Canadian Western Bank (TSE:CWB) Hits New 52-Week High at $43.95

Canadian Western Bank (TSE:CWB)’s share price hit a new 52-week high during trading on Wednesday . The company traded as high as C$43.95 and last traded at C$43.98, with a volume of 155347 shares traded. The stock had previously closed at C$43.35.

Analyst Ratings Changes

A number of equities analysts have commented on CWB shares. National Bankshares decreased their price target on Canadian Western Bank from C$37.00 to C$30.00 and set an “outperform” rating on the stock in a research note on Monday, June 3rd. Jefferies Financial Group lifted their price target on Canadian Western Bank from C$28.00 to C$52.00 and gave the stock a “hold” rating in a research note on Thursday, June 13th. Desjardins lifted their price objective on Canadian Western Bank from C$32.00 to C$52.00 and gave the stock a “buy” rating in a research report on Tuesday, June 18th. BMO Capital Markets lowered Canadian Western Bank from an “outperform” rating to a “market perform” rating and lifted their price objective for the stock from C$35.00 to C$52.00 in a research report on Wednesday, June 12th. Finally, Royal Bank of Canada lowered Canadian Western Bank from an “outperform” rating to a “sector perform” rating and cut their price objective for the stock from C$32.00 to C$28.00 in a research report on Monday, June 3rd. Four investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of C$40.22.

Canadian Western Bank Stock Up 1.2 %

The company has a market capitalization of C$4.24 billion, a P/E ratio of 13.14, a price-to-earnings-growth ratio of 2.95 and a beta of 1.54. The company has a 50-day moving average of C$31.39 and a two-hundred day moving average of C$29.78.

Canadian Western Bank (TSE:CWB) last released its earnings results on Friday, May 31st. The company reported C$0.81 EPS for the quarter, missing the consensus estimate of C$0.86 by C($0.05). Canadian Western Bank had a return on equity of 8.58% and a net margin of 31.97%. The company had revenue of C$285.92 million during the quarter, compared to the consensus estimate of C$290.33 million. As a group, equities analysts expect that Canadian Western Bank will post 3.5933775 EPS for the current fiscal year.

Canadian Western Bank Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, June 20th. Shareholders of record on Thursday, June 6th were issued a $0.35 dividend. This represents a $1.40 annualized dividend and a yield of 3.19%. This is an increase from Canadian Western Bank’s previous quarterly dividend of $0.34. The ex-dividend date of this dividend was Thursday, June 6th. Canadian Western Bank’s payout ratio is 40.61%.

Insiders Place Their Bets

In other Canadian Western Bank news, Senior Officer Trent Albert Erickson purchased 4,312 shares of the firm’s stock in a transaction dated Friday, June 14th. The stock was purchased at an average price of C$41.44 per share, for a total transaction of C$178,680.66. In other Canadian Western Bank news, Senior Officer Trent Albert Erickson purchased 4,312 shares of the firm’s stock in a transaction dated Friday, June 14th. The stock was purchased at an average price of C$41.44 per share, for a total transaction of C$178,680.66. Also, Senior Officer Supriya Anna Maria James sold 4,600 shares of the business’s stock in a transaction on Tuesday, April 23rd. The stock was sold at an average price of C$27.00, for a total value of C$124,203.22. Corporate insiders own 0.32% 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.