Canadian Western Bank (TSE:CWB) Price Target Cut to C$27.00

Canadian Western Bank (TSE:CWBGet Rating) had its target price lowered by Credit Suisse Group to C$27.00 in a research report released on Tuesday morning, Stock Target Advisor reports.

CWB has been the subject of several other reports. CSFB dropped their price target on Canadian Western Bank from C$30.00 to C$29.00 in a research note on Monday, August 29th. CIBC cut their target price on shares of Canadian Western Bank from C$29.00 to C$27.00 in a research note on Wednesday, September 7th. National Bankshares decreased their price target on shares of Canadian Western Bank from C$38.00 to C$34.00 in a research note on Friday, November 18th. Barclays set a C$29.00 price objective on Canadian Western Bank in a research report on Monday, November 14th. Finally, Cormark boosted their target price on Canadian Western Bank from C$36.00 to C$37.00 in a research report on Monday, August 29th. Six analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of Hold and an average price target of C$32.42.

Canadian Western Bank Stock Performance

Shares of Canadian Western Bank stock opened at C$25.71 on Tuesday. Canadian Western Bank has a fifty-two week low of C$21.21 and a fifty-two week high of C$41.35. The company has a market capitalization of C$2.39 billion and a P/E ratio of 6.99. The company has a fifty day moving average of C$23.52 and a 200 day moving average of C$26.03.

Canadian Western Bank (TSE:CWBGet Rating) last announced its quarterly earnings data 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 business had revenue of C$271.71 million during the quarter, compared to analysts’ expectations of C$280.43 million. Analysts forecast that Canadian Western Bank will post 3.7799999 EPS for the current year.

Canadian Western Bank Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, September 22nd. Stockholders of record on Thursday, September 8th were issued a $0.31 dividend. This is a boost from Canadian Western Bank’s previous quarterly dividend of $0.30. The ex-dividend date of this dividend was Wednesday, September 7th. This represents a $1.24 dividend on an annualized basis and a dividend yield of 4.82%. Canadian Western Bank’s payout ratio is 32.61%.

Insider Activity

In related news, Senior Officer Stephen Howard Edward Murphy purchased 5,000 shares of the stock in a transaction that occurred on Monday, September 26th. The stock was bought at an average cost of C$22.46 per share, for a total transaction of C$112,300.00. Following the completion of the transaction, the insider now directly owns 45,006 shares in the company, valued at C$1,010,834.76.

Canadian Western Bank Company Profile

(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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Analyst Recommendations for Canadian Western Bank (TSE:CWB)

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