Canadian Western Bank (TSE:CWB) Reaches New 12-Month High at $54.53

Canadian Western Bank (TSE:CWB) shares hit a new 52-week high on Wednesday . The stock traded as high as C$54.53 and last traded at C$54.39, with a volume of 335170 shares. The stock had previously closed at C$53.90.

Analysts Set New Price Targets

A number of analysts have recently commented on the stock. Raymond James lowered shares of 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 research report on Tuesday, September 3rd. Royal Bank of Canada boosted 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 increased their price objective on shares of 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. Cibc World Mkts raised Canadian Western Bank to a “hold” rating in a research report on Tuesday, September 3rd. Finally, Jefferies Financial Group increased their price target on Canadian Western Bank from C$52.00 to C$57.00 and gave the company a “hold” rating in a research report on Tuesday, September 3rd. Six equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of C$48.03.

Canadian Western Bank Price Performance

The stock has a 50-day moving average price of C$50.04 and a 200-day moving average price of C$38.40. The company has a market capitalization of C$5.26 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 announced its quarterly earnings results 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). Canadian Western Bank had a net margin of 29.23% and a return on equity of 7.51%. The business had revenue of C$298.47 million for the quarter, compared to analyst estimates of C$296.88 million. Equities analysts forecast that Canadian Western Bank will post 3.5990566 earnings per share for the current year.

Canadian Western Bank Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, September 26th. Investors of record on Thursday, September 12th were issued a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a dividend yield of 2.57%. The ex-dividend date was Thursday, September 12th. Canadian Western Bank’s payout ratio is 48.61%.

Insider Activity 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 related news, Senior Officer Trent Albert Erickson sold 3,900 shares of the firm’s stock in a transaction dated Wednesday, September 4th. The shares were sold at an average price of C$51.42, for a total transaction of C$200,538.00. Also, Senior Officer Jenny Siman sold 1,000 shares of the business’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. 0.46% of the stock is owned by company insiders.

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.