Canadian Western Bank (TSE:CWB) Reaches New 52-Week High at $53.75

Canadian Western Bank (TSE:CWB) shares hit a new 52-week high during trading on Tuesday . The stock traded as high as C$53.75 and last traded at C$53.11, with a volume of 41320 shares traded. The stock had previously closed at C$53.63.

Wall Street Analysts Forecast Growth

CWB has been the topic of a number of research reports. Raymond James lowered Canadian Western Bank from a “moderate buy” rating to a “hold” rating and raised their price objective for the company from C$52.00 to C$54.00 in a report on Tuesday, September 3rd. Jefferies Financial Group raised their price target on shares of Canadian Western Bank from C$52.00 to C$57.00 and gave the stock a “hold” rating in a research note on Tuesday, September 3rd. CIBC upped their price objective on shares of Canadian Western Bank from C$55.80 to C$60.30 and gave the company a “neutral” rating in a research note on Tuesday, September 3rd. BMO Capital Markets lowered shares of Canadian Western Bank from an “outperform” rating to a “market perform” rating and raised their target price for the stock from C$35.00 to C$52.00 in a research note on Wednesday, June 12th. Finally, Royal Bank of Canada boosted their target price 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. Six analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of C$48.03.

Canadian Western Bank Trading Down 0.8 %

The business has a fifty day moving average price of C$49.24 and a 200 day moving average price of C$37.50. The firm has a market cap of C$5.14 billion, a PE ratio of 18.30, a P/E/G ratio of 2.95 and a beta of 1.39.

Canadian Western Bank (TSE:CWB) last announced its quarterly earnings results on Friday, August 30th. The company reported C$0.60 EPS for the quarter, missing the consensus estimate of C$0.87 by C($0.27). The company had revenue of C$298.47 million during the quarter, compared to analysts’ expectations of C$296.88 million. Canadian Western Bank had a net margin of 29.23% and a return on equity of 7.51%.

Canadian Western Bank Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 26th. Investors of record on Thursday, September 12th will be paid a dividend of $0.35 per share. The ex-dividend date is Thursday, September 12th. This represents a $1.40 annualized dividend and a yield of 2.63%. Canadian Western Bank’s dividend payout ratio is currently 47.78%.

Insider Buying and Selling at Canadian Western Bank

In other news, Senior Officer Trent Albert Erickson sold 3,900 shares of Canadian Western Bank stock in a transaction dated Wednesday, September 4th. The stock was sold at an average price of C$51.42, for a total transaction of C$200,538.00. In other news, Senior Officer Jenny Siman sold 1,000 shares of the company’s stock in a transaction that occurred on Monday, July 22nd. The stock was sold at an average price of C$46.05, for a total transaction of C$46,050.00. Also, Senior Officer Trent Albert Erickson sold 3,900 shares of the firm’s 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 currently owned by insiders.

Canadian Western Bank Company Profile

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.