CIBC Raises Canadian Western Bank (TSE:CWB) Price Target to C$63.50

Canadian Western Bank (TSE:CWB) had its price target increased by CIBC from C$60.30 to C$63.50 in a research report report published on Tuesday morning,BayStreet.CA reports.

Other research analysts have also issued reports about the stock. Scotiabank raised their price objective on shares of Canadian Western Bank from C$52.00 to C$62.00 in a report on Monday, November 25th. Cormark lifted their price target on Canadian Western Bank from C$46.00 to C$47.00 in a research note on Tuesday, September 3rd. Desjardins upped their price objective on Canadian Western Bank from C$53.00 to C$57.00 and gave the company a “buy” rating in a research note on Tuesday, September 3rd. Raymond James lowered Canadian Western Bank from a “moderate buy” rating to a “hold” rating and lifted their target price for the stock from C$52.00 to C$54.00 in a research report on Tuesday, September 3rd. Finally, BMO Capital Markets raised their price objective on Canadian Western Bank from C$52.00 to C$58.00 in a research note on Monday, November 18th. Six research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of C$51.45.

Canadian Western Bank Stock Performance

Shares of CWB opened at C$60.21 on Tuesday. Canadian Western Bank has a one year low of C$24.66 and a one year high of C$60.64. The stock has a 50-day moving average price of C$56.45 and a 200 day moving average price of C$46.68. The company has a market capitalization of C$5.82 billion, a P/E ratio of 20.22, a P/E/G ratio of 2.95 and a beta of 1.39.

Canadian Western Bank (TSE:CWB) last released its earnings results on Friday, August 30th. The company reported C$0.60 EPS for the quarter, missing the consensus estimate of C$0.87 by C($0.27). The business had revenue of C$298.47 million for the quarter, compared to analysts’ expectations of C$296.88 million. Canadian Western Bank had a net margin of 29.23% and a return on equity of 7.51%. As a group, equities research analysts forecast that Canadian Western Bank will post 3.656168 earnings per share for the current fiscal year.

Insider Activity at Canadian Western Bank

In related news, Senior Officer Trent Albert Erickson sold 3,900 shares of the firm’s stock in a transaction that occurred on Wednesday, September 4th. The stock was sold at an average price of C$51.42, for a total value of C$200,538.00. 0.46% of the stock is currently owned by insiders.

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.