Canadian Western Bank (TSE:CWB) Cut to “Market Perform” at BMO Capital Markets

BMO Capital Markets lowered shares of Canadian Western Bank (TSE:CWB) from an outperform rating to a market perform rating in a report issued on Wednesday morning, Marketbeat reports. They currently have C$52.00 target price on the stock, up from their previous target price of C$35.00.

Other analysts have also issued research reports about the company. Jefferies Financial Group cut their target price on Canadian Western Bank from C$29.00 to C$28.00 and set a hold rating on the stock in a research report on Monday, June 3rd. Veritas Investment Research reiterated a buy rating on shares of Canadian Western Bank in a research note on Monday, March 4th. CIBC reduced their price target on shares of Canadian Western Bank from C$34.00 to C$30.00 and set a neutral rating for the company in a research report on Monday, June 3rd. Royal Bank of Canada cut shares of Canadian Western Bank from an outperform rating to a sector perform rating and reduced their price target for the company from C$32.00 to C$28.00 in a research report on Monday, June 3rd. Finally, 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, June 3rd. Five research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Canadian Western Bank presently has a consensus rating of Moderate Buy and an average price target of C$35.00.

Canadian Western Bank Stock Performance

CWB stock opened at C$41.38 on Wednesday. The firm has a market cap of C$3.99 billion, a PE ratio of 12.54, a PEG ratio of 2.95 and a beta of 1.54. The firm’s 50 day moving average price is C$27.57 and its 200-day moving average price is C$28.74. Canadian Western Bank has a one year low of C$23.21 and a one year high of C$44.00.

Canadian Western Bank Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, June 20th. Shareholders of record on Thursday, June 6th will be given a dividend of $0.35 per share. This is a positive change from Canadian Western Bank’s previous quarterly dividend of $0.34. This represents a $1.40 annualized dividend and a yield of 3.38%. The ex-dividend date is Thursday, June 6th. Canadian Western Bank’s dividend payout ratio is presently 40.61%.

Insiders Place Their Bets

In other news, Senior Officer Supriya Anna Maria James sold 4,600 shares of the 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 value of C$124,203.22. In other Canadian Western Bank news, 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. Also, Senior Officer Supriya Anna Maria James sold 4,600 shares of the stock in a transaction that occurred on Tuesday, April 23rd. The stock was 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.