Canadian Western Bank (TSE:CWB) Price Target Increased to C$60.30 by Analysts at CIBC

Canadian Western Bank (TSE:CWB) had its price objective boosted by CIBC from C$55.80 to C$60.30 in a research note issued to investors on Tuesday, BayStreet.CA reports. They currently have a neutral rating on the stock.

Other equities analysts have also recently issued reports about the stock. Jefferies Financial Group raised their target price on shares of Canadian Western Bank from C$52.00 to C$57.00 and gave the company a hold rating in a research note on Tuesday. National Bankshares lowered their price objective on shares of Canadian Western Bank from C$37.00 to C$30.00 and set an outperform rating on the stock in a research note on Monday, June 3rd. Scotiabank raised their target price on shares of Canadian Western Bank from C$30.00 to C$52.00 and gave the company an outperform rating in a research note on Tuesday, June 18th. Desjardins boosted their price target on Canadian Western Bank from C$52.00 to C$53.00 and gave the stock a buy rating in a research report on Tuesday, August 6th. Finally, BMO Capital Markets lowered Canadian Western Bank from an outperform rating to a market perform rating and upped their price objective for the company from C$35.00 to C$52.00 in a research note on Wednesday, June 12th. Six equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of Moderate Buy and an average price target of C$48.03.

Canadian Western Bank Stock Performance

Shares of TSE CWB opened at C$51.63 on Tuesday. The stock has a market capitalization of C$4.99 billion, a PE ratio of 17.62, a price-to-earnings-growth ratio of 2.95 and a beta of 1.39. Canadian Western Bank has a 52 week low of C$24.66 and a 52 week high of C$52.80. The stock has a 50 day moving average price of C$47.46 and a 200 day moving average price of C$35.70.

Canadian Western Bank Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 26th. Shareholders of record on Thursday, September 12th will be issued a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a yield of 2.71%. The ex-dividend date is Thursday, September 12th. Canadian Western Bank’s dividend payout ratio is 47.78%.

Insider Transactions at Canadian Western Bank

In related news, Senior Officer Trent Albert Erickson sold 3,900 shares of the company’s stock in a transaction dated Wednesday, September 4th. The shares were sold at an average price of C$51.42, for a total value of C$200,538.00. 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 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 that occurred on Monday, July 22nd. The shares were 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.

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.