Canadian Western Bank (TSE:CWB) Sets New 12-Month High Following Analyst Upgrade

Shares of Canadian Western Bank (TSE:CWB) reached a new 52-week high during mid-day trading on Monday after Scotiabank raised their price target on the stock from C$52.00 to C$62.00. The company traded as high as C$60.35 and last traded at C$59.91, with a volume of 72181 shares. The stock had previously closed at C$59.91.

Several other research analysts have also issued reports on CWB. CIBC increased their target price 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. Cormark increased their price objective on Canadian Western Bank from C$46.00 to C$47.00 in a report on Tuesday, September 3rd. Cibc World Mkts upgraded shares of Canadian Western Bank to a “hold” rating in a report on Tuesday, September 3rd. Desjardins increased their price target on shares of 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. Finally, Raymond James cut shares of Canadian Western Bank from a “moderate buy” rating to a “hold” rating and lifted their price target for the company from C$52.00 to C$54.00 in a research report on Tuesday, September 3rd. Six equities 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.com, the stock currently has a consensus rating of “Hold” and an average price target of C$51.13.

Insider Buying and Selling at Canadian Western Bank

In other Canadian Western Bank news, Senior Officer Trent Albert Erickson sold 3,900 shares of the stock in a transaction 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 owned by company insiders.

Canadian Western Bank Stock Performance

The business’s fifty day moving average price is C$56.06 and its 200-day moving average price is C$46.12. The stock has a market cap of C$5.77 billion, a PE ratio of 20.04, a P/E/G ratio of 2.95 and a beta of 1.39.

Canadian Western Bank (TSE:CWB) last issued its quarterly earnings data on Friday, August 30th. The company reported C$0.60 earnings per share 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 company had revenue of C$298.47 million for the quarter, compared to the consensus estimate of C$296.88 million. Analysts forecast that Canadian Western Bank will post 3.656168 earnings per share for the current fiscal year.

Canadian Western Bank Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, September 26th. Stockholders of record on Thursday, September 12th were paid a $0.35 dividend. 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 2.34%. Canadian Western Bank’s dividend payout ratio (DPR) is currently 46.98%.

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.