Canadian Western Bank (TSE:CWB) Receives Average Rating of “Moderate Buy” from Brokerages

Shares of Canadian Western Bank (TSE:CWB) have received a consensus recommendation of “Moderate Buy” from the twelve brokerages that are presently covering the stock, MarketBeat Ratings reports. Six investment analysts have rated the stock with a hold recommendation and six have issued a buy recommendation on the company. The average twelve-month price objective among brokers that have updated their coverage on the stock in the last year is C$48.03.

A number of equities research analysts have issued reports on CWB shares. Cormark boosted their target price on shares of Canadian Western Bank from C$46.00 to C$47.00 in a report on Tuesday, September 3rd. Desjardins increased their price objective on Canadian Western Bank from C$53.00 to C$57.00 and gave the stock a “buy” rating in a report on Tuesday, September 3rd. Jefferies Financial Group lifted their target price on Canadian Western Bank from C$52.00 to C$57.00 and gave the company a “hold” rating in a report on Tuesday, September 3rd. Cibc World Mkts raised shares of Canadian Western Bank to a “hold” rating in a report on Tuesday, September 3rd. Finally, Royal Bank of Canada raised their price objective on shares of Canadian Western Bank from C$51.00 to C$52.00 and gave the company a “sector perform” rating in a research report on Tuesday, September 3rd.

Canadian Western Bank Price Performance

The business’s fifty day moving average price is C$52.44 and its two-hundred day moving average price is C$41.01. Canadian Western Bank has a 12 month low of C$24.66 and a 12 month high of C$57.43. The company has a market cap of C$5.48 billion, a P/E ratio of 19.01, a price-to-earnings-growth ratio of 2.95 and a beta of 1.39.

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

Canadian Western Bank Announces Dividend

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

Insiders Place Their Bets

In other news, Senior Officer Trent Albert Erickson sold 3,900 shares of the firm’s stock in a transaction on Wednesday, September 4th. The shares were sold at an average price of C$51.42, for a total transaction of C$200,538.00. Corporate insiders own 0.46% of the company’s stock.

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.