Canadian Western Bank (TSE:CWB) Stock Passes Above 200-Day Moving Average – Should You Sell?

Canadian Western Bank (TSE:CWB)’s stock price passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of C$53.08 and traded as high as C$59.43. Canadian Western Bank shares last traded at C$59.22, with a volume of 346,222 shares trading hands.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the company. Raymond James upped their price target on Canadian Western Bank from C$54.00 to C$59.00 and gave the company a “market perform” rating in a research note on Thursday, December 19th. Desjardins cut shares of Canadian Western Bank from a “moderate buy” rating to a “hold” rating in a research report on Friday, December 20th. Scotiabank lifted their price target on shares of Canadian Western Bank from C$52.00 to C$62.00 in a research report on Monday, November 25th. CIBC upped their price objective on shares of Canadian Western Bank from C$60.30 to C$63.50 in a report on Tuesday, November 26th. Finally, BMO Capital Markets lifted their target price on shares of Canadian Western Bank from C$52.00 to C$58.00 in a report on Monday, November 18th. Seven research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, Canadian Western Bank has a consensus rating of “Hold” and an average price target of C$54.83.

Canadian Western Bank Stock Performance

The company’s 50-day simple moving average is C$58.65 and its 200 day simple moving average is C$53.20. The company has a market cap of C$5.76 billion, a PE ratio of 20.01, a PEG ratio of 2.95 and a beta of 1.39.

Canadian Western Bank Company Profile

Canadian Western Bank is a diversified financial service organization providing banking, trust, and wealth management services. The group operates through a number of subsidiaries providing different areas of financial services. Canadian Western Bank offers business banking services including general commercial banking, equipment financing and leasing, real estate financing, and other services for small- and medium-sized companies, as well as personal banking services including chequing and savings accounts, loans, mortgages, and investment products.