Canadian Western Bank (TSE:CWB) Sets New 12-Month High at $26.81

Canadian Western Bank (TSE:CWB) hit a new 52-week high during mid-day trading on Thursday . The stock traded as high as C$26.81 and last traded at C$47.97, with a volume of 97306 shares trading hands. The stock had previously closed at C$47.48.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on CWB. Scotiabank upped their price target on shares of Canadian Western Bank from C$30.00 to C$52.00 and gave the company an “outperform” rating in a research report on Tuesday, June 18th. Jefferies Financial Group upped their price objective on shares of Canadian Western Bank from C$28.00 to C$52.00 and gave the company a “hold” rating in a research note on Thursday, June 13th. National Bankshares reduced their price objective on shares of Canadian Western Bank from C$37.00 to C$30.00 and set an “outperform” rating on the stock in a research note on Monday, June 3rd. CIBC lowered shares of Canadian Western Bank from a “neutral” rating to a “tender” rating and upped their price objective for the company from C$30.00 to C$55.80 in a research note on Tuesday, June 18th. Finally, Royal Bank of Canada lowered shares of Canadian Western Bank from an “outperform” rating to a “sector perform” rating and reduced their price objective for the company from C$32.00 to C$28.00 in a research note on Monday, June 3rd. Four investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of C$40.29.

Canadian Western Bank Stock Up 0.9 %

The stock has a market capitalization of C$4.74 billion, a P/E ratio of 14.62, a price-to-earnings-growth ratio of 2.95 and a beta of 1.39. The business’s 50 day simple moving average is C$44.30 and its two-hundred day simple moving average is C$33.42.

Canadian Western Bank (TSE:CWB) last released its quarterly earnings data on Friday, May 31st. The company reported C$0.81 earnings per share for the quarter, missing analysts’ consensus estimates of C$0.86 by C($0.05). Canadian Western Bank had a net margin of 32.29% and a return on equity of 8.66%. The business had revenue of C$285.92 million during the quarter, compared to the consensus estimate of C$290.33 million. Analysts predict that Canadian Western Bank will post 3.7208565 earnings per share for the current year.

Canadian Western Bank Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, June 20th. Stockholders of record on Thursday, June 6th were issued a $0.35 dividend. The ex-dividend date of this dividend was Thursday, June 6th. This represents a $1.40 annualized dividend and a dividend yield of 2.85%. This is an increase from Canadian Western Bank’s previous quarterly dividend of $0.34. Canadian Western Bank’s dividend payout ratio is currently 41.67%.

Insider Buying and Selling

In related news, Senior Officer Trent Albert Erickson acquired 4,312 shares of the firm’s stock in a transaction that occurred on Friday, June 14th. The stock was acquired at an average price of C$41.44 per share, for a total transaction of C$178,680.66. In other Canadian Western Bank news, Senior Officer Trent Albert Erickson bought 4,312 shares of the business’s stock in a transaction on Friday, June 14th. The stock was purchased at an average price of C$41.44 per share, for a total transaction of C$178,680.66. Also, Senior Officer Jenny Siman sold 1,000 shares of the stock in a transaction dated Monday, July 22nd. The stock was sold at an average price of C$46.05, for a total transaction of C$46,050.00. 0.46% of the stock is currently owned by corporate insiders.

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.