Canadian Western Bank (TSE:CWB) Hits New 12-Month High – What’s Next?

Shares of Canadian Western Bank (TSE:CWB) reached a new 52-week high on Friday . The stock traded as high as C$28.00 and last traded at C$57.80, with a volume of 882801 shares. The stock had previously closed at C$58.88.

Analyst Ratings Changes

Several brokerages recently weighed in on CWB. Desjardins lowered Canadian Western Bank from a “moderate buy” rating to a “hold” rating in a report on Friday, December 20th. Royal Bank of Canada boosted their price target on shares of Canadian Western Bank from C$52.00 to C$60.00 and gave the company a “sector perform” rating in a research report on Thursday, December 19th. Scotiabank raised their price objective on shares of Canadian Western Bank from C$52.00 to C$62.00 in a report on Monday, November 25th. Raymond James boosted their target price on shares of Canadian Western Bank from C$54.00 to C$59.00 and gave the company a “market perform” rating in a report on Thursday, December 19th. Finally, CIBC raised their price target on Canadian Western Bank from C$60.30 to C$63.50 in a report on Tuesday, November 26th. Seven equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Canadian Western Bank presently has a consensus rating of “Hold” and a consensus price target of C$54.83.

Canadian Western Bank Stock Performance

The business has a 50 day simple moving average of C$58.73 and a two-hundred day simple moving average of C$53.46. The firm has a market capitalization of C$5.59 billion, a P/E ratio of 19.40, a price-to-earnings-growth ratio of 2.95 and a beta of 1.39.

Canadian Western Bank Company Profile

Canadian Western Bank is a diversified financial service organization providing banking, trust, and wealth management services. The group operates through a number of subsidiaries providing different areas of financial services. Canadian Western Bank offers business banking services including general commercial banking, equipment financing and leasing, real estate financing, and other services for small- and medium-sized companies, as well as personal banking services including chequing and savings accounts, loans, mortgages, and investment products.