Canadian Western Bank (TSE:CWB) Reaches New 1-Year High at $43.70

Canadian Western Bank (TSE:CWB)’s stock price hit a new 52-week high during trading on Tuesday . The company traded as high as C$43.70 and last traded at C$43.55, with a volume of 669861 shares trading hands. The stock had previously closed at C$42.75.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on CWB shares. Veritas Investment Research reiterated a “buy” rating on shares of Canadian Western Bank in a report on Monday, March 4th. Scotiabank raised their price objective on Canadian Western Bank from C$30.00 to C$52.00 and gave the stock an “outperform” rating in a report on Tuesday, June 18th. BMO Capital Markets cut Canadian Western Bank from an “outperform” rating to a “market perform” rating and raised their price objective for the stock from C$35.00 to C$52.00 in a report on Wednesday, June 12th. CIBC cut Canadian Western Bank from a “neutral” rating to a “tender” rating and raised their price objective for the stock from C$30.00 to C$55.80 in a report on Tuesday, June 18th. Finally, Jefferies Financial Group raised their price objective on Canadian Western Bank from C$28.00 to C$52.00 and gave the stock a “hold” rating in a report on Thursday, June 13th. Four analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of C$40.22.

Canadian Western Bank Price Performance

The firm has a 50-day simple moving average of C$30.06 and a 200 day simple moving average of C$29.44. The company has a market capitalization of C$4.17 billion, a PE ratio of 13.08, a price-to-earnings-growth ratio of 2.95 and a beta of 1.54.

Canadian Western Bank (TSE:CWB) last released its quarterly earnings data on Friday, May 31st. The company reported C$0.81 EPS for the quarter, missing the consensus estimate of C$0.86 by C($0.05). Canadian Western Bank had a net margin of 31.97% and a return on equity of 8.58%. The company had revenue of C$285.92 million during the quarter, compared to analysts’ expectations of C$290.33 million. Equities research analysts expect that Canadian Western Bank will post 3.5933775 EPS for the current fiscal year.

Canadian Western Bank Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, June 20th. Shareholders of record on Thursday, June 6th were given 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 annualized dividend and a yield of 3.24%. Canadian Western Bank’s dividend payout ratio (DPR) is 40.61%.

Insider Buying and Selling at Canadian Western Bank

In other news, Senior Officer Supriya Anna Maria James sold 4,600 shares of Canadian Western Bank stock in a transaction dated Tuesday, April 23rd. The stock was sold at an average price of C$27.00, for a total transaction of C$124,203.22. In related news, Senior Officer Mark Stafford sold 1,708 shares of Canadian Western Bank stock in a transaction dated Tuesday, April 9th. The stock was sold at an average price of C$27.94, for a total value of C$47,728.69. Also, Senior Officer Supriya Anna Maria James sold 4,600 shares of Canadian Western Bank stock in a transaction dated Tuesday, April 23rd. The stock was sold at an average price of C$27.00, for a total value of C$124,203.22. 0.32% of the stock is currently owned by corporate insiders.

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.