BMO Capital Markets Increases Canadian Western Bank (TSE:CWB) Price Target to C$58.00

Canadian Western Bank (TSE:CWB) had its target price upped by equities research analysts at BMO Capital Markets from C$52.00 to C$58.00 in a research note issued on Monday,BayStreet.CA reports. BMO Capital Markets’ target price points to a potential downside of 1.31% from the company’s previous close.

Several other analysts have also issued reports on CWB. Jefferies Financial Group upped their target price on 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. Royal Bank of Canada boosted their price target on 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 Canadian Western Bank from C$55.80 to C$60.30 and gave the company a “neutral” rating in a report on Tuesday, September 3rd. Cibc World Mkts upgraded shares of Canadian Western Bank to a “hold” rating in a report on Tuesday, September 3rd. Finally, Desjardins upped their price target on shares of Canadian Western Bank from C$53.00 to C$57.00 and gave the stock a “buy” rating in a research 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 stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of C$48.57.

Canadian Western Bank Stock Up 0.2 %

TSE CWB opened at C$58.77 on Monday. The firm’s 50 day moving average is C$55.45 and its 200-day moving average is C$45.07. The company has a market capitalization of C$5.68 billion, a PE ratio of 19.72, a price-to-earnings-growth ratio of 2.95 and a beta of 1.39. Canadian Western Bank has a 12-month low of C$24.66 and a 12-month high of C$58.80.

Canadian Western Bank (TSE:CWB) last issued 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 net margin of 29.23% and a return on equity of 7.51%. The business had revenue of C$298.47 million during the quarter, compared to analyst estimates of C$296.88 million. As a group, sell-side analysts expect that Canadian Western Bank will post 3.656168 EPS for the current year.

Insiders Place Their Bets

In related news, Senior Officer Trent Albert Erickson sold 3,900 shares of the firm’s stock in a transaction dated Wednesday, September 4th. The shares were 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 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.