Canadian Western Bank (TSE:CWB) Stock Passes Above Two Hundred Day Moving Average – Time to Sell?

Shares of Canadian Western Bank (TSE:CWB) crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of C$53.08 and traded as high as C$59.43. Canadian Western Bank shares last traded at C$59.22, with a volume of 346,222 shares traded.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on the company. Scotiabank lifted their target price on Canadian Western Bank from C$52.00 to C$62.00 in a research report on Monday, November 25th. Raymond James boosted their price objective on shares of Canadian Western Bank from C$54.00 to C$59.00 and gave the stock a “market perform” rating in a research report on Thursday, December 19th. BMO Capital Markets raised their target price on shares of Canadian Western Bank from C$52.00 to C$58.00 in a research report on Monday, November 18th. CIBC boosted their price target on shares of Canadian Western Bank from C$60.30 to C$63.50 in a research report on Tuesday, November 26th. Finally, Royal Bank of Canada raised their price objective on Canadian Western Bank from C$52.00 to C$60.00 and gave the company a “sector perform” rating in a report on Thursday, December 19th. Seven equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of C$54.83.

Canadian Western Bank Stock Performance

The company has a market capitalization of C$5.73 billion, a P/E ratio of 19.87, a PEG ratio of 2.95 and a beta of 1.39. The stock’s fifty day moving average price is C$58.61 and its 200-day moving average price is C$53.08.

Canadian Western Bank Company Profile

Canadian Western Bank is a diversified financial service organization providing banking, trust, and wealth management services. The group operates through a number of subsidiaries providing different areas of financial services. Canadian Western Bank offers business banking services including general commercial banking, equipment financing and leasing, real estate financing, and other services for small- and medium-sized companies, as well as personal banking services including chequing and savings accounts, loans, mortgages, and investment products.