Canadian Western Bank (TSE:CWB) Shares Cross Above 200 Day Moving Average – Time to Sell?

Canadian Western Bank (TSE:CWB) shares crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of C$38.40 and traded as high as C$53.97. Canadian Western Bank shares last traded at C$53.90, with a volume of 303,706 shares.

Wall Street Analyst Weigh In

CWB has been the subject of several recent analyst reports. Royal Bank of Canada increased their price objective on Canadian Western Bank from C$51.00 to C$52.00 and gave the stock a “sector perform” rating in a research note on Tuesday, September 3rd. Scotiabank lifted their price target on shares of Canadian Western Bank from C$30.00 to C$52.00 and gave the company an “outperform” rating in a report on Tuesday, June 18th. BMO Capital Markets cut shares of Canadian Western Bank from an “outperform” rating to a “market perform” rating and upped their price objective for the stock from C$35.00 to C$52.00 in a research note on Wednesday, June 12th. Jefferies Financial Group raised their price objective on shares of Canadian Western Bank from C$52.00 to C$57.00 and gave the stock a “hold” rating in a report on Tuesday, September 3rd. Finally, Cormark boosted their target price on Canadian Western Bank from C$46.00 to C$47.00 in a report on Tuesday, September 3rd. Six investment analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat.com, Canadian Western Bank has a consensus rating of “Moderate Buy” and an average target price of C$48.03.

Canadian Western Bank Stock Down 0.5 %

The stock’s fifty day moving average is C$50.20 and its 200-day moving average is C$38.58. The stock has a market cap of C$5.23 billion, a price-to-earnings ratio of 18.83, a PEG ratio of 2.95 and a beta of 1.39.

Canadian Western Bank (TSE:CWB) last announced its quarterly earnings results on Friday, August 30th. The company reported C$0.60 earnings per share (EPS) for the quarter, missing the consensus estimate of C$0.87 by C($0.27). Canadian Western Bank had a return on equity of 7.51% and a net margin of 29.23%. The business had revenue of C$298.47 million during the quarter, compared to the consensus estimate of C$296.88 million. As a group, equities research analysts predict that Canadian Western Bank will post 3.5990566 earnings per share for the current fiscal year.

Canadian Western Bank Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, September 26th. Shareholders of record on Thursday, September 12th were paid a $0.35 dividend. This represents a $1.40 annualized dividend and a dividend yield of 2.59%. The ex-dividend date of this dividend was Thursday, September 12th. Canadian Western Bank’s dividend payout ratio is 48.61%.

Insider Buying and Selling

In other news, Senior Officer Trent Albert Erickson sold 3,900 shares of Canadian Western Bank stock in a transaction that occurred on Wednesday, September 4th. The shares were sold at an average price of C$51.42, for a total value of C$200,538.00. In related news, Senior Officer Jenny Siman sold 1,000 shares of the stock in a transaction that occurred on Monday, July 22nd. The stock was sold at an average price of C$46.05, for a total transaction of C$46,050.00. Also, Senior Officer Trent Albert Erickson sold 3,900 shares of the business’s stock in a transaction that occurred on Wednesday, September 4th. The stock was sold at an average price of C$51.42, for a total value of C$200,538.00. 0.46% of the stock is owned by corporate insiders.

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.