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

Canadian Western Bank (TSE:CWB) had its price objective upped by Scotiabank from C$52.00 to C$62.00 in a research note released on Monday,BayStreet.CA reports.

CWB has been the topic of several other research reports. Raymond James lowered shares of Canadian Western Bank from a “moderate buy” rating to a “hold” rating and increased their price target for the stock from C$52.00 to C$54.00 in a research note on Tuesday, September 3rd. Jefferies Financial Group increased their target price on shares of 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. Royal Bank of Canada boosted their price target 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. BMO Capital Markets increased their price objective on Canadian Western Bank from C$52.00 to C$58.00 in a report on Monday, November 18th. Finally, Cibc World Mkts upgraded Canadian Western Bank to a “hold” rating in a report on Tuesday, September 3rd. Six analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat, Canadian Western Bank currently has a consensus rating of “Hold” and an average price target of C$51.45.

Canadian Western Bank Trading Up 0.9 %

CWB opened at C$60.28 on Monday. The stock has a fifty day moving average price of C$56.18 and a 200 day moving average price of C$46.22. Canadian Western Bank has a 1 year low of C$24.66 and a 1 year high of C$60.35. The stock has a market cap of C$5.83 billion, a price-to-earnings ratio of 20.18, 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 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 firm had revenue of C$298.47 million during the quarter, compared to the consensus estimate of C$296.88 million. As a group, sell-side analysts forecast that Canadian Western Bank will post 3.656168 earnings per share for the current fiscal year.

Canadian Western Bank Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, September 26th. Stockholders of record on Thursday, September 12th were issued a dividend of $0.35 per share. The ex-dividend date was Thursday, September 12th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 2.32%. Canadian Western Bank’s dividend payout ratio (DPR) is presently 46.98%.

Insider Activity

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