Canadian Western Bank (TSE:CWB) Price Target Raised to C$60.30

Canadian Western Bank (TSE:CWB) had its target price boosted by CIBC from C$55.80 to C$60.30 in a research note issued to investors on Tuesday, BayStreet.CA reports. CIBC currently has a neutral rating on the stock.

Several other research firms also recently weighed in on CWB. Desjardins upped their price objective on shares of Canadian Western Bank from C$52.00 to C$53.00 and gave the stock a buy rating in a report on Tuesday, August 6th. Royal Bank of Canada upped their price target on shares of Canadian Western Bank from C$51.00 to C$52.00 and gave the stock a sector perform rating in a research note on Tuesday. National Bankshares lowered their price objective on shares of Canadian Western Bank from C$37.00 to C$30.00 and set an outperform rating on the stock in a research note on Monday, June 3rd. Scotiabank boosted their target price on Canadian Western Bank from C$30.00 to C$52.00 and gave the stock an outperform rating in a report on Tuesday, June 18th. Finally, BMO Capital Markets lowered 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 research note on Wednesday, June 12th. Six analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of Moderate Buy and a consensus target price of C$48.03.

Canadian Western Bank Stock Performance

Shares of CWB stock opened at C$51.93 on Tuesday. Canadian Western Bank has a 1 year low of C$24.66 and a 1 year high of C$52.80. The firm has a market capitalization of C$5.01 billion, a PE ratio of 15.46, a price-to-earnings-growth ratio of 2.95 and a beta of 1.39. The stock has a fifty day moving average of C$47.29 and a two-hundred day moving average of C$35.54.

Canadian Western Bank Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 26th. Stockholders of record on Thursday, September 12th will be given a dividend of $0.35 per share. The ex-dividend date of this dividend is Thursday, September 12th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 2.70%. Canadian Western Bank’s dividend payout ratio (DPR) is presently 41.67%.

Insider Transactions at Canadian Western Bank

In related news, Senior Officer Trent Albert Erickson purchased 4,312 shares of the firm’s stock in a transaction that occurred on Friday, June 14th. The stock was acquired at an average price of C$41.44 per share, for a total transaction of C$178,680.66. In other news, Senior Officer Jenny Siman sold 1,000 shares of Canadian Western Bank stock in a transaction that occurred on Monday, July 22nd. The shares were sold at an average price of C$46.05, for a total value of C$46,050.00. Also, Senior Officer Trent Albert Erickson purchased 4,312 shares of Canadian Western Bank stock in a transaction that occurred on Friday, June 14th. The stock was purchased at an average price of C$41.44 per share, with a total value of C$178,680.66. Corporate insiders own 0.46% of the company’s stock.

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.