Canadian Western Bank (TSE:CWB) Given Consensus Recommendation of “Moderate Buy” by Brokerages

Canadian Western Bank (TSE:CWB) has received an average recommendation of “Moderate Buy” from the twelve ratings firms that are presently covering the firm, Marketbeat Ratings reports. Two investment analysts have rated the stock with a hold rating and ten have issued a buy rating on the company. The average 12-month target price among analysts that have updated their coverage on the stock in the last year is C$33.73.

A number of equities analysts have recently commented on CWB shares. Desjardins cut their target price on shares of Canadian Western Bank from C$37.00 to C$35.00 and set a “buy” rating on the stock in a report on Monday, March 4th. Royal Bank of Canada cut their target price on shares of Canadian Western Bank from C$34.00 to C$32.00 and set an “outperform” rating on the stock in a report on Monday, March 4th. Veritas Investment Research reaffirmed a “buy” rating on shares of Canadian Western Bank in a report on Monday, March 4th. Scotiabank upgraded shares of Canadian Western Bank from a “sector perform” rating to an “outperform” rating and set a C$32.00 price objective for the company in a research report on Tuesday, February 20th. Finally, CIBC upped their price objective on shares of Canadian Western Bank from C$32.00 to C$34.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 14th.

Insiders Place Their Bets

In related news, Senior Officer Mark Stafford sold 1,708 shares of the firm’s stock in a transaction that occurred on Tuesday, April 9th. The shares were sold at an average price of C$27.94, for a total value of C$47,728.69. 0.32% of the stock is owned by corporate insiders.

Canadian Western Bank Stock Down 0.8 %

Shares of Canadian Western Bank stock opened at C$26.84 on Thursday. Canadian Western Bank has a 52-week low of C$22.96 and a 52-week high of C$31.64. The company has a 50 day moving average of C$27.93 and a 200 day moving average of C$28.84. The company has a market capitalization of C$2.59 billion, a P/E ratio of 8.13, a P/E/G ratio of 2.95 and a beta of 1.57.

Canadian Western Bank (TSE:CWB) last issued its quarterly earnings data on Friday, March 1st. The company reported C$0.93 earnings per share for the quarter, topping the consensus estimate of C$0.91 by C$0.02. The business had revenue of C$289.99 million during the quarter, compared to the consensus estimate of C$301.10 million. Canadian Western Bank had a net margin of 31.97% and a return on equity of 8.58%. As a group, research analysts anticipate that Canadian Western Bank will post 3.5601057 earnings per share for the current fiscal year.

Canadian Western Bank Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, March 21st. Shareholders of record on Thursday, March 7th were paid a dividend of $0.34 per share. The ex-dividend date was Wednesday, March 6th. This represents a $1.36 annualized dividend and a dividend yield of 5.07%. Canadian Western Bank’s dividend payout ratio is currently 40.61%.

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.