BMO Capital Markets Issues Positive Forecast for Canadian Western Bank (TSE:CWB) Stock Price

Canadian Western Bank (TSE:CWB) had its price target lifted by equities researchers at BMO Capital Markets from C$52.00 to C$58.00 in a report released on Monday,BayStreet.CA reports. BMO Capital Markets’ price target indicates a potential downside of 0.96% from the stock’s previous close.

A number of other equities analysts have also recently weighed in on CWB. Royal Bank of Canada raised their price objective on Canadian Western Bank from C$51.00 to C$52.00 and gave the company a “sector perform” rating in a report on Tuesday, September 3rd. CIBC lifted their price objective on Canadian Western Bank from C$55.80 to C$60.30 and gave the stock a “neutral” rating in a research report on Tuesday, September 3rd. Raymond James lowered Canadian Western Bank from a “moderate buy” rating to a “hold” rating and lifted their price objective for the stock from C$52.00 to C$54.00 in a research report on Tuesday, September 3rd. Desjardins raised their target price on Canadian Western Bank from C$53.00 to C$57.00 and gave the company a “buy” rating in a research note on Tuesday, September 3rd. Finally, Cormark raised their target price on Canadian Western Bank from C$46.00 to C$47.00 in a research note on Tuesday, September 3rd. Six equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of C$48.57.

Canadian Western Bank Stock Up 1.1 %

CWB traded up C$0.63 during trading on Monday, reaching C$58.56. 131,525 shares of the company were exchanged, compared to its average volume of 358,835. The company’s 50-day moving average is C$55.17 and its two-hundred day moving average is C$44.87. The company has a market cap of C$5.66 billion, a price-to-earnings ratio of 19.65, a P/E/G ratio of 2.95 and a beta of 1.39. Canadian Western Bank has a 12-month low of C$24.66 and a 12-month high of C$58.70.

Canadian Western Bank (TSE:CWB) last released its quarterly earnings results on Friday, August 30th. The company reported C$0.60 earnings per share for the quarter, missing the consensus estimate of C$0.87 by C($0.27). Canadian Western Bank had a net margin of 29.23% and a return on equity of 7.51%. The business had revenue of C$298.47 million during the quarter, compared to analysts’ expectations of C$296.88 million. Equities analysts forecast that Canadian Western Bank will post 3.656168 earnings per share for the current year.

Insider Buying and Selling at Canadian Western Bank

In other news, Senior Officer Trent Albert Erickson sold 3,900 shares of the company’s stock in a transaction dated Wednesday, September 4th. The stock was sold at an average price of C$51.42, for a total value of C$200,538.00. 0.46% of the stock is currently owned by corporate 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.