Canadian Western Bank (TSE:CWB) Reaches New 1-Year High Following Analyst Upgrade

Canadian Western Bank (TSE:CWB) reached a new 52-week high during mid-day trading on Monday after CIBC raised their price target on the stock from C$60.30 to C$63.50. The stock traded as high as C$60.35 and last traded at C$59.91, with a volume of 72181 shares. The stock had previously closed at C$59.91.

Other equities analysts have also issued reports about the company. Desjardins lifted their price objective on Canadian Western Bank from C$53.00 to C$57.00 and gave the stock a “buy” rating in a research note on Tuesday, September 3rd. Cormark upped their price target on Canadian Western Bank from C$46.00 to C$47.00 in a report on Tuesday, September 3rd. Cibc World Mkts upgraded shares of Canadian Western Bank to a “hold” rating in a research note on Tuesday, September 3rd. Raymond James lowered shares of Canadian Western Bank from a “moderate buy” rating to a “hold” rating and boosted their target price for the stock from C$52.00 to C$54.00 in a research report on Tuesday, September 3rd. Finally, Scotiabank increased their price target on shares of Canadian Western Bank from C$52.00 to C$62.00 in a report on Monday. Six investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, Canadian Western Bank presently has a consensus rating of “Hold” and a consensus price target of C$51.45.

Insider Buying and Selling

In other Canadian Western Bank news, Senior Officer Trent Albert Erickson sold 3,900 shares of the stock in a transaction on Wednesday, September 4th. The stock was sold at an average price of C$51.42, for a total transaction of C$200,538.00. Company insiders own 0.46% of the company’s stock.

Canadian Western Bank Price Performance

The company has a market cap of C$5.78 billion, a P/E ratio of 20.05, a PEG ratio of 2.95 and a beta of 1.39. The business’s 50 day moving average price is C$56.06 and its 200-day moving average price is C$46.12.

Canadian Western Bank (TSE:CWB) last released its quarterly earnings results on Friday, August 30th. The company reported C$0.60 earnings per share for the quarter, missing analysts’ consensus estimates of C$0.87 by C($0.27). The business had revenue of C$298.47 million for the quarter, compared to analyst estimates of C$296.88 million. Canadian Western Bank had a net margin of 29.23% and a return on equity of 7.51%. As a group, research analysts forecast that Canadian Western Bank will post 3.656168 EPS for the current year.

Canadian Western Bank Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 26th. Shareholders of record on Thursday, September 12th were given a $0.35 dividend. This represents a $1.40 annualized dividend and a yield of 2.34%. The ex-dividend date of this dividend was Thursday, September 12th. Canadian Western Bank’s payout ratio is presently 46.98%.

Canadian Western Bank Company Profile

Canadian Western Bank provides personal and business banking products and services in Western Canada. The company offers current, savings, US dollar, chequing, flex notice, organization, business trust, and trust fund investment accounts. It also offers commercial lending and real estate, equipment financing and leasing, aviation financing, and dealership financing products; agriculture lending products and AgriInvest savings account; variable and fixed rate mortgages; line of credit; registered retirement savings plan, consolidation, and vehicle loans; and credit cards.