Canadian Western Bank (TSE:CWB) Sets New 12-Month High – Time to Buy?

by · The Markets Daily

Shares of Canadian Western Bank (TSE:CWB – Get Free Report) hit a new 52-week high during mid-day trading on Wednesday . The company traded as high as C$57.66 and last traded at C$57.47, with a volume of 76440 shares. The stock had previously closed at C$57.19.

Analyst Ratings Changes

CWB has been the subject of a number of research reports. Cibc World Mkts raised shares of Canadian Western Bank to a “hold” rating in a report on Tuesday, September 3rd. Jefferies Financial Group boosted their target price on Canadian Western Bank from C$52.00 to C$57.00 and gave the stock a “hold” rating in a research report on Tuesday, September 3rd. CIBC raised their price target on Canadian Western Bank from C$55.80 to C$60.30 and gave the company a “neutral” rating in a report on Tuesday, September 3rd. Royal Bank of Canada boosted their price objective on Canadian Western Bank from C$51.00 to C$52.00 and gave the stock a “sector perform” rating in a report on Tuesday, September 3rd. Finally, Raymond James downgraded shares of Canadian Western Bank from a “moderate buy” rating to a “hold” rating and upped their target price for the company from C$52.00 to C$54.00 in a research report on Tuesday, September 3rd. Six research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of C$48.03.

Check Out Our Latest Report on Canadian Western Bank

Canadian Western Bank Trading Up 0.5 %

The stock’s 50 day moving average is C$53.22 and its two-hundred day moving average is C$41.83. The stock has a market capitalization of C$5.56 billion, a price-to-earnings ratio of 19.19, a price-to-earnings-growth ratio of 2.95 and a beta of 1.39.

Canadian Western Bank (TSE:CWB – Get Free Report) last released 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 return on equity of 7.51% and a net margin of 29.23%. The company had revenue of C$298.47 million for the quarter, compared to the consensus estimate of C$296.88 million. On average, research analysts anticipate that Canadian Western Bank will post 3.656168 earnings per share for the current year.

Canadian Western Bank Announces Dividend

The company also recently disclosed 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 2.44%. Canadian Western Bank’s dividend payout ratio is presently 46.98%.

Insider Buying and Selling

In other news, Senior Officer Trent Albert Erickson sold 3,900 shares of Canadian Western Bank stock in a transaction that occurred on 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.

About Canadian Western Bank

(Get Free Report)

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.

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