Canadian Western Bank (TSE:CWB) Price Target Cut to C$33.00 by Analysts at Desjardins

Canadian Western Bank (TSE:CWB) had its price target lowered by investment analysts at Desjardins from C$35.00 to C$33.00 in a note issued to investors on Monday, BayStreet.CA reports. The brokerage presently has a “buy” rating on the stock. Desjardins’ price target would indicate a potential upside of 21.41% from the stock’s previous close.

Other equities research analysts also recently issued research reports about the stock. CIBC lifted their target price 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. Royal Bank of Canada reduced their price objective on Canadian Western Bank from C$34.00 to C$32.00 and set an “outperform” rating for the company in a research report on Monday, March 4th. Scotiabank upgraded Canadian Western Bank from a “sector perform” rating to an “outperform” rating and set a C$32.00 price target for the company in a research note on Tuesday, February 20th. Finally, Veritas Investment Research reiterated a “buy” rating on shares of Canadian Western Bank in a research note on Monday, March 4th. Two research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat, Canadian Western Bank has a consensus rating of “Moderate Buy” and an average price target of C$33.55.

Canadian Western Bank Trading Up 0.2 %

Shares of CWB opened at C$27.18 on Monday. Canadian Western Bank has a 12 month low of C$22.96 and a 12 month high of C$31.64. The business’s fifty day simple moving average is C$27.61 and its two-hundred day simple moving average is C$28.78. The company has a market cap of C$2.62 billion, a price-to-earnings ratio of 8.22, a P/E/G ratio of 2.95 and a beta of 1.54.

Canadian Western Bank (TSE:CWB) last released its quarterly earnings data on Friday, March 1st. The company reported C$0.93 EPS for the quarter, topping the consensus estimate of C$0.91 by C$0.02. The company 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 return on equity of 8.58% and a net margin of 31.97%. As a group, research analysts forecast that Canadian Western Bank will post 3.5834464 EPS for the current year.

Insider Buying and Selling at Canadian Western Bank

In related news, Senior Officer Supriya Anna Maria James sold 4,600 shares of the stock in a transaction dated Tuesday, April 23rd. The stock was sold at an average price of C$27.00, for a total transaction of C$124,203.22. In related news, Senior Officer Supriya Anna Maria James sold 4,600 shares of the firm’s stock in a transaction on Tuesday, April 23rd. The shares were sold at an average price of C$27.00, for a total transaction of C$124,203.22. Also, Senior Officer Mark Stafford sold 1,708 shares of the business’s stock in a transaction on Tuesday, April 9th. The stock was sold at an average price of C$27.94, for a total transaction of C$47,728.69. Insiders own 0.32% of the company’s stock.

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.