Canadian Western Bank (TSE:CWB) Hits New 1-Year High at $49.60

Canadian Western Bank (TSE:CWB)’s share price reached a new 52-week high on Friday . The stock traded as high as C$49.60 and last traded at C$49.60, with a volume of 15104 shares changing hands. The stock had previously closed at C$49.25.

Analysts Set New Price Targets

CWB has been the subject of several research analyst reports. BMO Capital Markets cut shares of Canadian Western Bank from an “outperform” rating to a “market perform” rating and upped their price target for the company from C$35.00 to C$52.00 in a report on Wednesday, June 12th. Scotiabank upped their price target on shares of Canadian Western Bank from C$30.00 to C$52.00 and gave the company an “outperform” rating in a report on Tuesday, June 18th. Jefferies Financial Group upped their price target 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. National Bankshares cut their price objective 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 report on Monday, June 3rd. Finally, Desjardins boosted their price objective on shares of Canadian Western Bank from C$52.00 to C$53.00 and gave the stock a “buy” rating in a research report on Tuesday, August 6th. 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, the company currently has a consensus rating of “Moderate Buy” and an average price target of C$40.29.

Canadian Western Bank Price Performance

The company’s 50-day simple moving average is C$45.72 and its 200-day simple moving average is C$34.10. The stock has a market capitalization of C$4.81 billion, a P/E ratio of 14.82, a price-to-earnings-growth ratio of 2.95 and a beta of 1.39.

Canadian Western Bank (TSE:CWB) last posted its quarterly earnings results on Friday, May 31st. The company reported C$0.81 earnings per share (EPS) for the quarter, missing the consensus estimate of C$0.86 by C($0.05). Canadian Western Bank had a return on equity of 8.66% and a net margin of 32.29%. The firm had revenue of C$285.92 million for the quarter, compared to the consensus estimate of C$290.33 million. On average, analysts forecast that Canadian Western Bank will post 3.703869 earnings per share for the current fiscal year.

Canadian Western Bank Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, June 20th. Shareholders of record on Thursday, June 6th were given a dividend of $0.35 per share. 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 2.81%. The ex-dividend date was Thursday, June 6th. Canadian Western Bank’s dividend payout ratio is 41.67%.

Insiders Place Their Bets

In other news, Senior Officer Trent Albert Erickson purchased 4,312 shares of the company’s stock in a transaction on Friday, June 14th. The shares were purchased at an average cost of C$41.44 per share, with a total value of C$178,680.66. In other news, Senior Officer Jenny Siman sold 1,000 shares of the stock in a transaction dated Monday, July 22nd. The shares were sold at an average price of C$46.05, for a total value of C$46,050.00. Also, Senior Officer Trent Albert Erickson acquired 4,312 shares of the company’s stock in a transaction dated Friday, June 14th. The stock was bought at an average cost of C$41.44 per share, for a total transaction of C$178,680.66. Insiders own 0.46% 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.