Canadian Western Bank (TSE:CWB) Price Target Raised to C$63.50 at CIBC

Canadian Western Bank (TSE:CWB) had its price objective raised by CIBC from C$60.30 to C$63.50 in a research note published on Tuesday morning,BayStreet.CA reports.

Several other equities research analysts have also commented on the company. Cibc World Mkts upgraded 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. 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 research report on Tuesday, September 3rd. Royal Bank of Canada increased their price objective on shares of Canadian Western Bank from C$51.00 to C$52.00 and gave the stock a “sector perform” rating in a research report on Tuesday, September 3rd. Finally, BMO Capital Markets lifted their target price on shares of Canadian Western Bank from C$52.00 to C$58.00 in a report on Monday, November 18th. Six analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of C$51.45.

Canadian Western Bank Stock Performance

Shares of CWB stock opened at C$59.74 on Tuesday. The firm has a market capitalization of C$5.78 billion, a price-to-earnings ratio of 20.05, a price-to-earnings-growth ratio of 2.95 and a beta of 1.39. Canadian Western Bank has a one year low of C$24.66 and a one year high of C$60.35. The company has a 50 day moving average price of C$56.06 and a 200 day moving average price of C$46.12.

Canadian Western Bank (TSE:CWB) last announced its quarterly earnings data 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 company had revenue of C$298.47 million for 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%. As a group, equities analysts forecast that Canadian Western Bank will post 3.656168 EPS for the current fiscal year.

Canadian Western Bank Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 26th. Shareholders of record on Thursday, September 12th were issued a $0.35 dividend. 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 2.34%. Canadian Western Bank’s dividend payout ratio is currently 46.98%.

Insider Activity

In related news, Senior Officer Trent Albert Erickson sold 3,900 shares of the business’s stock in a transaction dated Wednesday, September 4th. The stock was 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.