Canadian Western Bank (TSE:CWB) Sets New 52-Week High at $43.95

Canadian Western Bank (TSE:CWB) shares reached a new 52-week high during mid-day trading on Wednesday . The company traded as high as C$43.95 and last traded at C$43.98, with a volume of 155347 shares. The stock had previously closed at C$43.35.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on CWB. Scotiabank lifted their price target on shares of Canadian Western Bank from C$30.00 to C$52.00 and gave the company an “outperform” rating in a research report on Tuesday, June 18th. BMO Capital Markets lowered Canadian Western Bank from an “outperform” rating to a “market perform” rating and raised their price objective for the company from C$35.00 to C$52.00 in a research report on Wednesday, June 12th. Jefferies Financial Group upped their target price on Canadian Western Bank from C$28.00 to C$52.00 and gave the stock a “hold” rating in a research report on Thursday, June 13th. CIBC downgraded Canadian Western Bank from a “neutral” rating to a “tender” rating and raised their target price for the company from C$30.00 to C$55.80 in a report on Tuesday, June 18th. Finally, Royal Bank of Canada downgraded shares of Canadian Western Bank from an “outperform” rating to a “sector perform” rating and lowered their price objective for the company from C$32.00 to C$28.00 in a research report on Monday, June 3rd. Four 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 has a consensus rating of “Moderate Buy” and a consensus price target of C$40.22.

Canadian Western Bank Stock Performance

The firm has a market cap of C$4.24 billion, a price-to-earnings ratio of 13.42, a price-to-earnings-growth ratio of 2.95 and a beta of 1.54. The business’s 50 day moving average price is C$32.09 and its 200-day moving average price is C$29.98.

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

Canadian Western Bank Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, June 20th. Shareholders of record on Thursday, June 6th were paid a dividend of $0.35 per share. This is a positive change from Canadian Western Bank’s previous quarterly dividend of $0.34. The ex-dividend date of this dividend was Thursday, June 6th. This represents a $1.40 annualized dividend and a yield of 3.18%. Canadian Western Bank’s payout ratio is presently 40.61%.

Insiders Place Their Bets

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