Canadian Western Bank (TSE:CWB) – Raymond James boosted their FY2022 EPS estimates for shares of Canadian Western Bank in a report released on Monday, September 13th. Raymond James analyst S. Boland now expects that the company will post earnings of $3.97 per share for the year, up from their prior forecast of $3.57. Raymond James has a “Outperform” rating and a $41.00 price objective on the stock.
Several other research firms also recently issued reports on CWB. CSFB upped their price objective on Canadian Western Bank from C$41.00 to C$45.00 in a research note on Wednesday, September 1st. Scotiabank upped their price objective on Canadian Western Bank from C$42.00 to C$43.00 and gave the company an “outperform” rating in a research note on Monday, August 30th. Royal Bank of Canada upped their target price on Canadian Western Bank from C$38.00 to C$39.00 and gave the company a “sector perform” rating in a report on Monday, August 30th. BMO Capital Markets upped their target price on Canadian Western Bank from C$37.00 to C$41.00 and gave the company a “market perform” rating in a report on Monday, May 31st. Finally, Barclays upgraded Canadian Western Bank from a “neutral” rating to an “overweight” rating and set a C$37.00 target price on the stock in a report on Friday, May 28th. Four investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus price target of C$41.17.
In related news, Senior Officer James Jeffrey Bowling sold 2,000 shares of the stock in a transaction on Tuesday, August 31st. The stock was sold at an average price of C$37.01, for a total value of C$74,024.00. Following the transaction, the insider now directly owns 2,559 shares in the company, valued at approximately C$94,713.71. Also, Director Irfhan Abdulaziz Rawji bought 10,000 shares of the business’s stock in a transaction that occurred on Friday, July 30th. The stock was purchased at an average price of C$34.16 per share, for a total transaction of C$341,563.00. Following the completion of the acquisition, the director now owns 19,175 shares in the company, valued at C$654,947.05.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 23rd. Shareholders of record on Thursday, September 9th will be issued a dividend of $0.29 per share. This represents a $1.16 dividend on an annualized basis and a dividend yield of 3.15%. The ex-dividend date is Wednesday, September 8th. Canadian Western Bank’s payout ratio is 33.62%.
About Canadian Western Bank
Canadian Western Bank provides personal and business banking products and services primarily in Western Canada. The company offers current, savings, cash management, US dollar, and chequing accounts, as well as organization, strata solution/condo, general trust, and trust fund investment accounts. It also offers commercial lending and real estate, and equipment financing and leasing products; loans and mortgages; secured and unsecured lines of credit; registered retirement savings plan; consolidation, vehicle, and recreation vehicle loans; and credit cards.
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