Canadian Western Bank (TSE:CWB) Shares Cross Above 200-Day Moving Average of $29.78

Canadian Western Bank (TSE:CWB) shares passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of C$29.78 and traded as high as C$43.61. Canadian Western Bank shares last traded at C$43.35, with a volume of 640,849 shares traded.

Analyst Ratings Changes

CWB has been the subject of several research reports. Desjardins lifted their price target on shares of Canadian Western Bank from C$32.00 to C$52.00 and gave the company a “buy” rating in a research report on Tuesday, June 18th. Jefferies Financial Group boosted their target price on shares of Canadian Western Bank from C$28.00 to C$52.00 and gave the stock a “hold” rating in a research report on Thursday, June 13th. Royal Bank of Canada lowered Canadian Western Bank from an “outperform” rating to a “sector perform” rating and decreased their price objective for the stock from C$32.00 to C$28.00 in a report on Monday, June 3rd. National Bankshares dropped their target price on Canadian Western Bank from C$37.00 to C$30.00 and set an “outperform” rating on the stock in a report on Monday, June 3rd. Finally, CIBC downgraded Canadian Western Bank from a “neutral” rating to a “tender” rating and upped their price target for the stock from C$30.00 to C$55.80 in a report on Tuesday, June 18th. Four analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat, Canadian Western Bank presently has a consensus rating of “Moderate Buy” and an average price target of C$40.22.

Canadian Western Bank Stock Down 0.1 %

The firm has a 50 day moving average of C$31.39 and a 200 day moving average of C$29.78. The firm has a market cap of C$4.19 billion, a PE ratio of 13.14, a P/E/G ratio of 2.95 and a beta of 1.54.

Canadian Western Bank (TSE:CWB) last posted its quarterly earnings results on Friday, May 31st. The company reported C$0.81 earnings per share (EPS) for the quarter, missing the consensus estimate of C$0.86 by C($0.05). The business had revenue of C$285.92 million during the quarter, compared to the consensus estimate of C$290.33 million. Canadian Western Bank had a net margin of 31.97% and a return on equity of 8.58%. On average, research analysts anticipate that Canadian Western Bank will post 3.5933775 EPS for the current year.

Canadian Western Bank Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, June 20th. Investors of record on Thursday, June 6th were paid a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a dividend yield of 3.23%. This is a positive change from Canadian Western Bank’s previous quarterly dividend of $0.34. The ex-dividend date was Thursday, June 6th. Canadian Western Bank’s payout ratio is presently 40.61%.

Insider Buying and Selling

In other news, Senior Officer Mark Stafford sold 1,708 shares of the firm’s stock in a transaction that occurred on Tuesday, April 9th. The shares were sold at an average price of C$27.94, for a total value of C$47,728.69. In other Canadian Western Bank news, Senior Officer Mark Stafford sold 1,708 shares of Canadian Western Bank stock in a transaction that occurred on Tuesday, April 9th. The shares were sold at an average price of C$27.94, for a total transaction of C$47,728.69. Also, Senior Officer Trent Albert Erickson acquired 4,312 shares of the company’s stock in a transaction dated Friday, June 14th. The shares were bought at an average cost of C$41.44 per share, with a total value of C$178,680.66. 0.32% of the stock is currently owned by insiders.

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.