Canadian Western Bank (TSE:CWB) Sets New 12-Month High – Should You Buy?

Canadian Western Bank (TSE:CWB) shares hit a new 52-week high during trading on Tuesday . The company traded as high as C$56.23 and last traded at C$56.18, with a volume of 99223 shares traded. The stock had previously closed at C$55.72.

Analyst Upgrades and Downgrades

A number of research analysts have commented on CWB shares. Scotiabank boosted their price objective on Canadian Western Bank from C$30.00 to C$52.00 and gave the stock an “outperform” rating in a research note on Tuesday, June 18th. Jefferies Financial Group boosted their price target on Canadian Western Bank from C$52.00 to C$57.00 and gave the stock a “hold” rating in a research note on Tuesday, September 3rd. CIBC boosted their price target on Canadian Western Bank from C$55.80 to C$60.30 and gave the stock a “neutral” rating in a research note on Tuesday, September 3rd. Cibc World Mkts upgraded Canadian Western Bank to a “hold” rating in a research note on Tuesday, September 3rd. Finally, Royal Bank of Canada boosted their price target on Canadian Western Bank from C$51.00 to C$52.00 and gave the stock a “sector perform” rating in a research note on Tuesday, September 3rd. Six investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of C$48.03.

Canadian Western Bank Price Performance

The stock has a market capitalization of C$5.46 billion, a P/E ratio of 18.70, a price-to-earnings-growth ratio of 2.95 and a beta of 1.39. The company has a fifty day moving average of C$51.42 and a two-hundred day moving average of C$40.10.

Canadian Western Bank (TSE:CWB) last posted its earnings results on Friday, August 30th. The company reported C$0.60 EPS for the quarter, missing the consensus estimate of C$0.87 by C($0.27). The company had revenue of C$298.47 million for the quarter, compared to the consensus estimate of C$296.88 million. Canadian Western Bank had a net margin of 29.23% and a return on equity of 7.51%. As a group, equities research analysts predict that Canadian Western Bank will post 3.656168 EPS for the current fiscal year.

Canadian Western Bank Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, September 26th. Stockholders of record on Thursday, September 12th were issued a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a dividend yield of 2.48%. The ex-dividend date was Thursday, September 12th. Canadian Western Bank’s dividend payout ratio (DPR) is presently 46.98%.

Insider Activity

In other news, Senior Officer Trent Albert Erickson sold 3,900 shares of the company’s stock in a transaction that occurred on Wednesday, September 4th. The stock was sold at an average price of C$51.42, for a total transaction of C$200,538.00. In related news, Senior Officer Jenny Siman sold 1,000 shares of the 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. Also, Senior Officer Trent Albert Erickson sold 3,900 shares of the stock in a transaction that occurred on Wednesday, September 4th. The stock was sold at an average price of C$51.42, for a total value of C$200,538.00. Corporate insiders own 0.46% 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.