Canadian Western Bank (TSE:CWB) Given Average Recommendation of “Moderate Buy” by Brokerages

Canadian Western Bank (TSE:CWB) has received an average recommendation of “Moderate Buy” from the thirteen brokerages that are currently covering the stock, Marketbeat reports. Four research analysts have rated the stock with a hold recommendation and nine have issued a buy recommendation on the company. The average 1-year price objective among analysts that have issued ratings on the stock in the last year is C$40.22.

A number of brokerages have issued reports on CWB. BMO Capital Markets downgraded shares of Canadian Western Bank from an “outperform” rating to a “market perform” rating and boosted their price objective for the company from C$35.00 to C$52.00 in a research report on Wednesday, June 12th. Royal Bank of Canada downgraded shares of Canadian Western Bank from an “outperform” rating to a “sector perform” rating and reduced their price objective for the company from C$32.00 to C$28.00 in a research report on Monday, June 3rd. Desjardins boosted their target price on shares of Canadian Western Bank from C$32.00 to C$52.00 and gave the company a “buy” rating in a report on Tuesday. Scotiabank boosted their target price on shares of Canadian Western Bank from C$30.00 to C$52.00 and gave the company an “outperform” rating in a report on Tuesday. Finally, CIBC cut shares of Canadian Western Bank from a “neutral” rating to a “tender” rating and boosted their target price for the company from C$30.00 to C$55.80 in a report on Tuesday.

Canadian Western Bank Trading Up 1.1 %

Shares of Canadian Western Bank stock opened at C$42.29 on Friday. The company’s fifty day simple moving average is C$27.85 and its two-hundred day simple moving average is C$28.83. The company has a market cap of C$4.08 billion, a P/E ratio of 12.82, a PEG ratio of 2.95 and a beta of 1.54. Canadian Western Bank has a 12-month low of C$23.21 and a 12-month high of C$44.00.

Canadian Western Bank Increases Dividend

The firm 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 $0.35 dividend. This is a positive change from Canadian Western Bank’s previous quarterly dividend of $0.34. The ex-dividend date of this dividend is Thursday, June 6th. This represents a $1.40 dividend on an annualized basis and a yield of 3.31%. Canadian Western Bank’s payout ratio is 40.61%.

Insiders Place Their Bets

In other Canadian Western Bank news, Senior Officer Supriya Anna Maria James sold 4,600 shares of the business’s stock in a transaction dated Tuesday, April 23rd. The stock was sold at an average price of C$27.00, for a total value of C$124,203.22. In other news, Senior Officer Mark Stafford sold 1,708 shares of the company’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. Also, Senior Officer Supriya Anna Maria James sold 4,600 shares of the company’s stock in a transaction dated Tuesday, April 23rd. The shares were sold at an average price of C$27.00, for a total transaction of C$124,203.22. 0.32% of the stock is owned by 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.