Canadian Western Bank (TSE:CWB) Reaches New 52-Week High After Analyst Upgrade

Canadian Western Bank (TSE:CWB) hit a new 52-week high during mid-day trading on Monday after BMO Capital Markets raised their price target on the stock from C$52.00 to C$58.00. The company traded as high as C$58.70 and last traded at C$58.44, with a volume of 136659 shares traded. The stock had previously closed at C$57.93.

A number of other analysts have also issued reports on CWB. Desjardins lifted their target price on Canadian Western Bank from C$53.00 to C$57.00 and gave the stock a “buy” rating in a research report on Tuesday, September 3rd. Royal Bank of Canada lifted their target price on 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. Jefferies Financial Group lifted their target price on Canadian Western Bank from C$52.00 to C$57.00 and gave the stock a “hold” rating in a research report on Tuesday, September 3rd. Cibc World Mkts raised Canadian Western Bank to a “hold” rating in a report on Tuesday, September 3rd. Finally, CIBC boosted their price objective on Canadian Western Bank from C$55.80 to C$60.30 and gave the company a “neutral” rating in a report on Tuesday, September 3rd. Six 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 stock currently has a consensus rating of “Moderate Buy” and an average target price of C$48.57.

Insider Transactions at Canadian Western Bank

In other Canadian Western Bank news, Senior Officer Trent Albert Erickson sold 3,900 shares of the company’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. Insiders own 0.46% of the company’s stock.

Canadian Western Bank Price Performance

The company has a market cap of C$5.67 billion, a P/E ratio of 19.68, a PEG ratio of 2.95 and a beta of 1.39. The company has a fifty day simple moving average of C$55.32 and a 200-day simple moving average of C$44.97.

Canadian Western Bank (TSE:CWB) last posted 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). The company had revenue of C$298.47 million during the quarter, compared to the consensus estimate 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, analysts anticipate that Canadian Western Bank will post 3.656168 EPS for the current year.

Canadian Western Bank Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, September 26th. Shareholders of record on Thursday, September 12th were issued a $0.35 dividend. The ex-dividend date was Thursday, September 12th. This represents a $1.40 annualized dividend and a dividend yield of 2.39%. Canadian Western Bank’s dividend payout ratio is currently 46.98%.

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.