Canadian Western Bank (TSE:CWB) Price Target Raised to C$62.00

Canadian Western Bank (TSE:CWB) had its price target raised by Scotiabank from C$52.00 to C$62.00 in a report published on Monday morning,BayStreet.CA reports.

CWB has been the subject of several other research reports. CIBC upped their price objective on Canadian Western Bank from C$55.80 to C$60.30 and gave the company a “neutral” rating in a report on Tuesday, September 3rd. Desjardins upped 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 report on Tuesday, September 3rd. BMO Capital Markets lifted 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. Cormark increased their target price on shares of Canadian Western Bank from C$46.00 to C$47.00 in a research note on Tuesday, September 3rd. Finally, Royal Bank of Canada lifted their price target on shares of Canadian Western Bank from C$51.00 to C$52.00 and gave the stock a “sector perform” rating in a research report on Tuesday, September 3rd. Six research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of C$51.45.

Canadian Western Bank Stock Up 0.9 %

CWB stock opened at C$60.28 on Monday. The company has a 50-day simple moving average of C$56.18 and a 200 day simple moving average of C$46.22. The company has a market capitalization of C$5.83 billion, a P/E ratio of 20.18, a PEG ratio of 2.95 and a beta of 1.39. Canadian Western Bank has a fifty-two week low of C$24.66 and a fifty-two week high of C$60.35.

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

Canadian Western Bank Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 26th. Shareholders of record on Thursday, September 12th were given a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a yield of 2.32%. The ex-dividend date of this dividend was Thursday, September 12th. Canadian Western Bank’s payout ratio is 46.98%.

Insider Buying and Selling at Canadian Western Bank

In other Canadian Western Bank news, Senior Officer Trent Albert Erickson sold 3,900 shares of the firm’s stock in a transaction dated Wednesday, September 4th. The stock was sold at an average price of C$51.42, for a total transaction of C$200,538.00. Company insiders own 0.46% of the company’s stock.

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.