Barclays Lowers Canadian Western Bank (TSE:CWB) Price Target to C$38.00

Canadian Western Bank (TSE:CWBGet Rating) had its price objective lowered by Barclays to C$38.00 in a report released on Wednesday, Stock Target Advisor reports. Barclays‘s price target would suggest a potential upside of 22.19% from the stock’s previous close.

Other equities research analysts have also recently issued reports about the company. BMO Capital Markets upped their target price on Canadian Western Bank from C$42.00 to C$42.50 in a report on Monday, February 28th. Scotiabank dropped their price target on Canadian Western Bank from C$48.00 to C$44.00 in a research note on Wednesday, April 13th. National Bankshares raised their price target on shares of Canadian Western Bank from C$43.00 to C$44.00 and gave the stock a “sector perform” rating in a report on Tuesday, March 1st. CIBC lowered Canadian Western Bank from an “outperform” rating to a “hold” rating and reduced their target price for the stock from C$45.00 to C$38.00 in a research note on Monday, April 11th. Finally, TD Securities boosted their price target on Canadian Western Bank from C$43.00 to C$47.00 in a research note on Tuesday, February 15th. Four investment analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, Canadian Western Bank currently has an average rating of “Buy” and a consensus price target of C$42.86.

Shares of TSE CWB traded up C$0.03 during midday trading on Wednesday, reaching C$31.10. The company had a trading volume of 106,174 shares, compared to its average volume of 285,476. The firm’s fifty day moving average price is C$34.99 and its 200-day moving average price is C$37.16. Canadian Western Bank has a one year low of C$30.79 and a one year high of C$41.56. The stock has a market cap of C$2.81 billion and a PE ratio of 8.23.

Canadian Western Bank (TSE:CWBGet Rating) last posted its earnings results on Friday, February 25th. The company reported C$0.99 earnings per share (EPS) for the quarter, beating the consensus estimate of C$0.95 by C$0.04. The company had revenue of C$265.98 million for the quarter, compared to the consensus estimate of C$268.45 million. As a group, research analysts anticipate that Canadian Western Bank will post 4.2499999 earnings per share for the current fiscal year.

In related news, Senior Officer Darrell Robert Jones sold 2,854 shares of the business’s stock in a transaction dated Thursday, March 3rd. The stock was sold at an average price of C$37.60, for a total value of C$107,310.40. Following the completion of the sale, the insider now directly owns 21,094 shares of the company’s stock, valued at C$793,134.40. Also, Senior Officer Niall Boles sold 1,300 shares of the firm’s stock in a transaction on Wednesday, April 20th. The stock was sold at an average price of C$34.60, for a total value of C$44,975.06. Following the transaction, the insider now owns 32 shares in the company, valued at C$1,107.08. In the last quarter, insiders sold 4,554 shares of company stock valued at $166,217.

About Canadian Western Bank (Get Rating)

Canadian Western Bank provides personal and business banking products and services primarily in Western Canada. The company offers current, savings, cash management, US dollar, and chequing accounts, as well as organization, strata solution/condo, general trust, and trust fund investment accounts. It also offers commercial lending and real estate, and equipment financing and leasing products; loans and mortgages; secured and unsecured lines of credit; registered retirement savings plan; consolidation, vehicle, and recreation vehicle loans; and credit cards.

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