The rating downgrade is probably noticed by stock traders, as OTCMKTS:NTIOF is right now trading -2.31% lower at $32.15 as of 19:37 New York time.
Canadian Imperial Bank of Commerce (NYSE:CM): The mean estimate for the short term price target for Canadian Imperial Bank of Commerce (NYSE:CM) stands at $83.4 according to 4 Analysts. Previously, the analysts had a Neutral rating on the shares. The rating by the firm was issued on March 5, 2015.
Other equities analysts have also issued reports about the stock. RBC Capital cut their price target on shares of Canadian Imperial Bank of Commerce from C$98.00 to C$97.00 and set a sector perform rating for the company in a research report on Friday, May 29th. CIBC lowered their target price on Laurentian Bank of Canada from C$52.00 to C$51.00 and set a sector perform rating for the company in a research report on Monday, August 17th. Barclays lifted their price target on Laurentian Bank of Canada from C$48.00 to C$49.00 and gave the company an underweight rating in a research note on Thursday, June 4th. The stock presently has an average rating of “Hold” and a consensus price target of C$50.89.
The average recommendation is the arithmetical average of the individual analyst ratings contributed by sell-side research to produce a Consensus Analyst Rating for each stock. The firm has a market capitalization of $489.75 million and a price-to-earnings ratio of 3.45. The company last reported earnings for the period ending on 2015-04-30 of $1.84.
Canadian Western Bank (TSE:CWB) opened at 22.25 on Wednesday. National Bank of Canada has a 52-week low of $41.47 and a 52-week high of $55.50.
Canadian Imperial Bank of Commerce (NYSE:CM) last released its quarterly earnings results on Thursday, May 28th. Equities research analysts forecast that Canadian Imperial Bank of Commerce will post $9.29 EPS for the current fiscal year. Investors of record on Monday, June 29th were paid a $1.09 dividend. The ex-dividend date was Thursday, June 25th.
National Bank of Canada is a Canada-based provider of financial services. CIBC serves its clients through three strategic business units (SBUs): Retail and Business Banking, Wealth Management, and Wholesale Banking. Wealth Management provides relationship-based advisory services and a suite of investment solutions to meet the needs of institutional, retail and high net worth clients. Retail and Business Banking provides banking, financial guidance, investment, and authorized insurance services and products from over 1,100 divisions, mobile sales force, telephone banking, and online and mobile banking. The Bank offers a line of Commercial Banking services, which include credit, deposit and investment options, worldwide trade, foreign exchange trades, payroll, cash management, insurance, electronic transactions and complementary services.