Canadian Western Bank (TSE:CWB) Reaches New 52-Week High – Should You Buy?

Canadian Western Bank (TSE:CWB) hit a new 52-week high during mid-day trading on Tuesday . The company traded as high as C$56.23 and last traded at C$56.18, with a volume of 99223 shares traded. The stock had previously closed at C$55.72.

Wall Street Analyst Weigh In

CWB has been the subject of a number of analyst reports. Raymond James downgraded Canadian Western Bank from a “moderate buy” rating to a “hold” rating and increased their price target for the company from C$52.00 to C$54.00 in a report on Tuesday, September 3rd. Royal Bank of Canada increased their target price on Canadian Western Bank from C$51.00 to C$52.00 and gave the company a “sector perform” rating in a research note on Tuesday, September 3rd. Desjardins lifted their price target on shares of Canadian Western Bank from C$53.00 to C$57.00 and gave the stock a “buy” rating in a research note on Tuesday, September 3rd. Jefferies Financial Group increased their price objective on shares of Canadian Western Bank from C$52.00 to C$57.00 and gave the company a “hold” rating in a research note on Tuesday, September 3rd. Finally, Cibc World Mkts raised shares of Canadian Western Bank to a “hold” rating in a report on Tuesday, September 3rd. Six equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of C$48.03.

Canadian Western Bank Stock Performance

The firm has a market cap of C$5.50 billion, a P/E ratio of 19.08, a P/E/G ratio of 2.95 and a beta of 1.39. The firm has a fifty day moving average of C$51.83 and a 200-day moving average of C$40.50.

Canadian Western Bank (TSE:CWB) last posted its earnings results on Friday, August 30th. The company reported C$0.60 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of C$0.87 by C($0.27). Canadian Western Bank had a net margin of 29.23% and a return on equity of 7.51%. The company had revenue of C$298.47 million during the quarter, compared to the consensus estimate of C$296.88 million. Equities research analysts expect that Canadian Western Bank will post 3.656168 earnings per share for the current year.

Canadian Western Bank Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 26th. Investors of record on Thursday, September 12th were given a $0.35 dividend. The ex-dividend date was Thursday, September 12th. This represents a $1.40 annualized dividend and a yield of 2.46%. Canadian Western Bank’s dividend payout ratio is presently 46.98%.

Insiders Place Their Bets

In other Canadian Western Bank news, Senior Officer Trent Albert Erickson sold 3,900 shares of the firm’s stock in a transaction that occurred on Wednesday, September 4th. The shares were sold at an average price of C$51.42, for a total value of C$200,538.00. In other Canadian Western Bank news, Senior Officer Trent Albert Erickson sold 3,900 shares of the business’s stock in a transaction on Wednesday, September 4th. The stock was sold at an average price of C$51.42, for a total transaction of C$200,538.00. Also, Senior Officer Jenny Siman sold 1,000 shares of the firm’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. 0.46% of the stock is owned by insiders.

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.