CIBC Forecasts Strong Price Appreciation for Canadian Western Bank (TSE:CWB) Stock

Canadian Western Bank (TSE:CWB) had its price target raised by CIBC from C$60.30 to C$63.50 in a report released on Tuesday,BayStreet.CA reports.

Other equities analysts have also recently issued reports about the company. Scotiabank raised their price objective on Canadian Western Bank from C$52.00 to C$62.00 in a research note on Monday. Royal Bank of Canada raised 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 research report on Tuesday, September 3rd. Cibc World Mkts raised shares of Canadian Western Bank to a “hold” rating in a research report on Tuesday, September 3rd. BMO Capital Markets raised their target price on shares of Canadian Western Bank from C$52.00 to C$58.00 in a report on Monday, November 18th. Finally, Jefferies Financial Group upped their target price on Canadian Western Bank from C$52.00 to C$57.00 and gave the company a “hold” rating in a report on Tuesday, September 3rd. Six research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of C$51.45.

Canadian Western Bank Stock Performance

Shares of Canadian Western Bank stock opened at C$59.74 on Tuesday. The firm has a market cap of C$5.78 billion, a PE ratio of 20.05, a price-to-earnings-growth ratio of 2.95 and a beta of 1.39. Canadian Western Bank has a 1 year low of C$24.66 and a 1 year high of C$60.35. The firm’s 50-day simple moving average is C$56.06 and its 200-day simple moving average is C$46.12.

Canadian Western Bank (TSE:CWB) last announced its quarterly earnings data on Friday, August 30th. The company reported C$0.60 earnings per share (EPS) for the quarter, missing the consensus estimate of C$0.87 by C($0.27). The firm had revenue of C$298.47 million for the quarter, compared to analyst estimates of C$296.88 million. Canadian Western Bank had a net margin of 29.23% and a return on equity of 7.51%. On average, equities analysts predict that Canadian Western Bank will post 3.656168 earnings per share for the current year.

Canadian Western Bank Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 26th. Stockholders of record on Thursday, September 12th were given a dividend of $0.35 per share. The ex-dividend date was Thursday, September 12th. This represents a $1.40 annualized dividend and a dividend yield of 2.34%. Canadian Western Bank’s dividend payout ratio is presently 46.98%.

Insider Buying and Selling

In related news, Senior Officer Trent Albert Erickson sold 3,900 shares of the company’s stock in a transaction dated 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.

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.