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

Canadian Western Bank (TSE:CWB)’s stock price reached a new 52-week high during mid-day trading on Monday after CIBC raised their price target on the stock from C$60.30 to C$63.50. The stock 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 equities analysts have also issued reports on CWB. 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 note on Tuesday, September 3rd. Desjardins upped 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 research report on Tuesday, September 3rd. Cibc World Mkts upgraded shares of Canadian Western Bank to a “hold” rating in a research report on Tuesday, September 3rd. Raymond James downgraded shares of Canadian Western Bank from a “moderate buy” rating to a “hold” rating and boosted their price target for the stock from C$52.00 to C$54.00 in a research note on Tuesday, September 3rd. Finally, BMO Capital Markets raised their price objective on shares of Canadian Western Bank from C$52.00 to C$58.00 in a research note on Monday, November 18th. Six analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, Canadian Western Bank has an average rating of “Hold” and a consensus target price of C$51.45.

Insider Buying and Selling at Canadian Western Bank

In related news, Senior Officer Trent Albert Erickson sold 3,900 shares of the business’s stock in a transaction that occurred 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 firm has a market capitalization of C$5.78 billion, a P/E ratio of 20.05, a PEG ratio of 2.95 and a beta of 1.39. The firm’s 50-day moving average is C$56.06 and its 200 day moving average is C$46.12.

Canadian Western Bank (TSE:CWB) last released its quarterly 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 firm had revenue of C$298.47 million during the quarter, compared to analyst estimates of C$296.88 million. Canadian Western Bank had a net margin of 29.23% and a return on equity of 7.51%. As a group, research analysts expect that Canadian Western Bank will post 3.656168 EPS for the current fiscal year.

Canadian Western Bank Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, September 26th. Shareholders of record on Thursday, September 12th were paid a $0.35 dividend. This represents a $1.40 annualized dividend and a yield of 2.34%. The ex-dividend date of this dividend was Thursday, September 12th. Canadian Western Bank’s payout ratio is 46.98%.

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.