Canadian Western Bank (TSE:CWB) Reaches New 52-Week High Following Analyst Upgrade

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

Other research analysts have also issued reports about the stock. Raymond James lowered shares of Canadian Western Bank from a “moderate buy” rating to a “hold” rating and raised their price target for the company from C$52.00 to C$54.00 in a research report on Tuesday, September 3rd. Royal Bank of Canada boosted their target price on shares of Canadian Western Bank from C$51.00 to C$52.00 and gave the company a “sector perform” rating in a research note on Tuesday, September 3rd. Jefferies Financial Group upped 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 report on Tuesday, September 3rd. Desjardins increased their price target on Canadian Western Bank from C$53.00 to C$57.00 and gave the stock a “buy” rating in a research note on Tuesday, September 3rd. Finally, Cibc World Mkts raised shares of Canadian Western Bank to a “hold” rating in a report 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. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of C$48.57.

Insider Buying and Selling

In other Canadian Western Bank news, Senior Officer Trent Albert Erickson sold 3,900 shares of the company’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. 0.46% of the stock is currently owned by company insiders.

Canadian Western Bank Stock Up 0.2 %

The firm has a market cap of C$5.68 billion, a P/E ratio of 19.72, a P/E/G ratio of 2.95 and a beta of 1.39. The business has a fifty day simple moving average of C$55.45 and a 200-day simple moving average of C$45.07.

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

Canadian Western Bank Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, September 26th. Shareholders of record on Thursday, September 12th were given a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a yield of 2.38%. The ex-dividend date was Thursday, September 12th. Canadian Western Bank’s dividend payout ratio (DPR) is presently 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.