Shares of Canadian Western Bank (TSE:CWB – Get Rating) have been given an average rating of “Moderate Buy” by the fourteen brokerages that are presently covering the firm, MarketBeat Ratings reports. Four analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The average 12 month price objective among brokerages that have issued a report on the stock in the last year is C$33.33.
CWB has been the subject of several research reports. Barclays dropped their target price on Canadian Western Bank to C$31.00 and set an “equal weight” rating for the company in a research report on Monday, August 29th. Royal Bank of Canada dropped their target price on Canadian Western Bank from C$38.00 to C$35.00 and set a “sector perform” rating for the company in a research report on Monday, August 29th. Cormark increased their target price on Canadian Western Bank from C$36.00 to C$37.00 in a research report on Monday, August 29th. CSFB lowered their price objective on Canadian Western Bank from C$30.00 to C$29.00 in a research report on Monday, August 29th. Finally, BMO Capital Markets lowered their price objective on Canadian Western Bank from C$39.50 to C$35.00 in a research report on Monday, August 29th.
Insiders Place Their Bets
In other Canadian Western Bank news, Senior Officer Darrell Robert Jones sold 1,600 shares of Canadian Western Bank stock in a transaction that occurred on Tuesday, July 26th. The stock was sold at an average price of C$25.50, for a total value of C$40,800.00. Following the completion of the sale, the insider now directly owns 25,206 shares in the company, valued at C$642,753. In other news, Senior Officer Stephen Howard Edward Murphy acquired 5,000 shares of Canadian Western Bank stock in a transaction on Monday, September 26th. The stock was purchased at an average price of C$22.46 per share, with a total value of C$112,300.00. Following the completion of the purchase, the insider now owns 45,006 shares of the company’s stock, valued at approximately C$1,010,834.76. Also, Senior Officer Darrell Robert Jones sold 1,600 shares of the firm’s stock in a transaction that occurred on Tuesday, July 26th. The shares were sold at an average price of C$25.50, for a total value of C$40,800.00. Following the completion of the sale, the insider now directly owns 25,206 shares of the company’s stock, valued at approximately C$642,753. Over the last three months, insiders acquired 10,700 shares of company stock worth $242,695.
Canadian Western Bank Stock Up 0.7 %
TSE:CWB opened at C$22.83 on Friday. The stock’s 50-day simple moving average is C$24.20 and its 200 day simple moving average is C$27.49. The firm has a market capitalization of C$2.12 billion and a PE ratio of 6.20. Canadian Western Bank has a twelve month low of C$21.21 and a twelve month high of C$41.56.
Canadian Western Bank (TSE:CWB – Get Rating) last posted its earnings results on Friday, August 26th. The company reported C$0.90 EPS for the quarter, beating the consensus estimate of C$0.89 by C$0.01. The firm had revenue of C$271.71 million during the quarter, compared to the consensus estimate of C$280.43 million. On average, analysts anticipate that Canadian Western Bank will post 3.7999998 EPS for the current fiscal year.
Canadian Western Bank Increases Dividend
The firm also recently announced a quarterly dividend, which was paid on Thursday, September 22nd. Shareholders of record on Thursday, September 8th were issued a $0.31 dividend. This is an increase from Canadian Western Bank’s previous quarterly dividend of $0.30. This represents a $1.24 dividend on an annualized basis and a yield of 5.43%. The ex-dividend date of this dividend was Wednesday, September 7th. Canadian Western Bank’s payout ratio is presently 33.70%.
Canadian Western Bank Company Profile
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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