Canadian Western Bank (TSE:CWB) Hits New 1-Year High – Here’s What Happened

by · The Cerbat Gem

Canadian Western Bank (TSE:CWB – Get Free Report)’s stock price hit a new 52-week high during trading on Tuesday . The company traded as high as C$56.23 and last traded at C$56.18, with a volume of 99223 shares changing hands. The stock had previously closed at C$55.72.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on the company. Royal Bank of Canada boosted 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 research report 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. Desjardins upped their target price on shares of Canadian Western Bank from C$53.00 to C$57.00 and gave the stock a “buy” rating in a research report on Tuesday, September 3rd. Raymond James downgraded shares of Canadian Western Bank from a “moderate buy” rating to a “hold” rating and lifted their price target for the company from C$52.00 to C$54.00 in a research report on Tuesday, September 3rd. Finally, Cormark upped their price target on Canadian Western Bank from C$46.00 to C$47.00 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’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of C$48.03.

Check Out Our Latest Stock Analysis on Canadian Western Bank

Canadian Western Bank Price Performance

The firm has a 50-day simple moving average of C$51.83 and a two-hundred day simple moving average of C$40.50. The company has a market cap of C$5.50 billion, a PE ratio of 19.08, a P/E/G ratio of 2.95 and a beta of 1.39.

Canadian Western Bank (TSE:CWB – Get Free Report) last announced its earnings results on Friday, August 30th. The company reported C$0.60 earnings per share 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%. Equities research analysts forecast that Canadian Western Bank will post 3.656168 EPS for the current year.

Canadian Western Bank Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, September 26th. Shareholders of record on Thursday, September 12th were paid a $0.35 dividend. The ex-dividend date was Thursday, September 12th. This represents a $1.40 annualized dividend and a yield of 2.46%. Canadian Western Bank’s payout ratio is currently 46.98%.

Insider Buying and Selling at Canadian Western Bank

In other news, Senior Officer Jenny Siman sold 1,000 shares of the firm’s stock in a transaction on Monday, July 22nd. The stock was sold at an average price of C$46.05, for a total transaction of C$46,050.00. In other news, Senior Officer Jenny Siman sold 1,000 shares of the company’s stock in a transaction dated Monday, July 22nd. The shares were sold at an average price of C$46.05, for a total transaction of C$46,050.00. Also, Senior Officer Trent Albert Erickson sold 3,900 shares of the firm’s 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 currently owned by insiders.

Canadian Western Bank Company Profile

(Get Free Report)

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.

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