Canadian Western Bank (TSE:CWB) Downgraded to “Hold” at Raymond James

Raymond James lowered shares of Canadian Western Bank (TSE:CWB) from a moderate buy rating to a hold rating in a report published on Tuesday morning, Marketbeat.com reports. Raymond James currently has C$54.00 target price on the stock, up from their previous target price of C$52.00. Raymond James also issued estimates for Canadian Western Bank’s FY2024 earnings at $3.08 EPS, Q1 2025 earnings at $0.93 EPS, Q2 2025 earnings at $0.94 EPS, Q3 2025 earnings at $0.97 EPS, Q4 2025 earnings at $0.98 EPS and FY2025 earnings at $3.82 EPS.

Several other research analysts have also issued reports on the stock. Scotiabank upped their target price on shares of Canadian Western Bank from C$30.00 to C$52.00 and gave the stock an outperform rating in a research report on Tuesday, June 18th. Desjardins upped their price objective on Canadian Western Bank from C$53.00 to C$57.00 and gave the stock a buy rating in a report on Tuesday. 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 research report on Tuesday. National Bankshares lowered their price target on shares of Canadian Western Bank from C$37.00 to C$30.00 and set an outperform rating for the company in a research note on Monday, June 3rd. Finally, Royal Bank of Canada boosted their price objective on Canadian Western Bank from C$51.00 to C$52.00 and gave the company a sector perform rating in a research report on Tuesday. Six analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of Moderate Buy and an average price target of C$48.03.

Canadian Western Bank Price Performance

Shares of Canadian Western Bank stock opened at C$51.63 on Tuesday. The company has a 50 day simple moving average of C$47.46 and a two-hundred day simple moving average of C$35.70. The firm has a market cap of C$4.99 billion, a PE ratio of 17.62, a PEG ratio of 2.95 and a beta of 1.39. Canadian Western Bank has a 1 year low of C$24.66 and a 1 year high of C$52.80.

Canadian Western Bank Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 26th. Stockholders of record on Thursday, September 12th will be paid a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a dividend yield of 2.71%. The ex-dividend date is Thursday, September 12th. Canadian Western Bank’s payout ratio is presently 47.78%.

Insider Activity

In other Canadian Western Bank news, Senior Officer Trent Albert Erickson acquired 4,312 shares of the business’s stock in a transaction on Friday, June 14th. The shares were acquired at an average price of C$41.44 per share, for a total transaction of C$178,680.66. In related news, Senior Officer Jenny Siman sold 1,000 shares of the stock in a transaction dated Monday, July 22nd. The shares were sold at an average price of C$46.05, for a total transaction of C$46,050.00. Also, Senior Officer Trent Albert Erickson purchased 4,312 shares of Canadian Western Bank stock in a transaction that occurred on Friday, June 14th. The shares were purchased at an average cost of C$41.44 per share, with a total value of C$178,680.66. 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.