Brokerages Set Canadian Western Bank (TSE:CWB) Price Target at C$33.73

Shares of Canadian Western Bank (TSE:CWB) have been given an average recommendation of “Moderate Buy” by the twelve analysts that are covering the company, Marketbeat Ratings reports. Two equities research analysts have rated the stock with a hold rating and ten have issued a buy rating on the company. The average 12 month target price among brokers that have covered the stock in the last year is C$33.73.

Several research analysts recently issued reports on the company. Desjardins lowered their target price on Canadian Western Bank from C$37.00 to C$35.00 and set a “buy” rating for the company in a research report on Monday, March 4th. CIBC boosted their target price on shares of Canadian Western Bank from C$32.00 to C$34.00 and gave the company a “neutral” rating in a research report on Wednesday, February 14th. Royal Bank of Canada cut their price target on Canadian Western Bank from C$34.00 to C$32.00 and set an “outperform” rating on the stock in a report on Monday, March 4th. Veritas Investment Research reiterated a “buy” rating on shares of Canadian Western Bank in a report on Monday, March 4th. Finally, Scotiabank upgraded Canadian Western Bank from a “sector perform” rating to an “outperform” rating and set a C$32.00 price objective on the stock in a research note on Tuesday, February 20th.

Insiders Place Their Bets

In other news, Senior Officer Supriya Anna Maria James sold 4,600 shares of the firm’s stock in a transaction dated Tuesday, April 23rd. The shares were sold at an average price of C$27.00, for a total transaction of C$124,203.22. In related news, Senior Officer Mark Stafford sold 1,708 shares of the company’s stock in a transaction on Tuesday, April 9th. The stock was sold at an average price of C$27.94, for a total transaction of C$47,728.69. Also, Senior Officer Supriya Anna Maria James sold 4,600 shares of the stock in a transaction dated Tuesday, April 23rd. The shares were sold at an average price of C$27.00, for a total value of C$124,203.22. Corporate insiders own 0.32% of the company’s stock.

Canadian Western Bank Trading Up 0.1 %

Shares of TSE CWB opened at C$26.73 on Thursday. Canadian Western Bank has a 12 month low of C$22.96 and a 12 month high of C$31.64. The company has a market capitalization of C$2.58 billion, a P/E ratio of 8.10, a P/E/G ratio of 2.95 and a beta of 1.57. The stock has a 50 day moving average of C$27.86 and a 200-day moving average of C$28.82.

Canadian Western Bank (TSE:CWB) last announced its quarterly earnings data on Friday, March 1st. The company reported C$0.93 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of C$0.91 by C$0.02. The firm had revenue of C$289.99 million for the quarter, compared to the consensus estimate of C$301.10 million. Canadian Western Bank had a net margin of 31.97% and a return on equity of 8.58%. Analysts predict that Canadian Western Bank will post 3.5601057 EPS for the current fiscal year.

Canadian Western Bank Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, March 21st. Stockholders of record on Thursday, March 7th were issued a dividend of $0.34 per share. This represents a $1.36 dividend on an annualized basis and a dividend yield of 5.09%. The ex-dividend date was Wednesday, March 6th. Canadian Western Bank’s payout ratio is 40.61%.

About Canadian Western Bank

Canadian Western Bank provides personal and business banking products and services in Western Canada. The company offers current, savings, US dollar, chequing, flex notice, organization, business trust, and trust fund investment accounts. It also offers commercial lending and real estate, equipment financing and leasing, aviation financing, and dealership financing products; agriculture lending products and AgriInvest savings account; variable and fixed rate mortgages; line of credit; registered retirement savings plan, consolidation, and vehicle loans; and credit cards.