Canadian Western Bank (TSE:CWB) Price Target Raised to C$52.00

Canadian Western Bank (TSE:CWB) had its price target lifted by Scotiabank from C$30.00 to C$52.00 in a report published on Tuesday, BayStreet.CA reports. Scotiabank currently has an outperform rating on the stock.

A number of other brokerages have also weighed in on CWB. Jefferies Financial Group raised their price objective on shares of Canadian Western Bank from C$28.00 to C$52.00 and gave the company a hold rating in a report on Thursday, June 13th. Desjardins raised their price objective on shares of Canadian Western Bank from C$32.00 to C$52.00 and gave the company a buy rating in a report on Tuesday. Royal Bank of Canada lowered shares of Canadian Western Bank from an outperform rating to a sector perform rating and cut their price target for the stock from C$32.00 to C$28.00 in a research note on Monday, June 3rd. National Bankshares cut their price target on shares of Canadian Western Bank from C$37.00 to C$30.00 and set an outperform rating on the stock in a research note on Monday, June 3rd. Finally, CIBC lowered shares of Canadian Western Bank from a neutral rating to a tender rating and lifted their price target for the stock from C$30.00 to C$55.80 in a research note on Tuesday. Four analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of Moderate Buy and a consensus target price of C$40.22.

Canadian Western Bank Trading Up 0.2 %

Shares of CWB opened at C$42.30 on Tuesday. Canadian Western Bank has a twelve month low of C$23.21 and a twelve month high of C$44.00. The firm’s fifty day simple moving average is C$28.43 and its 200-day simple moving average is C$29.01. The firm has a market capitalization of C$4.08 billion, a price-to-earnings ratio of 12.82, a PEG ratio of 2.95 and a beta of 1.54.

Canadian Western Bank Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, June 20th. Shareholders of record on Thursday, June 6th were paid a $0.35 dividend. The ex-dividend date was Thursday, June 6th. This is a positive change from Canadian Western Bank’s previous quarterly dividend of $0.34. This represents a $1.40 dividend on an annualized basis and a yield of 3.31%. Canadian Western Bank’s payout ratio is currently 40.61%.

Insider Activity

In other news, Senior Officer Mark Stafford sold 1,708 shares of Canadian Western Bank stock in a transaction dated Tuesday, April 9th. The shares were sold at an average price of C$27.94, for a total value of C$47,728.69. In related news, Senior Officer Trent Albert Erickson acquired 4,312 shares of the firm’s stock in a transaction that occurred on Friday, June 14th. The shares were purchased at an average price of C$41.44 per share, with a total value of C$178,680.66. Also, Senior Officer Mark Stafford sold 1,708 shares of the company’s stock in a transaction dated Tuesday, April 9th. The shares were sold at an average price of C$27.94, for a total transaction of C$47,728.69. Insiders own 0.32% of the company’s stock.

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.