CIBC Downgrades Canadian Western Bank (TSE:CWB) to Tender

Canadian Western Bank (TSE:CWB) was downgraded by stock analysts at CIBC from a “neutral” rating to a “tender” rating in a report issued on Tuesday, BayStreet.CA reports. They presently have a C$55.80 target price on the stock, up from their previous target price of C$30.00. CIBC’s target price points to a potential upside of 32.16% from the stock’s previous close.

A number of other research firms have also recently weighed in on CWB. Veritas Investment Research reissued a “buy” rating on shares of Canadian Western Bank in a research report on Monday, March 4th. Scotiabank lowered their price objective on Canadian Western Bank from C$32.00 to C$30.00 and set an “outperform” rating for the company in a research report on Monday, June 3rd. National Bankshares lowered their price objective on Canadian Western Bank from C$37.00 to C$30.00 and set an “outperform” rating for the company in a research report on Monday, June 3rd. Jefferies Financial Group lifted their price target on Canadian Western Bank from C$28.00 to C$52.00 and gave the stock a “hold” rating in a research report on Thursday, June 13th. Finally, Royal Bank of Canada cut Canadian Western Bank from an “outperform” rating to a “sector perform” rating and lowered their price target for the stock from C$32.00 to C$28.00 in a research report on Monday, June 3rd. Four investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Canadian Western Bank presently has an average rating of “Moderate Buy” and an average target price of C$40.22.

Canadian Western Bank Price Performance

Canadian Western Bank stock opened at C$42.22 on Tuesday. The stock has a market capitalization of C$4.08 billion, a price-to-earnings ratio of 12.82, a PEG ratio of 2.95 and a beta of 1.54. Canadian Western Bank has a 1-year low of C$23.21 and a 1-year high of C$44.00. The business has a fifty day moving average price of C$28.13 and a 200-day moving average price of C$28.91.

Insider Buying and Selling at Canadian Western Bank

In related news, Senior Officer Supriya Anna Maria James sold 4,600 shares of Canadian Western Bank stock in a transaction dated Tuesday, April 23rd. The stock was sold at an average price of C$27.00, for a total value of C$124,203.22. In related news, Senior Officer Mark Stafford sold 1,708 shares of Canadian Western Bank stock in a transaction dated Tuesday, April 9th. The stock was sold at an average price of C$27.94, for a total value of C$47,728.69. Also, Senior Officer Supriya Anna Maria James sold 4,600 shares of the business’s stock in a transaction that occurred on Tuesday, April 23rd. The stock was sold at an average price of C$27.00, for a total value of C$124,203.22. Company insiders own 0.32% of the company’s stock.

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.