Canadian Western Bank (TSE:CWB) Stock Price Expected to Rise, Royal Bank of Canada Analyst Says

Canadian Western Bank (TSE:CWB) had its target price raised by research analysts at Royal Bank of Canada from C$52.00 to C$60.00 in a research report issued to clients and investors on Thursday,BayStreet.CA reports. The brokerage presently has a “sector perform” rating on the stock. Royal Bank of Canada’s target price indicates a potential upside of 6.40% from the company’s current price.

Several other brokerages have also issued reports on CWB. Cormark upped their target price on Canadian Western Bank from C$46.00 to C$47.00 in a research note on Tuesday, September 3rd. Desjardins increased their target price on shares of Canadian Western Bank from C$53.00 to C$57.00 and gave the company a “buy” rating in a report on Tuesday, September 3rd. CIBC lifted their target price on shares of Canadian Western Bank from C$60.30 to C$63.50 in a research report on Tuesday, November 26th. BMO Capital Markets upped their price target on shares of Canadian Western Bank from C$52.00 to C$58.00 in a research report on Monday, November 18th. Finally, Jefferies Financial Group lifted their price objective on 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. Six analysts have rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of C$54.83.

Canadian Western Bank Price Performance

CWB stock traded down C$0.73 during mid-day trading on Thursday, hitting C$56.39. 99,828 shares of the stock were exchanged, compared to its average volume of 366,839. The business has a fifty day moving average price of C$57.67 and a 200 day moving average price of C$49.52. Canadian Western Bank has a 12 month low of C$24.66 and a 12 month high of C$61.81. The stock has a market capitalization of C$5.45 billion, a price-to-earnings ratio of 18.92, a PEG ratio of 2.95 and a beta of 1.39.

About Canadian Western Bank

Canadian Western Bank is a diversified financial service organization providing banking, trust, and wealth management services. The group operates through a number of subsidiaries providing different areas of financial services. Canadian Western Bank offers business banking services including general commercial banking, equipment financing and leasing, real estate financing, and other services for small- and medium-sized companies, as well as personal banking services including chequing and savings accounts, loans, mortgages, and investment products.