Canadian Western Bank (TSE:CWB) Stock Price Up 9.9%

Canadian Western Bank (TSE:CWB) rose 9.9% during trading on Friday . The stock traded as high as C$29.08 and last traded at C$28.89. Approximately 261,421 shares changed hands during mid-day trading, a decline of 28% from the average daily volume of 361,518 shares. The stock had previously closed at C$26.29.

Wall Street Analyst Weigh In

CWB has been the topic of several research reports. Royal Bank of Canada upgraded Canadian Western Bank from a “sector perform” rating to an “outperform” rating and cut their target price for the company from C$35.00 to C$34.00 in a research note on Tuesday, May 30th. Cormark cut their target price on Canadian Western Bank from C$30.00 to C$28.00 in a research note on Monday, May 29th. National Bankshares cut their target price on Canadian Western Bank from C$31.00 to C$28.00 and set an “outperform” rating on the stock in a research note on Monday, May 29th. Scotiabank dropped their price objective on Canadian Western Bank from C$28.00 to C$27.00 in a research note on Monday, May 29th. Finally, Raymond James dropped their price objective on Canadian Western Bank from C$34.00 to C$30.00 and set an “outperform” rating on the stock in a research note on Monday, May 29th. Two investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, Canadian Western Bank has an average rating of “Moderate Buy” and a consensus price target of C$28.64.

Canadian Western Bank Stock Up 9.4 %

The company has a market cap of C$2.77 billion, a price-to-earnings ratio of 8.77, a PEG ratio of 2.95 and a beta of 1.65. The firm has a 50 day moving average price of C$25.68 and a two-hundred day moving average price of C$25.23.

About Canadian Western Bank

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