Canadian Western Bank (TSE:CWB) Sets New 52-Week High at $49.60

Canadian Western Bank (TSE:CWB)’s stock price hit a new 52-week high on Friday . The company traded as high as C$49.60 and last traded at C$49.60, with a volume of 15104 shares. The stock had previously closed at C$49.25.

Wall Street Analyst Weigh In

CWB has been the topic of a number of research reports. BMO Capital Markets cut shares of Canadian Western Bank from an “outperform” rating to a “market perform” rating and increased their target price for the stock from C$35.00 to C$52.00 in a report on Wednesday, June 12th. Scotiabank increased their target price on shares of Canadian Western Bank from C$30.00 to C$52.00 and gave the stock an “outperform” rating in a report on Tuesday, June 18th. Jefferies Financial Group increased their price objective on shares of Canadian Western Bank from C$28.00 to C$52.00 and gave the stock a “hold” rating in a report on Thursday, June 13th. Desjardins increased their price objective on shares of Canadian Western Bank from C$52.00 to C$53.00 and gave the stock a “buy” rating in a report on Tuesday, August 6th. Finally, Royal Bank of Canada cut shares of Canadian Western Bank from an “outperform” rating to a “sector perform” rating and dropped their price objective for the stock from C$32.00 to C$28.00 in a report on Monday, June 3rd. Four analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of C$40.29.

Canadian Western Bank Price Performance

The firm’s fifty day simple moving average is C$45.72 and its 200 day simple moving average is C$34.10. The company has a market capitalization of C$4.81 billion, a price-to-earnings ratio of 14.82, a PEG ratio of 2.95 and a beta of 1.39.

Canadian Western Bank (TSE:CWB) last announced its earnings results on Friday, May 31st. The company reported C$0.81 EPS for the quarter, missing the consensus estimate of C$0.86 by C($0.05). Canadian Western Bank had a return on equity of 8.66% and a net margin of 32.29%. The firm had revenue of C$285.92 million during the quarter, compared to analyst estimates of C$290.33 million. Equities research analysts forecast that Canadian Western Bank will post 3.703869 earnings per share for the current fiscal year.

Canadian Western Bank Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, June 20th. Investors of record on Thursday, June 6th were issued a dividend of $0.35 per share. This is a boost from Canadian Western Bank’s previous quarterly dividend of $0.34. This represents a $1.40 annualized dividend and a dividend yield of 2.81%. The ex-dividend date of this dividend was Thursday, June 6th. Canadian Western Bank’s dividend payout ratio (DPR) is currently 41.67%.

Insider Buying and Selling

In related news, Senior Officer Trent Albert Erickson purchased 4,312 shares of the firm’s stock in a transaction that occurred on Friday, June 14th. The stock was acquired at an average cost of C$41.44 per share, for a total transaction of C$178,680.66. In other Canadian Western Bank news, Senior Officer Trent Albert Erickson acquired 4,312 shares of the business’s stock in a transaction that occurred on Friday, June 14th. The shares were purchased at an average price of C$41.44 per share, with a total value of C$178,680.66. Also, Senior Officer Jenny Siman sold 1,000 shares of the firm’s stock in a transaction that occurred on Monday, July 22nd. The shares were sold at an average price of C$46.05, for a total transaction of C$46,050.00. 0.46% of the stock is currently owned by corporate insiders.

About Canadian Western Bank

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.