Canadian Western Bank (TSE:CWB) Reaches New 12-Month High on Analyst Upgrade

Canadian Western Bank (TSE:CWBGet Free Report)’s share price hit a new 52-week high during mid-day trading on Monday after Scotiabank raised their price target on the stock from C$52.00 to C$62.00. The company traded as high as C$60.35 and last traded at C$59.91, with a volume of 72181 shares traded. The stock had previously closed at C$59.91.

Several other brokerages also recently issued reports on CWB. Cormark raised their price objective on shares of Canadian Western Bank from C$46.00 to C$47.00 in a research note on Tuesday, September 3rd. Cibc World Mkts upgraded Canadian Western Bank to a “hold” rating in a report on Tuesday, September 3rd. Jefferies Financial Group boosted their target price 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, September 3rd. Desjardins boosted their target price on Canadian Western Bank from C$53.00 to C$57.00 and gave the company a “buy” rating in a research note on Tuesday, September 3rd. Finally, CIBC boosted their target price on 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. Six analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, Canadian Western Bank currently has an average rating of “Hold” and a consensus price target of C$51.13.

Get Our Latest Report on Canadian Western Bank

Insider Buying and Selling at Canadian Western Bank

In other Canadian Western Bank news, Senior Officer Trent Albert Erickson sold 3,900 shares of the company’s stock in a transaction 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. Insiders own 0.46% of the company’s stock.

Canadian Western Bank Stock Performance

The company has a market capitalization of C$5.77 billion, a price-to-earnings ratio of 20.03, a price-to-earnings-growth ratio of 2.95 and a beta of 1.39. The firm has a fifty day moving average price of C$55.91 and a 200-day moving average price of C$46.03.

Canadian Western Bank (TSE:CWBGet Free Report) last released its earnings results on Friday, August 30th. The company reported C$0.60 earnings per share (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 analyst estimates of C$296.88 million. Canadian Western Bank had a return on equity of 7.51% and a net margin of 29.23%. On average, sell-side analysts forecast that Canadian Western Bank will post 3.656168 EPS for the current fiscal year.

Canadian Western Bank Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 26th. Investors of record on Thursday, September 12th were given 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 2.34%. Canadian Western Bank’s dividend payout ratio is currently 46.98%.

Canadian Western Bank Company Profile

(Get Free Report)

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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