Canadian Western Bank (TSE:CWB) Reaches New 12-Month High on Analyst Upgrade

Shares of Canadian Western Bank (TSE:CWB) reached a new 52-week high during mid-day trading on Monday after Scotiabank raised their price target on the stock from C$52.00 to C$62.00. The stock traded as high as C$60.35 and last traded at C$59.91, with a volume of 72181 shares traded. The stock had previously closed at C$59.91.

Several other equities analysts have also recently commented on CWB. Desjardins raised their price target on shares of Canadian Western Bank from C$53.00 to C$57.00 and gave the company a “buy” rating in a research report on Tuesday, September 3rd. Raymond James lowered shares of Canadian Western Bank from a “moderate buy” rating to a “hold” rating and boosted their price target for the stock from C$52.00 to C$54.00 in a research note on Tuesday, September 3rd. CIBC upped their target price on shares of 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. Royal Bank of Canada upped their price objective on shares of Canadian Western Bank from C$51.00 to C$52.00 and gave the company a “sector perform” rating in a research note on Tuesday, September 3rd. Finally, Cormark increased their price objective on shares of Canadian Western Bank from C$46.00 to C$47.00 in a research report on Tuesday, September 3rd. Six research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus target price of C$51.13.

Insider Activity at Canadian Western Bank

In other Canadian Western Bank 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. 0.46% of the stock is currently owned by insiders.

Canadian Western Bank Stock Performance

The company’s 50 day moving average price is C$55.91 and its 200-day moving average price is C$46.03. The company has a market cap of C$5.77 billion, a price-to-earnings ratio of 20.03, a PEG ratio of 2.95 and a beta of 1.39.

Canadian Western Bank (TSE:CWB) last announced its 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 firm had revenue of C$298.47 million for the quarter, compared to analyst estimates 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 year.

Canadian Western Bank Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, September 26th. Investors of record on Thursday, September 12th were paid a $0.35 dividend. The ex-dividend date was Thursday, September 12th. This represents a $1.40 annualized dividend and a dividend yield of 2.34%. Canadian Western Bank’s payout ratio is 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.