Canadian Western Bank (TSE:CWB) Reaches New 12-Month High at $44.78

Canadian Western Bank (TSE:CWB) hit a new 52-week high during mid-day trading on Tuesday . The stock traded as high as C$44.78 and last traded at C$44.43, with a volume of 118551 shares changing hands. The stock had previously closed at C$44.06.

Wall Street Analyst Weigh In

CWB has been the subject of several recent research reports. CIBC downgraded Canadian Western Bank from a “neutral” rating to a “tender” rating and increased their price target for the company from C$30.00 to C$55.80 in a report on Tuesday, June 18th. Jefferies Financial Group increased their price target on Canadian Western Bank from C$28.00 to C$52.00 and gave the company a “hold” rating in a report on Thursday, June 13th. BMO Capital Markets downgraded Canadian Western Bank from an “outperform” rating to a “market perform” rating and increased their price target for the company from C$35.00 to C$52.00 in a report on Wednesday, June 12th. Desjardins increased their price target on Canadian Western Bank from C$32.00 to C$52.00 and gave the company a “buy” rating in a report on Tuesday, June 18th. Finally, National Bankshares lowered their price target on 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. Four investment analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to MarketBeat, Canadian Western Bank presently has a consensus rating of “Moderate Buy” and an average price target of C$40.22.

Canadian Western Bank Stock Down 0.2 %

The firm has a market capitalization of C$4.34 billion, a price-to-earnings ratio of 13.62, a P/E/G ratio of 2.95 and a beta of 1.54. The stock has a 50 day moving average of C$33.87 and a 200 day moving average of C$30.45.

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

Canadian Western Bank Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, June 20th. Stockholders of record on Thursday, June 6th were given a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a dividend yield of 3.11%. This is a boost from Canadian Western Bank’s previous quarterly dividend of $0.34. The ex-dividend date of this dividend was Thursday, June 6th. Canadian Western Bank’s dividend payout ratio is presently 40.61%.

Insider Buying and Selling

In related news, Senior Officer Supriya Anna Maria James sold 4,600 shares of the company’s stock in a transaction on Tuesday, April 23rd. The stock was sold at an average price of C$27.00, for a total transaction of C$124,203.22. In related news, Senior Officer Trent Albert Erickson acquired 4,312 shares of the stock in a transaction that occurred on Friday, June 14th. The stock was purchased at an average cost of C$41.44 per share, for a total transaction of C$178,680.66. Also, Senior Officer Supriya Anna Maria James sold 4,600 shares of the company’s stock in a transaction on Tuesday, April 23rd. The stock was sold at an average price of C$27.00, for a total value of C$124,203.22. Company insiders own 0.32% of the company’s stock.

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.