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

Canadian Western Bank (TSE:CWBGet Rating) had its price target cut by CSFB from C$29.00 to C$27.00 in a research report sent to investors on Tuesday, BayStreet.CA reports.

A number of other research firms have also commented on CWB. CIBC lowered their target price on shares of Canadian Western Bank from C$29.00 to C$27.00 in a report on Wednesday, September 7th. TD Securities decreased their price objective on Canadian Western Bank from C$39.00 to C$38.00 and set a buy rating for the company in a research note on Monday, August 29th. Royal Bank of Canada cut their target price on Canadian Western Bank from C$38.00 to C$35.00 and set a sector perform rating on the stock in a research note on Monday, August 29th. Barclays set a C$29.00 target price on Canadian Western Bank in a report on Monday, November 14th. Finally, BMO Capital Markets lowered their price target on Canadian Western Bank from C$39.50 to C$35.00 in a research note on Monday, August 29th. Six research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of Hold and a consensus target price of C$32.42.

Canadian Western Bank Stock Down 0.5 %

Canadian Western Bank stock opened at C$25.71 on Tuesday. The business’s 50-day simple moving average is C$23.52 and its 200 day simple moving average is C$26.03. The stock has a market cap of C$2.39 billion and a price-to-earnings ratio of 6.99. Canadian Western Bank has a 12-month low of C$21.21 and a 12-month high of C$41.35.

Canadian Western Bank (TSE:CWBGet Rating) last released its earnings results on Friday, August 26th. The company reported C$0.90 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of C$0.89 by C$0.01. The business had revenue of C$271.71 million for the quarter, compared to analyst estimates of C$280.43 million. As a group, sell-side analysts expect 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. Shareholders of record on Thursday, September 8th were issued a dividend of $0.31 per share. This is an increase from Canadian Western Bank’s previous quarterly dividend of $0.30. This represents a $1.24 annualized dividend and a yield of 4.82%. The ex-dividend date was Wednesday, September 7th. Canadian Western Bank’s dividend payout ratio (DPR) is 32.61%.

Insider Activity

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

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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