Scotiabank Issues Positive Forecast for Canadian Western Bank (TSE:CWB) Stock Price

Canadian Western Bank (TSE:CWB) had its target price upped by stock analysts at Scotiabank from C$52.00 to C$62.00 in a report issued on Monday,BayStreet.CA reports. Scotiabank’s target price would indicate a potential upside of 3.89% from the company’s previous close.

A number of other brokerages have also recently commented on CWB. BMO Capital Markets upped their price target on shares of Canadian Western Bank from C$52.00 to C$58.00 in a research report on Monday, November 18th. Jefferies Financial Group upped 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 report on Tuesday, September 3rd. Desjardins upped their target price on shares of 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. CIBC upped their target price on shares of Canadian Western Bank from C$55.80 to C$60.30 and gave the stock a “neutral” rating in a report on Tuesday, September 3rd. Finally, Royal Bank of Canada upped their target price on shares of Canadian Western Bank from C$51.00 to C$52.00 and gave the stock a “sector perform” rating in a report on Tuesday, September 3rd. Six research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, Canadian Western Bank has an average rating of “Hold” and a consensus target price of C$51.13.

Canadian Western Bank Price Performance

CWB traded down C$0.23 during trading on Monday, hitting C$59.68. 77,029 shares of the stock traded hands, compared to its average volume of 355,904. Canadian Western Bank has a twelve month low of C$24.66 and a twelve month high of C$60.35. The company has a market cap of C$5.77 billion, a price-to-earnings ratio of 20.06, a PEG ratio of 2.95 and a beta of 1.39. The business has a 50 day moving average price of C$55.91 and a 200 day moving average price of C$46.03.

Canadian Western Bank (TSE:CWB) last issued its quarterly earnings data on Friday, August 30th. The company reported C$0.60 earnings per share for the quarter, missing the consensus estimate 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 during the quarter, compared to the consensus estimate of C$296.88 million. On average, equities research analysts predict that Canadian Western Bank will post 3.656168 earnings per share for the current year.

Insider Buying and Selling at Canadian Western Bank

In other Canadian Western Bank 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 value of C$200,538.00. Insiders own 0.46% of the company’s stock.

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.