Canadian Western Bank (TSE:CWB) Hits New 12-Month High – Here’s Why

Canadian Western Bank (TSE:CWB) reached a new 52-week high during trading on Friday . The company traded as high as C$28.00 and last traded at C$57.80, with a volume of 882801 shares. The stock had previously closed at C$58.88.

Analyst Upgrades and Downgrades

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

Canadian Western Bank Stock Down 1.8 %

The company has a market capitalization of C$5.59 billion, a PE ratio of 19.40, a price-to-earnings-growth ratio of 2.95 and a beta of 1.39. The firm’s 50 day simple moving average is C$58.72 and its 200 day simple moving average is C$53.28.

Canadian Western Bank Company Profile

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.