Canadian Western Bank (TSE:CWB) Hits New 1-Year High – Should You Buy?

Canadian Western Bank (TSE:CWB)’s stock price reached a new 52-week high on Monday . The company traded as high as C$27.70 and last traded at C$59.49, with a volume of 192275 shares. The stock had previously closed at C$59.38.

Wall Street Analysts Forecast Growth

CWB has been the subject of several research reports. Raymond James raised their price target on shares of Canadian Western Bank from C$54.00 to C$59.00 and gave the stock a “market perform” rating in a research note on Thursday, December 19th. Desjardins lowered shares of Canadian Western Bank from a “moderate buy” rating to a “hold” rating in a research note on Friday, December 20th. BMO Capital Markets increased their price objective on shares of Canadian Western Bank from C$52.00 to C$58.00 in a research note on Monday, November 18th. Scotiabank raised their price objective on Canadian Western Bank from C$52.00 to C$62.00 in a report on Monday, November 25th. Finally, CIBC upped their target price on Canadian Western Bank from C$60.30 to C$63.50 in a report on Tuesday, November 26th. Seven investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat, Canadian Western Bank has a consensus rating of “Hold” and an average price target of C$54.83.

Canadian Western Bank Stock Up 0.4 %

The firm has a 50 day simple moving average of C$58.48 and a 200-day simple moving average of C$52.64. The stock has a market cap of C$5.74 billion, a P/E ratio of 19.93, a price-to-earnings-growth ratio of 2.95 and a beta of 1.39.

About Canadian Western Bank

Canadian Western Bank is a diversified financial service organization providing banking, trust, and wealth management services. The group operates through a number of subsidiaries providing different areas of financial services. Canadian Western Bank offers business banking services including general commercial banking, equipment financing and leasing, real estate financing, and other services for small- and medium-sized companies, as well as personal banking services including chequing and savings accounts, loans, mortgages, and investment products.