Canadian Western Bank (TSE:CWB) Stock Price Expected to Rise, Raymond James Analyst Says

Canadian Western Bank (TSE:CWB) had its price target upped by research analysts at Raymond James from C$54.00 to C$59.00 in a report issued on Thursday,BayStreet.CA reports. The brokerage presently has a “market perform” rating on the stock. Raymond James’ price objective points to a potential upside of 4.63% from the stock’s previous close.

Several other equities analysts have also recently issued reports on CWB. Desjardins raised their price objective 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. Cormark boosted 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. BMO Capital Markets upped their target price on Canadian Western Bank from C$52.00 to C$58.00 in a report on Monday, November 18th. CIBC upped their price objective on Canadian Western Bank from C$60.30 to C$63.50 in a research note on Tuesday, November 26th. Finally, Royal Bank of Canada raised their target price on 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. Six analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of C$54.83.

Canadian Western Bank Stock Performance

Shares of CWB stock traded down C$0.73 during trading hours on Thursday, hitting C$56.39. 99,828 shares of the company were exchanged, compared to its average volume of 366,839. The stock has a market capitalization of C$5.45 billion, a price-to-earnings ratio of 18.92, a P/E/G ratio of 2.95 and a beta of 1.39. Canadian Western Bank has a one year low of C$24.66 and a one year high of C$61.81. The business’s 50-day simple moving average is C$57.67 and its two-hundred day simple moving average is C$49.52.

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.