Canadian Western Bank (TSE:CWB) Sets New 52-Week High at $43.70

Canadian Western Bank (TSE:CWB)’s stock price hit a new 52-week high during trading on Tuesday . The stock traded as high as C$43.70 and last traded at C$43.55, with a volume of 669861 shares trading hands. The stock had previously closed at C$42.75.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the stock. Scotiabank increased their price objective 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. National Bankshares lowered their price target 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. Veritas Investment Research reiterated a “buy” rating on shares of Canadian Western Bank in a report on Monday, March 4th. Desjardins raised their target price on Canadian Western Bank from C$32.00 to C$52.00 and gave the company a “buy” rating in a research note on Tuesday, June 18th. Finally, CIBC cut Canadian Western Bank from a “neutral” rating to a “tender” rating and boosted their price target for the stock from C$30.00 to C$55.80 in a research note on Tuesday, June 18th. Four equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat, Canadian Western Bank has an average rating of “Moderate Buy” and an average price target of C$40.22.

Canadian Western Bank Stock Up 1.9 %

The stock has a market cap of C$4.20 billion, a P/E ratio of 12.95, a price-to-earnings-growth ratio of 2.95 and a beta of 1.54. The firm’s 50 day simple moving average is C$29.37 and its two-hundred day simple moving average is C$29.26.

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

Canadian Western Bank Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, June 20th. Stockholders of record on Thursday, June 6th were issued a dividend of $0.35 per share. This is an increase 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 dividend yield of 3.21%. Canadian Western Bank’s payout ratio is 40.61%.

Insider Buying and Selling at Canadian Western Bank

In other news, Senior Officer Mark Stafford sold 1,708 shares of the firm’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. In other Canadian Western Bank news, Senior Officer Mark Stafford sold 1,708 shares of the 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 Canadian Western Bank 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 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.