Canadian Western Bank (TSE:CWB) Stock Crosses Above 200 Day Moving Average of $38.40

Canadian Western Bank (TSE:CWB) shares passed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of C$38.40 and traded as high as C$53.97. Canadian Western Bank shares last traded at C$53.90, with a volume of 303,706 shares trading hands.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the stock. Royal Bank of Canada raised their target price 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 note on Tuesday, September 3rd. Raymond James cut Canadian Western Bank from a “moderate buy” rating to a “hold” rating and boosted their price objective for the stock from C$52.00 to C$54.00 in a report on Tuesday, September 3rd. CIBC increased their target price on Canadian Western Bank from C$55.80 to C$60.30 and gave the stock a “neutral” rating in a research note on Tuesday, September 3rd. Scotiabank lifted their price target 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. Finally, Jefferies Financial Group upped their price objective 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 six have given a buy rating to the stock. Based on data from MarketBeat.com, Canadian Western Bank presently has a consensus rating of “Moderate Buy” and an average price target of C$48.03.

Canadian Western Bank Stock Performance

The company has a fifty day simple moving average of C$50.04 and a two-hundred day simple moving average of C$38.40. The stock has a market capitalization of C$5.21 billion, a price-to-earnings ratio of 18.72, a PEG ratio of 2.95 and a beta of 1.39.

Canadian Western Bank (TSE:CWB) last posted its quarterly earnings results on Friday, August 30th. The company reported C$0.60 EPS for the quarter, missing analysts’ consensus estimates of C$0.87 by C($0.27). The company had revenue of C$298.47 million during 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%. As a group, equities analysts anticipate that Canadian Western Bank will post 3.5990566 earnings per share for the current year.

Canadian Western Bank Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, September 26th. Investors 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 2.60%. Canadian Western Bank’s dividend payout ratio is 48.61%.

Insider Activity at Canadian Western Bank

In other news, Senior Officer Trent Albert Erickson sold 3,900 shares of the business’s stock in a transaction on Wednesday, September 4th. The stock was sold at an average price of C$51.42, for a total transaction of C$200,538.00. In related news, Senior Officer Jenny Siman sold 1,000 shares of the company’s stock in a transaction that occurred on Monday, July 22nd. The shares were 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 firm’s 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 transaction of C$200,538.00. 0.46% of the stock is currently owned by 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.