Royal Bank of Canada Lowers Canadian Imperial Bank of Commerce (TSE:CM) Price Target to C$112.00

Canadian Imperial Bank of Commerce (TSE:CM) (NYSE:CM) had its price objective reduced by stock analysts at Royal Bank of Canada from C$116.00 to C$112.00 in a report issued on Monday,BayStreet.CA reports. The firm presently has an “outperform” rating on the stock. Royal Bank of Canada’s price objective would indicate a potential upside of 19.54% from the stock’s previous close.

A number of other equities research analysts also recently commented on the stock. UBS Group cut their target price on shares of Canadian Imperial Bank of Commerce from C$102.00 to C$96.00 in a research report on Friday, February 14th. Scotiabank raised shares of Canadian Imperial Bank of Commerce to a “strong-buy” rating in a research report on Thursday, May 15th. Canaccord Genuity Group cut their target price on shares of Canadian Imperial Bank of Commerce from C$93.00 to C$92.00 in a research report on Monday, May 12th. National Bankshares set a C$95.00 target price on shares of Canadian Imperial Bank of Commerce and gave the stock an “outperform” rating in a research report on Thursday, May 22nd. Finally, National Bank Financial downgraded shares of Canadian Imperial Bank of Commerce from an “outperform” rating to a “sector perform” rating in a research report on Thursday, May 29th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of C$95.92.

Canadian Imperial Bank of Commerce Stock Down 0.4%

Shares of TSE CM opened at C$93.69 on Monday. Canadian Imperial Bank of Commerce has a twelve month low of C$64.63 and a twelve month high of C$96.45. The firm has a market cap of C$87.65 billion, a P/E ratio of 12.37, a PEG ratio of 3.03 and a beta of 1.12. The company has a 50 day moving average of C$87.52 and a 200 day moving average of C$87.97.

Insider Buying and Selling

In other Canadian Imperial Bank of Commerce news, Senior Officer John Hountalas sold 32,018 shares of the business’s stock in a transaction on Thursday, June 5th. The shares were sold at an average price of C$93.87, for a total value of C$3,005,657.73. Also, Senior Officer Sandy Sharman sold 1,027 shares of the business’s stock in a transaction on Friday, March 21st. The stock was sold at an average price of C$81.27, for a total transaction of C$83,464.29. In the last quarter, insiders sold 85,642 shares of company stock valued at $7,995,304. Company 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.