Canaccord Genuity Sticks to Its Hold Rating for Canadian Bank of Commerce (CM)

In a report released today, Matthew Lee from Canaccord Genuity maintained a Hold rating on Canadian Bank of Commerce, with a price target of C$145.00.

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Lee covers the Financial sector, focusing on stocks such as Bank Of Montreal, Bank Of Nova Scotia, and Canadian Bank of Commerce. According to TipRanks, Lee has an average return of 19.9% and a 66.15% success rate on recommended stocks.

In addition to Canaccord Genuity, Canadian Bank of Commerce also received a Hold from TipRanks – xAI’s xAi Banks – Diversified in a report issued on March 3. However, on March 4, TipRanks – Google upgraded Canadian Bank of Commerce (NYSE: CM) to a Buy.

Based on Canadian Bank of Commerce’s latest earnings release for the quarter ending January 31, the company reported a quarterly revenue of C$15.82 billion and a net profit of C$3.09 billion. In comparison, last year the company earned a revenue of C$6.71 billion and had a net profit of C$2.16 billion

Based on the recent corporate insider activity of 47 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of CM in relation to earlier this year.