CIBC Forecasts Strong Price Appreciation for Canadian Western Bank (TSE:CWB) Stock

Canadian Western Bank (TSE:CWB) had its target price upped by stock analysts at CIBC from C$60.30 to C$63.50 in a report released on Tuesday,BayStreet.CA reports. CIBC’s target price indicates a potential upside of 6.47% from the company’s current price.

A number of other research analysts have also weighed in on the company. Cormark lifted their target price on Canadian Western Bank from C$46.00 to C$47.00 in a report on Tuesday, September 3rd. Jefferies Financial Group lifted their target price on Canadian Western Bank from C$52.00 to C$57.00 and gave the company a “hold” rating in a report on Tuesday, September 3rd. Raymond James lowered Canadian Western Bank from a “moderate buy” rating to a “hold” rating and lifted their target price for the company from C$52.00 to C$54.00 in a report on Tuesday, September 3rd. Cibc World Mkts raised Canadian Western Bank to a “hold” rating in a report on Tuesday, September 3rd. Finally, BMO Capital Markets boosted their price objective on Canadian Western Bank from C$52.00 to C$58.00 in a report on Monday, November 18th. Six analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of C$51.45.

Canadian Western Bank Stock Down 0.1 %

Canadian Western Bank stock traded down C$0.08 during midday trading on Tuesday, reaching C$59.64. The stock had a trading volume of 114,153 shares, compared to its average volume of 356,471. Canadian Western Bank has a 12 month low of C$24.66 and a 12 month high of C$60.35. The firm’s 50-day moving average price is C$56.06 and its 200 day moving average price is C$46.12. The firm has a market capitalization of C$5.77 billion, a PE ratio of 20.01, a P/E/G ratio of 2.95 and a beta of 1.39.

Canadian Western Bank (TSE:CWB) last announced its quarterly earnings data on Friday, August 30th. The company reported C$0.60 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 firm had revenue of C$298.47 million during the quarter, compared to the consensus estimate of C$296.88 million. Equities research analysts expect that Canadian Western Bank will post 3.656168 EPS for the current year.

Insider Activity

In other news, Senior Officer Trent Albert Erickson sold 3,900 shares of the stock in a transaction that occurred on Wednesday, September 4th. The stock was sold at an average price of C$51.42, for a total transaction of C$200,538.00. Insiders own 0.46% 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.