Canadian Imperial Bank of Commerce (TSE:CM) Raised to Overweight at Barclays

Canadian Imperial Bank of Commerce (TSE:CM) (NYSE:CM) was upgraded by analysts at Barclays from a “strong sell” rating to an “overweight” rating in a research note issued to investors on Thursday, Marketbeat.com reports. The firm currently has a C$137.00 price objective on the stock, up from their previous price objective of C$126.00. Barclays‘s target price suggests a potential upside of 0.55% from the company’s current price.

A number of other equities research analysts have also recently commented on the company. Raymond James Financial increased their price target on Canadian Imperial Bank of Commerce from C$122.00 to C$135.00 and gave the company a “market perform” rating in a research note on Tuesday. Royal Bank Of Canada increased their price objective on shares of Canadian Imperial Bank of Commerce from C$131.00 to C$134.00 and gave the company an “outperform” rating in a research report on Monday, January 5th. National Bank Financial boosted their target price on shares of Canadian Imperial Bank of Commerce from C$128.00 to C$131.00 and gave the stock a “sector perform” rating in a research report on Tuesday. Scotiabank upped their price target on shares of Canadian Imperial Bank of Commerce from C$133.00 to C$138.00 in a research note on Friday, January 9th. Finally, BMO Capital Markets lifted their price objective on shares of Canadian Imperial Bank of Commerce from C$130.00 to C$135.00 in a research note on Wednesday, December 17th. Five equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of C$135.40.

Canadian Imperial Bank of Commerce Stock Up 1.3%

TSE:CM opened at C$136.25 on Thursday. The stock has a market capitalization of C$126.25 billion, a price-to-earnings ratio of 15.90, a PEG ratio of 3.03 and a beta of 1.26. Canadian Imperial Bank of Commerce has a 52 week low of C$76.17 and a 52 week high of C$136.30. The firm has a 50 day moving average of C$128.18 and a 200 day moving average of C$118.16.

Canadian Imperial Bank of Commerce (TSE:CM) (NYSE:CM) last issued its quarterly earnings results on Thursday, December 4th. The company reported C$2.21 earnings per share (EPS) for the quarter. Canadian Imperial Bank of Commerce had a return on equity of 12.61% and a net margin of 27.87%.The business had revenue of C$7.58 billion for the quarter. As a group, analysts expect that Canadian Imperial Bank of Commerce will post 6.4127341 EPS for the current year.

Insider Activity

In related news, insider Frank Guse sold 5,000 shares of the firm’s stock in a transaction on Wednesday, December 24th. The shares were sold at an average price of C$127.16, for a total transaction of C$635,800.00. Following the completion of the transaction, the insider owned 1,359 shares of the company’s stock, valued at C$172,810.44. This trade represents a 78.63% decrease in their ownership of the stock. 0.02% of the stock is currently owned by company insiders.

About Canadian Imperial Bank of Commerce

CIBC is a leading North American financial institution with 15 million personal banking, business, public sector and institutional clients. Across Personal and Business Banking, Commercial Banking and Wealth Management, and Capital Markets, CIBC offers a full range of advice, solutions and services through its leading digital banking network, and locations across Canada, in the United States and around the world.