Canadian Western Bank (TSE:CWB) Shares Cross Above 200 Day Moving Average – What’s Next?

Canadian Western Bank (TSE:CWB)’s share price passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of C$48.73 and traded as high as C$58.52. Canadian Western Bank shares last traded at C$58.02, with a volume of 273,639 shares changing hands.

Analysts Set New Price Targets

A number of equities analysts have commented on CWB shares. BMO Capital Markets upped their target price on shares of Canadian Western Bank from C$52.00 to C$58.00 in a research note on Monday, November 18th. Desjardins raised their price objective 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. Cormark upped their target price on Canadian Western Bank from C$46.00 to C$47.00 in a report on Tuesday, September 3rd. Royal Bank of Canada raised their price objective on Canadian Western Bank from C$51.00 to C$52.00 and gave the company a “sector perform” rating in a research report on Tuesday, September 3rd. Finally, CIBC raised their price target on shares of Canadian Western Bank from C$60.30 to C$63.50 in a report on Tuesday, November 26th. Six analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of C$53.39.

Canadian Western Bank Stock Performance

The company has a market capitalization of C$5.61 billion, a price-to-earnings ratio of 19.47, a PEG ratio of 2.95 and a beta of 1.39. The business’s 50 day moving average is C$57.50 and its 200 day moving average is C$48.88.

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.