Canadian Western Bank (TSE:CWB) Sets New 1-Year High – Here’s What Happened

by · The Markets Daily

Canadian Western Bank (TSE:CWB – Get Free Report)’s share price hit a new 52-week high during trading on Wednesday . The stock traded as high as C$57.75 and last traded at C$57.60, with a volume of 120680 shares. The stock had previously closed at C$57.23.

Analyst Ratings Changes

CWB has been the topic of several analyst reports. Desjardins lifted their target price on 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. Royal Bank of Canada increased 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 report on Tuesday, September 3rd. Cormark boosted their price target on shares of Canadian Western Bank from C$46.00 to C$47.00 in a report on Tuesday, September 3rd. Raymond James lowered 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 report on Tuesday, September 3rd. Finally, CIBC boosted their price target on shares of Canadian Western Bank from C$55.80 to C$60.30 and gave the stock a “neutral” rating in a report on Tuesday, September 3rd. Six equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of C$48.03.

View Our Latest Stock Analysis on Canadian Western Bank

Canadian Western Bank Stock Up 0.8 %

The firm’s 50-day simple moving average is C$54.06 and its 200-day simple moving average is C$42.88. The firm has a market capitalization of C$5.58 billion, a P/E ratio of 19.20, 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 EPS for the quarter, missing analysts’ consensus estimates 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 during the quarter, compared to the consensus estimate of C$296.88 million. As a group, analysts expect that Canadian Western Bank will post 3.656168 EPS for the current fiscal year.

Canadian Western Bank Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 26th. Investors of record on Thursday, September 12th were issued a dividend of $0.35 per share. The ex-dividend date of this dividend was Thursday, September 12th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 2.43%. Canadian Western Bank’s dividend payout ratio is 46.98%.

Insiders Place Their Bets

In other Canadian Western Bank 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 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 owned by 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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