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

Canadian Western Bank (TSE:CWB)’s stock price reached a new 52-week high on Wednesday . The company traded as high as C$57.75 and last traded at C$57.60, with a volume of 120680 shares trading hands. The stock had previously closed at C$57.23.

Analysts Set New Price Targets

Several research analysts recently commented on CWB shares. Cibc World Mkts raised shares of Canadian Western Bank to a “hold” rating in a research note on Tuesday, September 3rd. CIBC upped their price objective on shares of Canadian Western Bank from C$55.80 to C$60.30 and gave the company a “neutral” rating in a research note on Tuesday, September 3rd. Jefferies Financial Group increased their target price on shares of Canadian Western Bank from C$52.00 to C$57.00 and gave the stock a “hold” rating in a report on Tuesday, September 3rd. Raymond James lowered Canadian Western Bank from a “moderate buy” rating to a “hold” rating and upped their price target for the company from C$52.00 to C$54.00 in a research report on Tuesday, September 3rd. Finally, Royal Bank of Canada boosted their target price on Canadian Western Bank from C$51.00 to C$52.00 and gave the company 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 assigned a buy rating to the company. According to data from MarketBeat.com, Canadian Western Bank currently has an average rating of “Moderate Buy” and an average target price of C$48.03.

Canadian Western Bank Stock Performance

The business’s 50-day moving average is C$54.06 and its 200-day moving average is C$42.88. The company has a market capitalization of C$5.58 billion, a PE ratio of 19.20, a PEG ratio of 2.95 and a beta of 1.39.

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

Canadian Western Bank Announces Dividend

The business also recently declared 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. The ex-dividend date was Thursday, September 12th. This represents a $1.40 annualized dividend and a dividend yield of 2.43%. Canadian Western Bank’s payout ratio is presently 46.98%.

Insider Buying and Selling

In other Canadian Western Bank news, Senior Officer Trent Albert Erickson sold 3,900 shares of Canadian Western Bank stock in a transaction dated Wednesday, September 4th. The shares were sold at an average price of C$51.42, for a total value of C$200,538.00. 0.46% of the stock is currently owned by company 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.