Canadian Western Bank (TSE:CWB) PT Lowered to C$30.00 at Scotiabank

Canadian Western Bank (TSE:CWB) had its price objective cut by Scotiabank from C$32.00 to C$30.00 in a research note issued to investors on Monday, BayStreet.CA reports. They currently have an outperform rating on the stock.

A number of other equities analysts also recently commented on the stock. National Bankshares reduced their target price on shares of Canadian Western Bank from C$37.00 to C$30.00 and set an outperform rating for the company in a report on Monday. CIBC boosted their target price on shares of Canadian Western Bank from C$32.00 to C$34.00 and gave the stock a neutral rating in a report on Wednesday, February 14th. Desjardins cut their price objective on shares of Canadian Western Bank from C$35.00 to C$33.00 and set a buy rating on the stock in a report on Monday, May 6th. Royal Bank of Canada downgraded shares of Canadian Western Bank from an outperform rating to a sector perform rating and cut their price objective for the company from C$32.00 to C$28.00 in a report on Monday. Finally, Veritas Investment Research restated a buy rating on shares of Canadian Western Bank in a report on Monday, March 4th. Four equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat, Canadian Western Bank currently has an average rating of Moderate Buy and an average target price of C$31.58.

Canadian Western Bank Stock Performance

Shares of Canadian Western Bank stock opened at C$25.47 on Monday. The company has a market capitalization of C$2.46 billion, a PE ratio of 7.72, a P/E/G ratio of 2.95 and a beta of 1.54. The company has a 50-day simple moving average of C$26.96 and a two-hundred day simple moving average of C$28.57. Canadian Western Bank has a one year low of C$23.21 and a one year high of C$31.64.

Canadian Western Bank Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 20th. Shareholders of record on Thursday, June 6th will be given a $0.35 dividend. This represents a $1.40 annualized dividend and a yield of 5.50%. The ex-dividend date is Thursday, June 6th. This is a positive change from Canadian Western Bank’s previous quarterly dividend of $0.34. Canadian Western Bank’s dividend payout ratio is currently 40.61%.

Insiders Place Their Bets

In other Canadian Western Bank news, Senior Officer Supriya Anna Maria James sold 4,600 shares of the company’s stock in a transaction on Tuesday, April 23rd. The shares were sold at an average price of C$27.00, for a total transaction of C$124,203.22. In other news, Senior Officer Mark Stafford sold 1,708 shares of the stock in a transaction dated Tuesday, April 9th. The shares were sold at an average price of C$27.94, for a total value of C$47,728.69. Also, Senior Officer Supriya Anna Maria James sold 4,600 shares of the stock in a transaction dated Tuesday, April 23rd. The shares were sold at an average price of C$27.00, for a total transaction of C$124,203.22. 0.32% of the stock is currently 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.