Canadian Western Bank (TSE:CWB) Reaches New 52-Week High at $25.83

Canadian Western Bank (TSE:CWB)’s share price reached a new 52-week high during trading on Thursday . The stock traded as high as C$25.83 and last traded at C$26.98, with a volume of 113110 shares traded. The stock had previously closed at C$27.00.

Analysts Set New Price Targets

A number of analysts have weighed in on CWB shares. Royal Bank of Canada reduced their price target on Canadian Western Bank from C$34.00 to C$32.00 and set an “outperform” rating for the company in a research report on Monday, March 4th. Desjardins dropped their price target on shares of Canadian Western Bank from C$37.00 to C$35.00 and set a “buy” rating on the stock in a research report on Monday, March 4th. Veritas Investment Research restated a “buy” rating on shares of Canadian Western Bank in a research note on Monday, March 4th. CIBC raised their target price on shares of Canadian Western Bank from C$32.00 to C$34.00 and gave the company a “neutral” rating in a research note on Wednesday, February 14th. Finally, Scotiabank upgraded shares of Canadian Western Bank from a “sector perform” rating to an “outperform” rating and set a C$32.00 target price on the stock in a report on Tuesday, February 20th. Two investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to MarketBeat.com, Canadian Western Bank presently has a consensus rating of “Moderate Buy” and an average target price of C$33.73.

Canadian Western Bank Price Performance

The firm has a market cap of C$2.60 billion, a P/E ratio of 8.18, a PEG ratio of 2.95 and a beta of 1.54. The stock’s 50 day moving average is C$27.73 and its two-hundred day moving average is C$28.79.

Canadian Western Bank (TSE:CWB) last posted its earnings results on Friday, March 1st. The company reported C$0.93 EPS for the quarter, topping the consensus estimate of C$0.91 by C$0.02. Canadian Western Bank had a return on equity of 8.58% and a net margin of 31.97%. The business had revenue of C$289.99 million during the quarter, compared to the consensus estimate of C$301.10 million. As a group, research analysts forecast that Canadian Western Bank will post 3.5834464 EPS for the current fiscal year.

Canadian Western Bank Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, March 21st. Investors of record on Thursday, March 7th were issued a dividend of $0.34 per share. This represents a $1.36 annualized dividend and a yield of 5.04%. The ex-dividend date of this dividend was Wednesday, March 6th. Canadian Western Bank’s dividend payout ratio is currently 40.61%.

Insider Activity

In related news, Senior Officer Mark Stafford sold 1,708 shares of the firm’s stock in a transaction on Tuesday, April 9th. The stock was sold at an average price of C$27.94, for a total transaction of C$47,728.69. In other news, Senior Officer Supriya Anna Maria James sold 4,600 shares of the company’s stock in a transaction that occurred 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. Also, Senior Officer Mark Stafford sold 1,708 shares of the stock in a transaction that occurred on Tuesday, April 9th. The shares were sold at an average price of C$27.94, for a total transaction of C$47,728.69. 0.32% of the stock is currently owned by corporate 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.