Canadian Western Bank (TSE:CWB) Given Average Recommendation of “Moderate Buy” by Brokerages

Canadian Western Bank (TSE:CWB) has earned an average rating of “Moderate Buy” from the twelve research firms that are currently covering the firm, Marketbeat Ratings reports. Six equities research analysts have rated the stock with a hold recommendation and six have given a buy recommendation to the company. The average 1-year target price among brokers that have issued a report on the stock in the last year is C$48.03.

CWB has been the topic of several research reports. Cibc World Mkts upgraded Canadian Western Bank to a “hold” rating in a report on Tuesday, September 3rd. Desjardins boosted their target price 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. 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 research report on Wednesday, June 12th. CIBC lifted their price target on shares of Canadian Western Bank from C$55.80 to C$60.30 and gave the stock a “neutral” rating in a report on Tuesday, September 3rd. Finally, Scotiabank increased their price objective on 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.

Canadian Western Bank Price Performance

Shares of TSE:CWB opened at C$53.47 on Friday. The company’s 50 day simple moving average is C$49.08 and its 200 day simple moving average is C$37.21. Canadian Western Bank has a 1 year low of C$24.66 and a 1 year high of C$53.79. The stock has a market capitalization of C$5.17 billion, a price-to-earnings ratio of 18.25, a price-to-earnings-growth ratio of 2.95 and a beta of 1.39.

Canadian Western Bank Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 26th. Investors of record on Thursday, September 12th will be given a dividend of $0.35 per share. The ex-dividend date is Thursday, September 12th. This represents a $1.40 annualized dividend 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 company’s stock in a transaction dated Monday, July 22nd. The shares were sold at an average price of C$46.05, for a total transaction of C$46,050.00. In other news, Senior Officer Trent Albert Erickson sold 3,900 shares of the firm’s stock in a transaction that occurred on Wednesday, September 4th. The stock was sold at an average price of C$51.42, for a total value of C$200,538.00. Also, Senior Officer Jenny Siman sold 1,000 shares of the company’s stock in a transaction on Monday, July 22nd. The stock was sold at an average price of C$46.05, for a total value of C$46,050.00. 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.