Canadian Western Bank (TSE:CWB) Price Target Lowered to C$34.00 at Canaccord Genuity

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Canadian Western Bank (TSE:CWB) had its target price reduced by stock analysts at Canaccord Genuity from C$36.00 to C$34.00 in a report issued on Friday, BayStreet.CA reports. Canaccord Genuity’s target price would indicate a potential upside of 3.82% from the company’s current price.

A number of other analysts also recently issued reports on the company. Eight Capital lifted their price target on Canadian Western Bank from C$34.00 to C$36.00 in a research report on Wednesday, September 4th. Scotiabank decreased their price objective on shares of Canadian Western Bank from C$36.00 to C$35.00 in a research report on Friday. CSFB upped their price objective on shares of Canadian Western Bank from C$32.00 to C$33.00 in a research report on Friday, September 6th. CIBC raised their target price on shares of Canadian Western Bank from C$33.00 to C$38.00 in a research note on Thursday, November 21st. Finally, TD Securities lifted their target price on shares of Canadian Western Bank from C$33.00 to C$34.00 and gave the company a “hold” rating in a research report on Friday, August 30th. Six equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Canadian Western Bank has an average rating of “Hold” and an average target price of C$34.55.

Canadian Western Bank stock traded down C$0.29 during midday trading on Friday, hitting C$32.75. 267,841 shares of the company’s stock were exchanged, compared to its average volume of 224,829. The company has a market cap of $3.09 billion and a P/E ratio of 10.95. The stock has a 50-day moving average price of C$34.50 and a two-hundred day moving average price of C$31.47. Canadian Western Bank has a 52-week low of C$24.33 and a 52-week high of C$36.61.

In related news, Senior Officer Darrell Robert Jones sold 1,849 shares of the firm’s stock in a transaction dated Monday, September 9th. The stock was sold at an average price of C$32.99, for a total transaction of C$60,996.66. Following the transaction, the insider now directly owns 16,130 shares of the company’s stock, valued at approximately C$532,112.57.

Canadian Western Bank Company Profile

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.

Further Reading: Cost of Equity For A Business, Investors

Analyst Recommendations for Canadian Western Bank (TSE:CWB)

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