Canadian Western Bank (TSE:CWB) Reaches New 1-Year High on Analyst Upgrade

Canadian Western Bank (TSE:CWB)’s stock price reached a new 52-week high during trading on Monday after BMO Capital Markets raised their price target on the stock from C$52.00 to C$58.00. The company traded as high as C$58.70 and last traded at C$58.44, with a volume of 136659 shares trading hands. The stock had previously closed at C$57.93.

A number of other research firms have also weighed in on CWB. Cibc World Mkts raised shares of Canadian Western Bank to a “hold” rating in a research report on Tuesday, September 3rd. Raymond James cut Canadian Western Bank from a “moderate buy” rating to a “hold” rating and boosted their price objective for the stock from C$52.00 to C$54.00 in a research report on Tuesday, September 3rd. Royal Bank of Canada raised 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 report on Tuesday, September 3rd. Desjardins upped their price target on Canadian Western Bank from C$53.00 to C$57.00 and gave the stock a “buy” rating in a report on Tuesday, September 3rd. Finally, Jefferies Financial Group raised their price objective on shares of 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. Six equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of C$48.57.

Insiders Place Their Bets

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

Canadian Western Bank Trading Up 0.9 %

The company has a 50 day moving average of C$55.17 and a 200 day moving average of C$44.87. The firm has a market cap of C$5.65 billion, a price-to-earnings ratio of 19.65, a price-to-earnings-growth ratio of 2.95 and a beta of 1.39.

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

Canadian Western Bank Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, September 26th. Stockholders of record on Thursday, September 12th were issued a $0.35 dividend. This represents a $1.40 annualized dividend and a dividend yield of 2.40%. The ex-dividend date was Thursday, September 12th. Canadian Western Bank’s payout ratio is currently 46.98%.

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.