Canadian Western Bank (TSE:CWB) Shares Pass Above Two Hundred Day Moving Average of $28.53

Shares of Canadian Western Bank (TSE:CWBGet Free Report) crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of C$28.53 and traded as high as C$29.11. Canadian Western Bank shares last traded at C$28.85, with a volume of 118,951 shares trading hands.

Wall Street Analyst Weigh In

A number of brokerages have commented on CWB. Cormark increased their price objective on shares of Canadian Western Bank from C$34.00 to C$35.00 in a report on Monday, December 11th. Scotiabank decreased their price target on Canadian Western Bank from C$33.00 to C$32.00 and set a “sector perform” rating on the stock in a report on Wednesday, December 20th. CIBC boosted their price objective on Canadian Western Bank from C$30.00 to C$32.00 and gave the stock a “neutral” rating in a report on Monday, December 11th. TD Securities increased their target price on Canadian Western Bank from C$32.00 to C$34.00 and gave the company a “buy” rating in a research note on Monday, December 11th. Finally, National Bankshares increased their price target on shares of Canadian Western Bank from C$34.00 to C$37.00 and gave the company an “outperform” rating in a research report on Wednesday, December 20th. Three equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of C$33.91.

Get Our Latest Analysis on Canadian Western Bank

Canadian Western Bank Stock Down 0.1 %

The firm has a market cap of C$2.78 billion, a price-to-earnings ratio of 8.54, a PEG ratio of 2.95 and a beta of 1.57. The company’s fifty day moving average is C$30.29 and its 200 day moving average is C$28.53.

Canadian Western Bank (TSE:CWBGet Free Report) last released its quarterly earnings results on Friday, December 8th. The company reported C$0.94 EPS for the quarter, beating the consensus estimate of C$0.89 by C$0.05. The business had revenue of C$291.76 million for the quarter, compared to the consensus estimate of C$292.40 million. Canadian Western Bank had a net margin of 32.29% and a return on equity of 9.04%. On average, equities research analysts forecast that Canadian Western Bank will post 3.6574186 EPS for the current fiscal year.

Canadian Western Bank Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, January 4th. Shareholders of record on Thursday, December 21st were issued a $0.34 dividend. This is a positive change from Canadian Western Bank’s previous quarterly dividend of $0.33. This represents a $1.36 annualized dividend and a yield of 4.71%. The ex-dividend date was Wednesday, December 20th. Canadian Western Bank’s dividend payout ratio (DPR) is currently 39.05%.

Insider Buying and Selling

In other news, Senior Officer Vladimir Ahmad sold 2,253 shares of Canadian Western Bank stock in a transaction on Monday, January 22nd. The stock was sold at an average price of C$30.00, for a total value of C$67,590.00. 0.37% of the stock is currently owned by company insiders.

Canadian Western Bank Company Profile

(Get Free Report)

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.

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