Canadian Western Bank (TSE:CWB) Shares Cross Above 200 Day Moving Average of $38.40

Canadian Western Bank (TSE:CWB)’s share price crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of C$38.40 and traded as high as C$53.97. Canadian Western Bank shares last traded at C$53.90, with a volume of 303,706 shares traded.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the stock. BMO Capital Markets lowered shares of Canadian Western Bank from an “outperform” rating to a “market perform” rating and boosted their price target for the company from C$35.00 to C$52.00 in a research report on Wednesday, June 12th. Cormark boosted their target price on Canadian Western Bank from C$46.00 to C$47.00 in a report on Tuesday, September 3rd. Desjardins raised their price target on Canadian Western Bank from C$53.00 to C$57.00 and gave the company a “buy” rating in a report on Tuesday, September 3rd. Jefferies Financial Group boosted their price objective on 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. Finally, Royal Bank of Canada increased 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 equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of C$48.03.

Canadian Western Bank Trading Up 0.1 %

The firm has a market cap of C$5.21 billion, a P/E ratio of 18.72, a price-to-earnings-growth ratio of 2.95 and a beta of 1.39. The firm’s 50 day moving average is C$50.04 and its two-hundred day moving average is C$38.40.

Canadian Western Bank (TSE:CWB) last announced its quarterly earnings results on Friday, August 30th. The company reported C$0.60 earnings per share (EPS) for the quarter, missing the consensus estimate of C$0.87 by C($0.27). The firm had revenue of C$298.47 million during the quarter, compared to analyst estimates of C$296.88 million. Canadian Western Bank had a net margin of 29.23% and a return on equity of 7.51%. Analysts predict that Canadian Western Bank will post 3.5990566 EPS for the current fiscal year.

Canadian Western Bank Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, September 26th. Shareholders of record on Thursday, September 12th were issued 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 yield of 2.60%. Canadian Western Bank’s dividend payout ratio (DPR) is currently 48.61%.

Insider Buying and Selling at Canadian Western Bank

In related news, Senior Officer Jenny Siman sold 1,000 shares of the company’s stock in a transaction on Monday, July 22nd. The shares were sold at an average price of C$46.05, for a total value of C$46,050.00. In related news, Senior Officer Jenny Siman sold 1,000 shares of Canadian Western Bank 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 value of C$46,050.00. Also, Senior Officer Trent Albert Erickson sold 3,900 shares of the business’s stock in a transaction that occurred on Wednesday, September 4th. The shares were sold at an average price of C$51.42, for a total value of C$200,538.00. Insiders own 0.46% of the company’s stock.

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.