Canadian Western Bank (TSE:CWB) Reaches New 12-Month High at $46.37

Canadian Western Bank (TSE:CWB) hit a new 52-week high on Monday . The stock traded as high as C$46.37 and last traded at C$46.27, with a volume of 34116 shares traded. The stock had previously closed at C$45.98.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on CWB shares. CIBC cut Canadian Western Bank from a “neutral” rating to a “tender” rating and lifted their price target for the company from C$30.00 to C$55.80 in a report on Tuesday, June 18th. National Bankshares lowered their price target on Canadian Western Bank from C$37.00 to C$30.00 and set an “outperform” rating on the stock in a research report on Monday, June 3rd. Desjardins raised their target price on Canadian Western Bank from C$32.00 to C$52.00 and gave the company a “buy” rating in a research note on Tuesday, June 18th. BMO Capital Markets lowered Canadian Western Bank from an “outperform” rating to a “market perform” rating and lifted their target price for the stock from C$35.00 to C$52.00 in a report on Wednesday, June 12th. Finally, Royal Bank of Canada lowered shares of Canadian Western Bank from an “outperform” rating to a “sector perform” rating and cut their target price for the company from C$32.00 to C$28.00 in a research note on Monday, June 3rd. Four investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of C$40.22.

Canadian Western Bank Trading Down 0.3 %

The firm has a market capitalization of C$4.49 billion, a PE ratio of 14.10, a PEG ratio of 2.95 and a beta of 1.54. The firm’s fifty day moving average price is C$37.24 and its 200 day moving average price is C$31.41.

Canadian Western Bank (TSE:CWB) last released its quarterly earnings data on Friday, May 31st. The company reported C$0.81 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of C$0.86 by C($0.05). Canadian Western Bank had a net margin of 31.97% and a return on equity of 8.58%. The firm had revenue of C$285.92 million for the quarter, compared to analyst estimates of C$290.33 million. As a group, research analysts expect that Canadian Western Bank will post 3.5933775 EPS for the current year.

Canadian Western Bank Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, June 20th. Investors of record on Thursday, June 6th were given a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a yield of 3.01%. The ex-dividend date of this dividend was 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 (DPR) is presently 40.61%.

Insider Buying and Selling at Canadian Western Bank

In related news, Senior Officer Jenny Siman sold 1,000 shares of the business’s stock in a transaction that occurred 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. In related news, Senior Officer Jenny Siman sold 1,000 shares of the firm’s stock in a transaction on Monday, July 22nd. The shares were sold at an average price of C$46.05, for a total value of C$46,050.00. Also, Senior Officer Trent Albert Erickson bought 4,312 shares of the company’s stock in a transaction that occurred on Friday, June 14th. The stock was purchased at an average price of C$41.44 per share, for a total transaction of C$178,680.66. Corporate insiders own 0.32% 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.