Canadian Western Bank (TSE:CWB) Hits New 52-Week High at $54.53

Canadian Western Bank (TSE:CWB) shares hit a new 52-week high during trading on Wednesday . The company traded as high as C$54.53 and last traded at C$54.39, with a volume of 335170 shares. The stock had previously closed at C$53.90.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the company. Scotiabank upped their price objective on Canadian Western Bank from C$30.00 to C$52.00 and gave the company an “outperform” rating in a research note on Tuesday, June 18th. Desjardins increased their price objective on Canadian Western Bank from C$53.00 to C$57.00 and gave the stock a “buy” rating in a research note on Tuesday, September 3rd. Cibc World Mkts upgraded shares of Canadian Western Bank to a “hold” rating in a research note on Tuesday, September 3rd. Cormark increased their target price on shares of Canadian Western Bank from C$46.00 to C$47.00 in a research report on Tuesday, September 3rd. Finally, Jefferies Financial Group lifted their price target on shares of Canadian Western Bank from C$52.00 to C$57.00 and gave the company a “hold” rating in a report on Tuesday, September 3rd. Six investment analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of C$48.03.

Canadian Western Bank Price Performance

The company’s 50 day moving average price is C$50.04 and its 200 day moving average price is C$38.40. The firm has a market capitalization of C$5.26 billion, a P/E ratio of 18.72, a PEG ratio of 2.95 and a beta of 1.39.

Canadian Western Bank (TSE:CWB) last released its 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). Canadian Western Bank had a net margin of 29.23% and a return on equity of 7.51%. The firm had revenue of C$298.47 million during the quarter, compared to analyst estimates of C$296.88 million. On average, research analysts anticipate that Canadian Western Bank will post 3.5990566 EPS for the current fiscal year.

Canadian Western Bank Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, September 26th. Shareholders of record on Thursday, September 12th were given a dividend of $0.35 per share. The ex-dividend date of this dividend was Thursday, September 12th. This represents a $1.40 dividend on an annualized basis and a yield of 2.57%. Canadian Western Bank’s payout ratio is presently 48.61%.

Insider Transactions at Canadian Western Bank

In other Canadian Western Bank news, Senior Officer Jenny Siman sold 1,000 shares of the firm’s stock in a transaction that occurred 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 other Canadian Western Bank news, Senior Officer Jenny Siman sold 1,000 shares of the company’s stock in a transaction that occurred 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. Also, Senior Officer Trent Albert Erickson sold 3,900 shares of Canadian Western Bank 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 owned by corporate 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.