Canadian Western Bank (TSE:CWB) Hits New 1-Year High at $46.37

Canadian Western Bank (TSE:CWB)’s share price hit a new 52-week high on Monday . The company traded as high as C$46.37 and last traded at C$46.27, with a volume of 34116 shares traded. The stock had previously closed at C$45.98.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on CWB. Royal Bank of Canada cut shares of Canadian Western Bank from an “outperform” rating to a “sector perform” rating and decreased their price objective for the company from C$32.00 to C$28.00 in a research note on Monday, June 3rd. CIBC cut shares of Canadian Western Bank from a “neutral” rating to a “tender” rating and increased their target price for the stock from C$30.00 to C$55.80 in a report on Tuesday, June 18th. Desjardins raised their price target on shares of Canadian Western Bank from C$32.00 to C$52.00 and gave the company a “buy” rating in a research note on Tuesday, June 18th. BMO Capital Markets cut shares of Canadian Western Bank from an “outperform” rating to a “market perform” rating and upped their price objective for the stock from C$35.00 to C$52.00 in a research report on Wednesday, June 12th. Finally, Jefferies Financial Group raised their target price on shares of Canadian Western Bank from C$28.00 to C$52.00 and gave the company a “hold” rating in a research report on Thursday, June 13th. Four research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of C$40.22.

Canadian Western Bank Price Performance

The firm has a market capitalization of C$4.49 billion, a price-to-earnings ratio of 14.10, a P/E/G ratio of 2.95 and a beta of 1.54. The stock has a fifty day moving average of C$37.24 and a two-hundred day moving average of C$31.41.

Canadian Western Bank (TSE:CWB) last issued its quarterly earnings results on Friday, May 31st. The company reported C$0.81 earnings per share for the quarter, missing the consensus estimate of C$0.86 by C($0.05). The company had revenue of C$285.92 million during the quarter, compared to analyst estimates of C$290.33 million. Canadian Western Bank had a net margin of 31.97% and a return on equity of 8.58%. On average, research analysts forecast that Canadian Western Bank will post 3.5933775 EPS for the current year.

Canadian Western Bank Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, June 20th. Shareholders of record on Thursday, June 6th were issued a dividend of $0.35 per share. This is a positive change from Canadian Western Bank’s previous quarterly dividend of $0.34. The ex-dividend date of this dividend was Thursday, June 6th. This represents a $1.40 annualized dividend and a yield of 3.01%. Canadian Western Bank’s dividend payout ratio (DPR) is presently 40.61%.

Insider Activity

In other news, Senior Officer Trent Albert Erickson bought 4,312 shares of the stock in a transaction that occurred on Friday, June 14th. The stock was acquired at an average price of C$41.44 per share, with a total value of C$178,680.66. In other Canadian Western Bank news, Senior Officer Jenny Siman sold 1,000 shares of the business’s stock in a transaction that occurred on Monday, July 22nd. The stock was sold at an average price of C$46.05, for a total value of C$46,050.00. Also, Senior Officer Trent Albert Erickson purchased 4,312 shares of the business’s stock in a transaction on Friday, June 14th. The shares were acquired at an average price of C$41.44 per share, for a total transaction of C$178,680.66. Insiders own 0.32% of the company’s stock.

Canadian Western Bank Company Profile

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.