Canadian Western Bank (TSE:CWB) Share Price Passes Above 200-Day Moving Average of $0.00

Canadian Western Bank (TSE:CWB) crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of C$0.00 and traded as high as C$33.70. Canadian Western Bank shares last traded at C$33.58, with a volume of 199,765 shares.

CWB has been the topic of a number of research reports. TD Securities boosted their target price on shares of Canadian Western Bank from C$38.00 to C$41.00 and gave the stock a “buy” rating in a research note on Monday, May 31st. National Bankshares boosted their target price on shares of Canadian Western Bank from C$39.00 to C$40.00 in a research note on Tuesday, June 15th. National Bank Financial boosted their price objective on shares of Canadian Western Bank to C$40.00 and gave the stock a “sector perform” rating in a research note on Tuesday, June 15th. BMO Capital Markets boosted their price objective on shares of Canadian Western Bank from C$37.00 to C$41.00 and gave the stock a “market perform” rating in a research note on Monday, May 31st. Finally, Royal Bank of Canada boosted their price objective on shares of Canadian Western Bank from C$36.00 to C$38.00 and gave the stock a “sector perform” rating in a research note on Monday, May 31st. Five equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. The company has an average rating of “Hold” and an average target price of C$39.88.

The company’s fifty day moving average price is C$35.22. The company has a market cap of C$2.96 billion and a PE ratio of 10.67.

Canadian Western Bank (TSE:CWB) last posted its earnings results on Friday, May 28th. The company reported C$0.84 earnings per share for the quarter, topping the Zacks’ consensus estimate of C$0.75 by C$0.09. The business had revenue of C$247.11 million during the quarter, compared to analyst estimates of C$244.84 million. On average, analysts predict that Canadian Western Bank will post 3.63 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Thursday, June 24th. Shareholders of record on Thursday, June 10th were given a $0.29 dividend. This represents a $1.16 dividend on an annualized basis and a yield of 3.42%. The ex-dividend date of this dividend was Wednesday, June 9th. Canadian Western Bank’s payout ratio is 36.50%.

Canadian Western Bank Company Profile (TSE:CWB)

Canadian Western Bank provides personal and business banking products and services primarily in Western Canada. The company offers current, savings, cash management, US dollar, and chequing accounts, as well as organization, strata solution/condo, general trust, and trust fund investment accounts. It also offers commercial lending and real estate, and equipment financing and leasing products; loans and mortgages; secured and unsecured lines of credit; registered retirement savings plan; consolidation, vehicle, and recreation vehicle loans; and credit cards.

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