Canadian Western Bank (TSE:CWB) Reaches New 1-Year High After Analyst Upgrade

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 stock 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 firms have also recently weighed in on CWB. Cormark raised their price target on Canadian Western Bank from C$46.00 to C$47.00 in a report on Tuesday, September 3rd. BMO Capital Markets lifted their price objective on shares of Canadian Western Bank from C$52.00 to C$58.00 in a report on Monday, November 18th. Raymond James cut Canadian Western Bank from a “moderate buy” rating to a “hold” rating and increased their target price for the company from C$52.00 to C$54.00 in a research note on Tuesday, September 3rd. Cibc World Mkts raised Canadian Western Bank to a “hold” rating in a research note on Tuesday, September 3rd. Finally, Desjardins upped their price objective on 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. Six investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of C$51.13.

Insider Buying and Selling

In other news, Senior Officer Trent Albert Erickson sold 3,900 shares of the 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 transaction of C$200,538.00. 0.46% of the stock is owned by corporate insiders.

Canadian Western Bank Stock Performance

The firm has a market cap of C$5.77 billion, a PE ratio of 20.04, a PEG ratio of 2.95 and a beta of 1.39. The company’s 50-day simple moving average is C$56.06 and its two-hundred day simple moving average is C$46.12.

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 analysts’ consensus estimates of C$0.87 by C($0.27). Canadian Western Bank had a return on equity of 7.51% and a net margin of 29.23%. The firm had revenue of C$298.47 million for the quarter, compared to analysts’ expectations of C$296.88 million. On average, analysts expect that Canadian Western Bank will post 3.656168 EPS for the current year.

Canadian Western Bank Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, September 26th. Stockholders 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 annualized dividend and a dividend yield of 2.34%. Canadian Western Bank’s dividend payout ratio (DPR) is presently 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.