Canadian Western Bank (CWB) PT Lowered to C$36.00

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Canadian Western Bank (TSE:CWB) had its price objective trimmed by Eight Capital from C$43.00 to C$36.00 in a report published on Friday morning.

A number of other brokerages have also weighed in on CWB. Royal Bank of Canada dropped their target price on shares of Canadian Western Bank from C$42.00 to C$40.00 and set an outperform rating for the company in a research report on Friday, August 31st. Barclays dropped their target price on shares of Canadian Western Bank from C$38.00 to C$35.00 in a research report on Friday, November 16th. Canaccord Genuity dropped their target price on shares of Canadian Western Bank from C$38.00 to C$36.00 in a research report on Thursday, November 22nd. National Bank Financial dropped their target price on shares of Canadian Western Bank from C$38.00 to C$32.00 and set a sector perform rating for the company in a research report on Friday. Finally, TD Securities dropped their target price on shares of Canadian Western Bank from C$33.00 to C$31.00 in a research report on Friday. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and two have given a buy rating to the stock. The stock presently has a consensus rating of Hold and an average price target of C$35.75.

Shares of TSE:CWB traded down C$0.13 during midday trading on Friday, reaching C$26.55. 461,600 shares of the company were exchanged, compared to its average volume of 262,359. Canadian Western Bank has a one year low of C$25.31 and a one year high of C$40.83.

The business also recently announced a quarterly dividend, which will be paid on Thursday, January 3rd. Investors of record on Friday, December 14th will be given a dividend of $0.26 per share. The ex-dividend date of this dividend is Thursday, December 13th. This represents a $1.04 dividend on an annualized basis and a dividend yield of 3.92%. Canadian Western Bank’s dividend payout ratio is 37.83%.

In related news, insider Lester Shore bought 1,000 shares of the company’s stock in a transaction that occurred on Wednesday, October 31st. The stock was purchased at an average price of C$30.73 per share, for a total transaction of C$30,730.00. In the last 90 days, insiders have purchased 2,850 shares of company stock valued at $90,443.

About Canadian Western Bank

Canadian Western Bank provides personal and business banking products and services primarily in Western Canada. The company offers current, savings, cash management, US dollar, senior, chequing, youth, and student accounts, as well as specialized accounts, including corporate and commercial, organization, strata solution/condo, general trust, and trust fund investment accounts.

See Also: Retained Earnings

Analyst Recommendations for Canadian Western Bank (TSE:CWB)

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