Canadian Western Bank (TSE:CWB) Reaches New 1-Year High on Analyst Upgrade

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

Several other research firms have also issued reports on CWB. Cormark lifted their price target on shares of Canadian Western Bank from C$46.00 to C$47.00 in a research report on Tuesday, September 3rd. CIBC boosted 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 report on Tuesday, September 3rd. Cibc World Mkts raised Canadian Western Bank to a “hold” rating in a report on Tuesday, September 3rd. Desjardins lifted their price target on Canadian Western Bank from C$53.00 to C$57.00 and gave the stock a “buy” rating in a research note on Tuesday, September 3rd. Finally, Raymond James lowered shares of Canadian Western Bank from a “moderate buy” rating to a “hold” rating and upped their price objective for the company from C$52.00 to C$54.00 in a research note on Tuesday, September 3rd. Six investment 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 a consensus price target of C$48.57.

Insider Buying and Selling

In other news, Senior Officer Trent Albert Erickson sold 3,900 shares of the firm’s stock in a transaction dated Wednesday, September 4th. The stock was 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 corporate insiders.

Canadian Western Bank Stock Up 0.9 %

The stock has a market cap of C$5.65 billion, a P/E ratio of 19.65, a price-to-earnings-growth ratio of 2.95 and a beta of 1.39. The firm’s 50-day moving average is C$55.17 and its two-hundred day moving average is C$44.87.

Canadian Western Bank (TSE:CWB) last released its quarterly earnings results on Friday, August 30th. The company reported C$0.60 earnings per share for the quarter, missing analysts’ consensus estimates 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 the consensus estimate of C$296.88 million. Analysts anticipate that Canadian Western Bank will post 3.656168 earnings per share for the current fiscal year.

Canadian Western Bank Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, September 26th. Stockholders of record on Thursday, September 12th were paid a dividend of $0.35 per share. The ex-dividend date of this dividend was Thursday, September 12th. This represents a $1.40 annualized dividend and a dividend yield of 2.40%. Canadian Western Bank’s dividend payout ratio (DPR) is presently 46.98%.

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.