Canadian Western Bank (TSE:CWB) Reaches New 52-Week High – Should You Buy?

Canadian Western Bank (TSE:CWB) hit a new 52-week high during trading on Monday . The company traded as high as C$60.86 and last traded at C$60.78, with a volume of 32855 shares trading hands. The stock had previously closed at C$60.21.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the company. Cormark raised their price target on Canadian Western Bank from C$46.00 to C$47.00 in a research note on Tuesday, September 3rd. Royal Bank of Canada lifted their target price 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. Cibc World Mkts upgraded shares of Canadian Western Bank to a “hold” rating in a research note on Tuesday, September 3rd. Scotiabank lifted their price objective on shares of Canadian Western Bank from C$52.00 to C$62.00 in a research note on Monday, November 25th. Finally, BMO Capital Markets increased their target price on shares of Canadian Western Bank from C$52.00 to C$58.00 in a research report on Monday, November 18th. Six investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of C$51.45.

Canadian Western Bank Price Performance

The firm has a market capitalization of C$5.96 billion, a P/E ratio of 20.66, a price-to-earnings-growth ratio of 2.95 and a beta of 1.39. The business has a 50 day moving average price of C$56.75 and a 200 day moving average price of C$47.29.

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.