Canadian Western Bank (TSE:CWB) Sets New 1-Year High at $27.62

Canadian Western Bank (TSE:CWB) shares reached a new 52-week high during mid-day trading on Tuesday . The stock traded as high as C$27.62 and last traded at C$53.36, with a volume of 57206 shares changing hands. The stock had previously closed at C$53.34.

Wall Street Analysts Forecast Growth

CWB has been the topic of several recent analyst reports. Cormark upped their price objective on shares of Canadian Western Bank from C$46.00 to C$47.00 in a report on Tuesday, September 3rd. Scotiabank upped their price objective 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. Cibc World Mkts upgraded shares of Canadian Western Bank to a “hold” rating in a report on Tuesday, September 3rd. Desjardins increased their price target on shares of Canadian Western Bank from C$53.00 to C$57.00 and gave the stock a “buy” rating in a report on Tuesday, September 3rd. Finally, Royal Bank of Canada increased their price target on shares of Canadian Western Bank from C$51.00 to C$52.00 and gave the stock a “sector perform” rating in a report on Tuesday, September 3rd. Six analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, Canadian Western Bank has a consensus rating of “Moderate Buy” and an average price target of C$48.03.

Canadian Western Bank Stock Performance

The firm has a market cap of C$5.17 billion, a price-to-earnings ratio of 18.22, a PEG ratio of 2.95 and a beta of 1.39. The business’s 50 day moving average price is C$48.74 and its 200 day moving average price is C$36.98.

Canadian Western Bank Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 26th. Stockholders of record on Thursday, September 12th will be paid a dividend of $0.35 per share. The ex-dividend date is Thursday, September 12th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 2.62%. Canadian Western Bank’s payout ratio is 47.78%.

Insider Transactions at Canadian Western Bank

In other news, Senior Officer Jenny Siman sold 1,000 shares of the stock in a transaction that occurred on Monday, July 22nd. The stock was sold at an average price of C$46.05, for a total transaction of C$46,050.00. In other news, Senior Officer Jenny Siman sold 1,000 shares of the stock in a transaction that occurred on Monday, July 22nd. The stock was sold at an average price of C$46.05, for a total transaction of C$46,050.00. Also, Senior Officer Trent Albert Erickson sold 3,900 shares of the stock in a transaction that occurred on Wednesday, September 4th. The shares were sold at an average price of C$51.42, for a total value of C$200,538.00. Corporate 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.