Scotiabank Cuts Canadian Western Bank (TSE:CWB) Price Target to C$31.00

Canadian Western Bank (TSE:CWB) had its price target dropped by analysts at Scotiabank from C$32.00 to C$31.00 in a research note issued on Tuesday, BayStreet.CA reports. The brokerage presently has a “sector perform” rating on the stock. Scotiabank’s price target would suggest a potential upside of 7.90% from the company’s previous close.

CWB has been the subject of a number of other research reports. Cormark upped their price objective on shares of Canadian Western Bank from C$28.00 to C$33.00 and gave the stock a “buy” rating in a research report on Tuesday, September 5th. Desjardins cut their target price on Canadian Western Bank from C$34.00 to C$33.00 and set a “buy” rating for the company in a research note on Monday, November 6th. National Bankshares set a C$33.00 price objective on Canadian Western Bank and gave the stock an “outperform” rating in a report on Tuesday. CSFB increased their price target on shares of Canadian Western Bank from C$26.00 to C$31.00 and gave the company a “neutral” rating in a report on Tuesday, September 5th. Finally, Raymond James upped their target price on shares of Canadian Western Bank from C$30.00 to C$34.00 and gave the stock an “outperform” rating in a research report on Tuesday, September 5th. Four equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat, Canadian Western Bank has a consensus rating of “Moderate Buy” and an average target price of C$31.58.

Canadian Western Bank Stock Down 0.8 %

TSE:CWB traded down C$0.22 during trading hours on Tuesday, reaching C$28.73. 95,007 shares of the company’s stock were exchanged, compared to its average volume of 349,121. The firm has a market capitalization of C$2.77 billion, a price-to-earnings ratio of 8.71, a P/E/G ratio of 2.95 and a beta of 1.59. Canadian Western Bank has a 1-year low of C$22.96 and a 1-year high of C$29.46. The company has a 50-day moving average of C$28.16 and a 200 day moving average of C$26.47.

Canadian Western Bank (TSE:CWB) last issued its quarterly earnings results on Friday, September 1st. The company reported C$0.88 earnings per share (EPS) for the quarter, beating the consensus estimate of C$0.80 by C$0.08. Canadian Western Bank had a return on equity of 8.89% and a net margin of 31.87%. The firm had revenue of C$283.51 million for the quarter, compared to analysts’ expectations of C$276.30 million. Research analysts forecast that Canadian Western Bank will post 3.7197943 EPS for the current fiscal year.

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, 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.