Canadian Western Bank (TSE:CWB) Price Target Raised to C$62.00

Canadian Western Bank (TSE:CWB) had its price target boosted by Scotiabank from C$52.00 to C$62.00 in a research note issued to investors on Monday morning,BayStreet.CA reports.

Several other brokerages also recently commented on CWB. Jefferies Financial Group increased their price target on Canadian Western Bank from C$52.00 to C$57.00 and gave the company a “hold” rating in a report on Tuesday, September 3rd. Desjardins lifted their target price on shares of Canadian Western Bank from C$53.00 to C$57.00 and gave the stock a “buy” rating in a report on Tuesday, September 3rd. Raymond James cut shares of Canadian Western Bank from a “moderate buy” rating to a “hold” rating and upped their price target for the company from C$52.00 to C$54.00 in a report on Tuesday, September 3rd. BMO Capital Markets lifted their price objective on Canadian Western Bank from C$52.00 to C$58.00 in a research note on Monday, November 18th. Finally, CIBC boosted their price objective on Canadian Western Bank from C$55.80 to C$60.30 and gave the stock a “neutral” rating in a research report on Tuesday, September 3rd. Six research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of C$51.13.

Canadian Western Bank Stock Down 0.3 %

TSE CWB opened at C$59.72 on Monday. The stock has a market capitalization of C$5.77 billion, a PE ratio of 20.04, a price-to-earnings-growth ratio of 2.95 and a beta of 1.39. The company has a 50 day moving average price of C$56.06 and a two-hundred day moving average price of C$46.12. Canadian Western Bank has a 12-month low of C$24.66 and a 12-month high of C$60.35.

Canadian Western Bank (TSE:CWB) last posted its earnings results on Friday, August 30th. The company reported C$0.60 earnings per share for the quarter, missing the consensus estimate of C$0.87 by C($0.27). The company had revenue of C$298.47 million for the quarter, compared to the consensus estimate of C$296.88 million. Canadian Western Bank had a net margin of 29.23% and a return on equity of 7.51%. As a group, equities analysts anticipate that Canadian Western Bank will post 3.656168 EPS for the current year.

Canadian Western Bank Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, September 26th. Shareholders 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 dividend on an annualized basis and a yield of 2.34%. Canadian Western Bank’s dividend payout ratio is currently 46.98%.

Insider Buying and Selling at Canadian Western Bank

In other news, Senior Officer Trent Albert Erickson sold 3,900 shares of the company’s 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 value of C$200,538.00. Insiders own 0.46% of the company’s stock.

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.