Canadian Western Bank (TSE:CWB) Reaches New 1-Year High at $29.40

Shares of Canadian Western Bank (TSE:CWB) hit a new 52-week high during trading on Wednesday . The company traded as high as C$29.40 and last traded at C$29.23, with a volume of 25050 shares. The stock had previously closed at C$29.18.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on CWB. Scotiabank upped their price objective on shares of Canadian Western Bank from C$27.00 to C$32.00 and gave the company a “sector perform” rating in a research report on Tuesday, September 5th. Barclays raised their price objective on Canadian Western Bank from C$29.00 to C$31.00 and gave the company an “overweight” rating in a research note on Tuesday, September 5th. CIBC upped their target price on Canadian Western Bank from C$26.00 to C$31.00 and gave the company a “neutral” rating in a research report on Tuesday, September 5th. Cormark increased their target price on Canadian Western Bank from C$28.00 to C$33.00 and gave the company a “buy” rating in a research note on Tuesday, September 5th. Finally, Raymond James lifted their price target on shares of Canadian Western Bank from C$30.00 to C$34.00 and gave the stock an “outperform” rating in a research note on Tuesday, September 5th. Four analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat, Canadian Western Bank presently has a consensus rating of “Moderate Buy” and a consensus target price of C$31.67.

Canadian Western Bank Trading Up 0.5 %

The firm has a market cap of C$2.83 billion, a P/E ratio of 8.84, a P/E/G ratio of 2.95 and a beta of 1.59. The business’s 50-day moving average is C$28.15 and its two-hundred day moving average is C$26.34.

Canadian Western Bank (TSE:CWB) last issued its earnings results on Friday, September 1st. The company reported C$0.88 EPS for the quarter, beating analysts’ consensus estimates of C$0.80 by C$0.08. The company had revenue of C$283.51 million during the quarter, compared to the consensus estimate of C$276.30 million. Canadian Western Bank had a return on equity of 8.89% and a net margin of 31.87%. On average, analysts anticipate that Canadian Western Bank will post 3.6975547 earnings per share for the current year.

Canadian Western Bank Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 28th. Investors of record on Thursday, September 14th were issued a $0.33 dividend. The ex-dividend date of this dividend was Wednesday, September 13th. This represents a $1.32 dividend on an annualized basis and a dividend yield of 4.50%. Canadian Western Bank’s dividend payout ratio (DPR) is presently 40.00%.

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.