Scotiabank Cuts Canadian Imperial Bank of Commerce (TSE:CM) Price Target to C$95.00

Canadian Imperial Bank of Commerce (TSE:CM) (NYSE:CM) had its target price dropped by research analysts at Scotiabank from C$114.00 to C$95.00 in a report issued on Thursday,BayStreet.CA reports. The firm presently has an “outperform” rating on the stock. Scotiabank’s price objective would suggest a potential upside of 9.20% from the company’s previous close.

CM has been the subject of several other reports. UBS Group reduced their price target on Canadian Imperial Bank of Commerce from C$102.00 to C$96.00 in a research report on Friday, February 14th. National Bankshares lifted their price target on Canadian Imperial Bank of Commerce from C$86.00 to C$94.00 in a research report on Wednesday, November 20th. Cormark lifted their price target on Canadian Imperial Bank of Commerce from C$99.00 to C$104.00 in a research report on Friday, December 6th. Canaccord Genuity Group lifted their price target on Canadian Imperial Bank of Commerce from C$92.00 to C$99.00 in a research report on Friday, December 6th. Finally, TD Securities lifted their price target on Canadian Imperial Bank of Commerce from C$91.00 to C$98.00 in a research report on Friday, November 15th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and nine have issued a buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of C$93.00.

Canadian Imperial Bank of Commerce Price Performance

Shares of CM traded down C$0.92 during mid-day trading on Thursday, hitting C$87.00. The stock had a trading volume of 642,975 shares, compared to its average volume of 3,268,549. The firm has a market cap of C$81.39 billion, a P/E ratio of 11.49, a PEG ratio of 3.03 and a beta of 1.12. The business has a fifty day moving average price of C$90.62 and a 200-day moving average price of C$85.06. Canadian Imperial Bank of Commerce has a 52 week low of C$62.21 and a 52 week high of C$95.50.

Insider Buying and Selling at Canadian Imperial Bank of Commerce

In other Canadian Imperial Bank of Commerce news, Senior Officer Robert Sedran sold 20,652 shares of the company’s stock in a transaction that occurred on Thursday, December 12th. The stock was sold at an average price of C$94.97, for a total transaction of C$1,961,227.51. Also, 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 value of C$93,140.00. Insiders sold 177,012 shares of company stock valued at $16,687,218 in the last 90 days. 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.