Brokerages Set Canadian Western Bank (TSE:CWB) PT at C$33.55

Shares of Canadian Western Bank (TSE:CWB) have been given an average rating of “Moderate Buy” by the twelve brokerages that are presently covering the company, Marketbeat.com reports. Two analysts have rated the stock with a hold recommendation and ten have given a buy recommendation to the company. The average twelve-month price objective among analysts that have covered the stock in the last year is C$33.55.

Several equities analysts recently commented on CWB shares. Scotiabank raised shares of Canadian Western Bank from a “sector perform” rating to an “outperform” rating and set a C$32.00 price objective for the company in a research note on Tuesday, February 20th. Veritas Investment Research reissued a “buy” rating on shares of Canadian Western Bank in a research note on Monday, March 4th. Desjardins cut their price target on shares of Canadian Western Bank from C$35.00 to C$33.00 and set a “buy” rating for the company in a research note on Monday, May 6th. CIBC boosted their price target on shares of Canadian Western Bank from C$32.00 to C$34.00 and gave the stock a “neutral” rating in a research note on Wednesday, February 14th. Finally, Royal Bank of Canada cut their price target on shares of Canadian Western Bank from C$34.00 to C$32.00 and set an “outperform” rating for the company in a research note on Monday, March 4th.

Insider Activity

In other news, Senior Officer Mark Stafford sold 1,708 shares of the stock in a transaction that occurred on Tuesday, April 9th. The shares were sold at an average price of C$27.94, for a total value of C$47,728.69. In other Canadian Western Bank news, Senior Officer Mark Stafford sold 1,708 shares of the firm’s stock in a transaction that occurred on Tuesday, April 9th. The shares were 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 firm’s stock in a transaction that occurred on Tuesday, April 23rd. The stock was sold at an average price of C$27.00, for a total transaction of C$124,203.22. Insiders own 0.32% of the company’s stock.

Canadian Western Bank Stock Performance

Shares of CWB stock opened at C$27.01 on Monday. The firm has a market cap of C$2.61 billion, a price-to-earnings ratio of 8.18, a P/E/G ratio of 2.95 and a beta of 1.54. Canadian Western Bank has a 52 week low of C$22.96 and a 52 week high of C$31.64. The firm’s 50-day simple moving average is C$27.28 and its two-hundred day simple moving average is C$28.76.

Canadian Western Bank (TSE:CWB) last announced its quarterly earnings data on Friday, March 1st. The company reported C$0.93 EPS for the quarter, topping the consensus estimate of C$0.91 by C$0.02. Canadian Western Bank had a net margin of 31.97% and a return on equity of 8.58%. The business had revenue of C$289.99 million for the quarter, compared to analyst estimates of C$301.10 million. Analysts forecast that Canadian Western Bank will post 3.6174142 earnings per share for the current year.

Canadian Western Bank Announces Dividend

The business 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 5.04%. The ex-dividend date of this dividend was Wednesday, March 6th. Canadian Western Bank’s payout ratio is presently 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.