Canadian Western Bank (TSE:CWB) Reaches New 52-Week High Following Analyst Upgrade

Canadian Western Bank (TSE:CWB)’s share price reached a new 52-week high on Monday after BMO Capital Markets raised their price target on the stock from C$52.00 to C$58.00. The company traded as high as C$58.70 and last traded at C$58.44, with a volume of 136659 shares traded. The stock had previously closed at C$57.93.

CWB has been the subject of several other reports. Cibc World Mkts raised shares of Canadian Western Bank to a “hold” rating in a research report on Tuesday, September 3rd. Raymond James lowered Canadian Western Bank from a “moderate buy” rating to a “hold” rating and boosted their price target for the company from C$52.00 to C$54.00 in a report on Tuesday, September 3rd. CIBC raised their price objective on Canadian Western Bank from C$55.80 to C$60.30 and gave the stock a “neutral” rating in a report on Tuesday, September 3rd. Jefferies Financial Group increased their target price on Canadian Western Bank from C$52.00 to C$57.00 and gave the company a “hold” rating in a research report on Tuesday, September 3rd. Finally, Cormark lifted their price objective on shares of Canadian Western Bank from C$46.00 to C$47.00 in a research report on Tuesday, September 3rd. Six research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, Canadian Western Bank presently has an average rating of “Moderate Buy” and a consensus target price of C$48.57.

Insiders Place Their Bets

In other Canadian Western Bank news, Senior Officer Trent Albert Erickson sold 3,900 shares of the business’s stock in a transaction dated Wednesday, September 4th. The shares were 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 company insiders.

Canadian Western Bank Price Performance

The firm has a fifty day simple moving average of C$55.45 and a 200 day simple moving average of C$45.07. The company has a market cap of C$5.68 billion, a price-to-earnings ratio of 19.72, a P/E/G ratio of 2.95 and a beta of 1.39.

Canadian Western Bank (TSE:CWB) last released its quarterly earnings data on Friday, August 30th. The company reported C$0.60 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 firm had revenue of C$298.47 million for the quarter, compared to the consensus estimate of C$296.88 million. Analysts expect that Canadian Western Bank will post 3.656168 earnings per share for the current year.

Canadian Western Bank Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, September 26th. Shareholders of record on Thursday, September 12th were given a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a yield of 2.38%. The ex-dividend date was Thursday, September 12th. Canadian Western Bank’s dividend payout ratio (DPR) is currently 46.98%.

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.