Canadian Western Bank (TSE:CWB) Receives C$48.03 Average PT from Brokerages

Canadian Western Bank (TSE:CWB) has earned an average rating of “Moderate Buy” from the twelve analysts that are covering the company, MarketBeat Ratings reports. Six equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. The average 1 year price objective among brokerages that have covered the stock in the last year is C$48.03.

Several equities research analysts have recently issued reports on the stock. Jefferies Financial Group raised 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 report on Tuesday, September 3rd. BMO Capital Markets cut Canadian Western Bank from an “outperform” rating to a “market perform” rating and upped their target price for the company from C$35.00 to C$52.00 in a research note on Wednesday, June 12th. Scotiabank raised their price target on Canadian Western Bank from C$30.00 to C$52.00 and gave the stock an “outperform” rating in a research note on Tuesday, June 18th. Cibc World Mkts raised shares of Canadian Western Bank to a “hold” rating in a research report on Tuesday, September 3rd. Finally, Desjardins lifted their price objective on shares of Canadian Western Bank from C$53.00 to C$57.00 and gave the company a “buy” rating in a report on Tuesday, September 3rd.

Canadian Western Bank Stock Down 1.6 %

Canadian Western Bank stock opened at C$53.41 on Friday. Canadian Western Bank has a 52-week low of C$24.66 and a 52-week high of C$54.50. The company has a market cap of C$5.16 billion, a price-to-earnings ratio of 18.55, a PEG ratio of 2.95 and a beta of 1.39. The firm’s fifty day moving average is C$49.72 and its 200 day moving average is C$37.97.

Canadian Western Bank (TSE:CWB) last announced its earnings results on Friday, August 30th. The company reported C$0.60 earnings per share (EPS) for the quarter, missing the consensus estimate of C$0.87 by C($0.27). The business had revenue of C$298.47 million for the quarter, compared to analysts’ expectations of C$296.88 million. Canadian Western Bank had a net margin of 29.23% and a return on equity of 7.51%. On average, equities research analysts anticipate that Canadian Western Bank will post 3.5990566 earnings per share for the current fiscal year.

Canadian Western Bank Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 26th. Stockholders of record on Thursday, September 12th were issued a dividend of $0.35 per share. The ex-dividend date of this dividend was Thursday, September 12th. This represents a $1.40 annualized dividend and a dividend yield of 2.62%. Canadian Western Bank’s dividend payout ratio is presently 48.61%.

Insider Buying and Selling

In other news, Senior Officer Jenny Siman sold 1,000 shares of the business’s stock in a transaction dated Monday, July 22nd. The stock was sold at an average price of C$46.05, for a total transaction of C$46,050.00. In related news, Senior Officer Trent Albert Erickson sold 3,900 shares of the company’s stock in a transaction 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. Also, 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 value of C$46,050.00. 0.46% of the stock is owned by company insiders.

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.