Canadian Western Bank (TSE:CWB) PT Raised to C$47.00 at Cormark

Canadian Western Bank (TSE:CWB) had its price target lifted by Cormark from C$46.00 to C$47.00 in a report published on Tuesday, BayStreet.CA reports. Cormark also issued estimates for Canadian Western Bank’s FY2024 earnings at $3.20 EPS and FY2025 earnings at $3.60 EPS.

Several other research firms have also commented on CWB. Royal Bank of Canada raised their price target on Canadian Western Bank from C$51.00 to C$52.00 and gave the stock a sector perform rating in a research report on Tuesday. National Bankshares lowered their target price on Canadian Western Bank from C$37.00 to C$30.00 and set an outperform rating for the company in a report on Monday, June 3rd. CIBC boosted their price target on shares of Canadian Western Bank from C$55.80 to C$60.30 and gave the stock a neutral rating in a research note on Tuesday. BMO Capital Markets lowered shares of Canadian Western Bank from an outperform rating to a market perform rating and raised their price objective for the company from C$35.00 to C$52.00 in a research note on Wednesday, June 12th. Finally, Jefferies Financial Group upped their target price on shares of Canadian Western Bank from C$52.00 to C$57.00 and gave the stock a hold rating in a research note on Tuesday. Six research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of Moderate Buy and an average target price of C$48.03.

Canadian Western Bank Stock Down 0.6 %

Shares of CWB opened at C$51.63 on Tuesday. The company has a market capitalization of C$4.99 billion, a price-to-earnings ratio of 17.62, a PEG ratio of 2.95 and a beta of 1.39. Canadian Western Bank has a 52 week low of C$24.66 and a 52 week high of C$52.80. The stock’s 50-day moving average price is C$47.46 and its 200-day moving average price is C$35.70.

Canadian Western Bank Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 26th. Investors of record on Thursday, September 12th will be paid a $0.35 dividend. The ex-dividend date of this dividend is Thursday, September 12th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 2.71%. Canadian Western Bank’s dividend payout ratio (DPR) is presently 47.78%.

Insider Transactions at Canadian Western Bank

In related news, Senior Officer Trent Albert Erickson sold 3,900 shares of the company’s stock in a transaction that occurred on Wednesday, September 4th. The stock was sold at an average price of C$51.42, for a total value of C$200,538.00. In other Canadian Western Bank news, Senior Officer Jenny Siman sold 1,000 shares of the firm’s stock in a transaction on Monday, July 22nd. The stock was sold at an average price of C$46.05, for a total transaction of C$46,050.00. Also, Senior Officer Trent Albert Erickson sold 3,900 shares of the company’s stock in a transaction on Wednesday, September 4th. The shares were sold at an average price of C$51.42, for a total value of C$200,538.00. Corporate insiders own 0.46% 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.