Canadian Western Bank (TSE:CWB) Shares Pass Above Two Hundred Day Moving Average – Here’s Why

Canadian Western Bank (TSE:CWB) crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of C$53.08 and traded as high as C$59.43. Canadian Western Bank shares last traded at C$59.22, with a volume of 346,222 shares traded.

Wall Street Analyst Weigh In

Several research firms recently issued reports on CWB. Raymond James boosted their target price on shares of Canadian Western Bank from C$54.00 to C$59.00 and gave the company a “market perform” rating in a research note on Thursday, December 19th. CIBC lifted their price objective on shares of Canadian Western Bank from C$60.30 to C$63.50 in a report on Tuesday, November 26th. Royal Bank of Canada increased their target price on shares of Canadian Western Bank from C$52.00 to C$60.00 and gave the stock a “sector perform” rating in a research note on Thursday, December 19th. BMO Capital Markets raised their price objective on Canadian Western Bank from C$52.00 to C$58.00 in a report on Monday, November 18th. Finally, Scotiabank boosted their target price on shares of Canadian Western Bank from C$52.00 to C$62.00 in a research note on Monday, November 25th. Seven research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of C$54.83.

Canadian Western Bank Stock Up 0.5 %

The stock has a 50-day moving average of C$58.65 and a 200 day moving average of C$53.20. The stock has a market cap of C$5.76 billion, a PE ratio of 20.01, a P/E/G 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.