Canadian Western Bank (TSE:CWB – Free Report) had its price target increased by CIBC from C$55.80 to C$60.30 in a research note released on Tuesday morning, BayStreet.CA reports. CIBC currently has a neutral rating on the stock.
A number of other research analysts have also recently commented on the stock. BMO Capital Markets cut shares of Canadian Western Bank from an outperform rating to a market perform rating and increased their target price for the stock from C$35.00 to C$52.00 in a report on Wednesday, June 12th. Scotiabank increased their price objective on shares of Canadian Western Bank from C$30.00 to C$52.00 and gave the company an outperform rating in a research note on Tuesday, June 18th. National Bankshares decreased their target price on shares of Canadian Western Bank from C$37.00 to C$30.00 and set an outperform rating on the stock in a research note on Monday, June 3rd. Jefferies Financial Group increased their price target on Canadian Western Bank from C$52.00 to C$57.00 and gave the company a hold rating in a research note on Tuesday. Finally, Desjardins raised their price objective on Canadian Western Bank from C$52.00 to C$53.00 and gave the company a buy rating in a report on Tuesday, August 6th. Six research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of Moderate Buy and an average target price of C$48.03.
Get Our Latest Analysis on Canadian Western Bank
Canadian Western Bank Stock Down 0.6 %
Canadian Western Bank Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Thursday, September 26th. Shareholders of record on Thursday, September 12th will be given a $0.35 dividend. The ex-dividend date is Thursday, September 12th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 2.71%. Canadian Western Bank’s dividend payout ratio (DPR) is presently 47.78%.
Insider Transactions at Canadian Western Bank
In other news, Senior Officer Jenny Siman sold 1,000 shares of the business’s stock in a transaction that occurred on Monday, July 22nd. The shares were sold at an average price of C$46.05, for a total value of C$46,050.00. In other news, Senior Officer Trent Albert Erickson sold 3,900 shares of the business’s stock in a transaction dated Wednesday, September 4th. The stock was sold at an average price of C$51.42, for a total value of C$200,538.00. Also, Senior Officer Jenny Siman sold 1,000 shares of the firm’s stock in a transaction that occurred on Monday, July 22nd. The stock was sold at an average price of C$46.05, for a total value of C$46,050.00. 0.46% of the stock is owned by corporate insiders.
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.
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