Canadian Western Bank (TSE:CWB) Announces Quarterly Dividend of $0.35

Canadian Western Bank (TSE:CWB) announced a quarterly dividend on Friday, August 30th, Zacks reports. Investors of record on Thursday, September 12th will be paid a dividend of 0.35 per share on Thursday, September 26th. This represents a $1.40 dividend on an annualized basis and a yield of 2.72%. The ex-dividend date is Thursday, September 12th.

Canadian Western Bank Stock Up 0.3 %

CWB stock opened at C$51.47 on Friday. Canadian Western Bank has a twelve month low of C$24.66 and a twelve month high of C$52.80. The firm has a market capitalization of C$4.97 billion, a PE ratio of 15.32, a PEG ratio of 2.95 and a beta of 1.39. The stock has a 50-day simple moving average of C$46.61 and a two-hundred day simple moving average of C$34.88.

Canadian Western Bank (TSE:CWB) last issued its quarterly earnings data on Friday, May 31st. The company reported C$0.81 EPS for the quarter, missing the consensus estimate of C$0.86 by C($0.05). The firm had revenue of C$285.92 million for the quarter, compared to analysts’ expectations of C$290.33 million. Canadian Western Bank had a net margin of 32.29% and a return on equity of 8.66%. On average, equities research analysts anticipate that Canadian Western Bank will post 3.703869 EPS for the current fiscal year.

Insider Activity

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

Wall Street Analyst Weigh In

Several research analysts have commented on CWB shares. BMO Capital Markets downgraded shares of Canadian Western Bank from an “outperform” rating to a “market perform” rating and raised their price target for the company from C$35.00 to C$52.00 in a report on Wednesday, June 12th. CIBC lowered Canadian Western Bank from a “neutral” rating to a “tender” rating and lifted their price objective for the company from C$30.00 to C$55.80 in a research note on Tuesday, June 18th. Jefferies Financial Group upped their target price on Canadian Western Bank from C$28.00 to C$52.00 and gave the stock a “hold” rating in a research note on Thursday, June 13th. Royal Bank of Canada cut Canadian Western Bank from an “outperform” rating to a “sector perform” rating and lowered their price target for the company from C$32.00 to C$28.00 in a report on Monday, June 3rd. Finally, Desjardins lifted their price target on Canadian Western Bank from C$52.00 to C$53.00 and gave the company a “buy” rating in a research report on Tuesday, August 6th. Four investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of C$40.29.

Canadian Western Bank Company Profile

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.