National Bankshares Has Lowered Expectations for Canadian Imperial Bank of Commerce (TSE:CM) Stock Price

Canadian Imperial Bank of Commerce (TSE:CM) (NYSE:CM) had its price objective dropped by analysts at National Bankshares from C$101.00 to C$95.00 in a research note issued on Monday,BayStreet.CA reports. The brokerage presently has an “outperform” rating on the stock. National Bankshares’ price objective indicates a potential upside of 20.63% from the stock’s previous close.

CM has been the topic of several other research reports. Scotiabank dropped their price target on shares of Canadian Imperial Bank of Commerce from C$114.00 to C$95.00 and set an “outperform” rating on the stock in a research note on Thursday, February 20th. Royal Bank of Canada set a C$108.00 price target on shares of Canadian Imperial Bank of Commerce and gave the stock an “outperform” rating in a research report on Monday, March 17th. TD Securities decreased their target price on Canadian Imperial Bank of Commerce from C$100.00 to C$99.00 and set a “buy” rating on the stock in a research note on Friday, February 28th. Finally, UBS Group dropped 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. One research analyst has rated the stock with a sell rating, one has given a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of C$93.58.

Canadian Imperial Bank of Commerce Stock Performance

Shares of TSE CM traded down C$1.91 during midday trading on Monday, hitting C$78.75. 2,340,797 shares of the stock traded hands, compared to its average volume of 4,041,907. Canadian Imperial Bank of Commerce has a one year low of C$64.02 and a one year high of C$95.50. The firm has a market capitalization of C$73.68 billion, a P/E ratio of 10.40, a PEG ratio of 3.03 and a beta of 1.12. The firm has a 50-day moving average of C$85.16 and a two-hundred day moving average of C$87.28.

Insider Activity at Canadian Imperial Bank of Commerce

In other news, Senior Officer Sandy Sharman sold 1,027 shares of the company’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. 0.02% of the stock is currently owned by corporate insiders.

About Canadian Imperial Bank of Commerce

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.