Canadian Western Bank (TSE:CWB) Sets New 1-Year High – Here’s Why

Shares of Canadian Western Bank (TSE:CWB) reached a new 52-week high on Monday . The company traded as high as C$60.86 and last traded at C$60.78, with a volume of 32855 shares. The stock had previously closed at C$60.21.

Wall Street Analyst Weigh In

Several equities analysts have commented on the company. BMO Capital Markets upped their price target on Canadian Western Bank from C$52.00 to C$58.00 in a report on Monday, November 18th. Jefferies Financial Group boosted 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, September 3rd. Desjardins increased their price target on shares of 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. Raymond James downgraded Canadian Western Bank from a “moderate buy” rating to a “hold” rating and upped their price objective for the stock from C$52.00 to C$54.00 in a report on Tuesday, September 3rd. Finally, Cibc World Mkts upgraded shares of Canadian Western Bank to a “hold” rating in a research report on Tuesday, September 3rd. Six analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of C$51.45.

Canadian Western Bank Stock Up 1.0 %

The business’s 50 day simple moving average is C$56.75 and its 200 day simple moving average is C$47.29. The stock has a market cap of C$5.96 billion, a price-to-earnings ratio of 20.66, a PEG ratio of 2.95 and a beta of 1.39.

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.