Canadian Western Bank (TSE:CWB) Shares Pass Above 200 Day Moving Average – What’s Next?

Canadian Western Bank (TSE:CWB) passed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of C$41.01 and traded as high as C$57.01. Canadian Western Bank shares last traded at C$56.75, with a volume of 220,585 shares trading hands.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the stock. Cormark lifted their price objective on shares of Canadian Western Bank from C$46.00 to C$47.00 in a report on Tuesday, September 3rd. Royal Bank of Canada upped their price objective on shares of Canadian Western Bank from C$51.00 to C$52.00 and gave the stock a “sector perform” rating in a research report on Tuesday, September 3rd. CIBC increased their price objective on shares of Canadian Western Bank from C$55.80 to C$60.30 and gave the company a “neutral” rating in a research note on Tuesday, September 3rd. Desjardins boosted their target price 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. Finally, Cibc World Mkts raised Canadian Western Bank to a “hold” rating in a research report on Tuesday, September 3rd. Six equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of C$48.03.

Canadian Western Bank Stock Up 0.1 %

The firm has a market capitalization of C$5.49 billion, a PE ratio of 19.04, a P/E/G ratio of 2.95 and a beta of 1.39. The stock has a 50-day simple moving average of C$52.64 and a 200-day simple moving average of C$41.22.

Canadian Western Bank (TSE:CWB) last announced its quarterly earnings data on Friday, August 30th. The company reported C$0.60 earnings per share 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 firm had revenue of C$298.47 million during the quarter, compared to analysts’ expectations of C$296.88 million. Equities analysts forecast that Canadian Western Bank will post 3.656168 earnings per share for the current fiscal year.

Canadian Western Bank Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, September 26th. Stockholders of record on Thursday, September 12th were given a $0.35 dividend. This represents a $1.40 annualized dividend and a dividend yield of 2.47%. The ex-dividend date was Thursday, September 12th. Canadian Western Bank’s dividend payout ratio (DPR) is currently 46.98%.

Insider Buying and Selling

In other news, Senior Officer Trent Albert Erickson sold 3,900 shares of the firm’s stock in a transaction 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 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.