.79 billion, a P/E ratio of 12.99, a price-to-earnings-growth ratio of 3.03 and a beta of 1.12. The firm has a 50-day moving average of C$84.81 and a 200 day moving average of C$73.93. Canadian Imperial Bank of Commerce has a 12-month low of C$51.60 and a 12-month high of C$90.57.

Canadian Imperial Bank of Commerce (TSE:CM) (NYSE:CM) last posted its earnings results on Thursday, August 29th. The company reported C$1.93 EPS for the quarter, topping the consensus estimate 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 firm had revenue of C$6.60 billion during the quarter, compared to analysts’ expectations of C$6.31 billion. As a group, equities analysts predict that Canadian Imperial Bank of Commerce will post 6.4127341 EPS for the current fiscal year.

Insider Buying and Selling at Canadian Imperial Bank of Commerce

In other news, Senior Officer Hratch Dikran Panossian sold 5,530 shares of the business’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. Also, Director Harry Kenneth Culham sold 50,000 shares of the business’s stock in a transaction on Monday, September 9th. The stock was sold at an average price of C$81.87, for a total transaction of C$4,093,500.00. Insiders have sold 203,057 shares of company stock valued at $16,823,249 over the last 90 days. 0.02% of the stock is currently owned by corporate insiders.

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.