Canadian Imperial Bank of Commerce (TSE:CM) Stock Rating Upgraded by Desjardins

Canadian Imperial Bank of Commerce (TSE:CM) (NYSE:CM) was upgraded by research analysts at Desjardins from a “hold” rating to a “moderate buy” rating in a report released on Friday, Marketbeat Ratings reports. The firm currently has a C$77.00 price target on the stock, up from their prior price target of C$71.00. Desjardins’ price objective would suggest a potential upside of 12.21% from the stock’s current price.

CM has been the subject of several other reports. Scotiabank lifted their price target on shares of Canadian Imperial Bank of Commerce from C$73.00 to C$77.00 and gave the company an “outperform” rating in a research note on Friday, May 31st. Jefferies Financial Group lifted their price target on shares of Canadian Imperial Bank of Commerce from C$78.00 to C$79.00 and gave the company a “buy” rating in a research note on Thursday, June 6th. National Bankshares lifted their price target on shares of Canadian Imperial Bank of Commerce from C$76.00 to C$78.00 and gave the company an “outperform” rating in a research note on Friday, May 31st. UBS Group set a C$70.00 price target on shares of Canadian Imperial Bank of Commerce and gave the company a “neutral” rating in a research note on Tuesday, July 2nd. Finally, Royal Bank of Canada lifted their price objective on shares of Canadian Imperial Bank of Commerce from C$68.00 to C$69.00 and gave the company a “sector perform” rating in a report on Friday, May 31st. One analyst has rated the stock with a sell rating, six have given a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of C$70.07.

Canadian Imperial Bank of Commerce Price Performance

TSE CM traded down C$0.41 during mid-day trading on Friday, reaching C$68.62. 6,172,694 shares of the stock were exchanged, compared to its average volume of 3,824,763. Canadian Imperial Bank of Commerce has a one year low of C$47.44 and a one year high of C$71.77. The stock has a 50 day simple moving average of C$67.36 and a 200-day simple moving average of C$65.84. The stock has a market cap of C$64.32 billion, a P/E ratio of 10.59, a P/E/G ratio of 3.01 and a beta of 1.11.

Canadian Imperial Bank of Commerce (TSE:CM) (NYSE:CM) last announced its earnings results on Thursday, May 30th. The company reported C$1.75 earnings per share for the quarter, topping analysts’ consensus estimates of C$1.66 by C$0.09. Canadian Imperial Bank of Commerce had a net margin of 29.50% and a return on equity of 12.14%. The business had revenue of C$6.16 billion during the quarter, compared to the consensus estimate of C$6.11 billion. Sell-side analysts anticipate that Canadian Imperial Bank of Commerce will post 6.7699387 EPS for the current fiscal year.

Insider Buying and Selling at Canadian Imperial Bank of Commerce

In related news, Senior Officer Christina Charlotte Kramer sold 23,782 shares of the company’s stock in a transaction that occurred on Friday, June 7th. The shares were sold at an average price of C$67.50, for a total transaction of C$1,605,285.00. In related news, Senior Officer Christina Charlotte Kramer sold 23,782 shares of the company’s stock in a transaction that occurred on Friday, June 7th. The shares were sold at an average price of C$67.50, for a total transaction of C$1,605,285.00. Also, Senior Officer John Hountalas sold 20,808 shares of the company’s stock in a transaction that occurred 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. Corporate insiders own 0.03% of the company’s stock.

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.