Canadian Western Bank (TSE:CWB) Share Price Crosses Above 200-Day Moving Average – Here’s What Happened

Canadian Western Bank (TSE:CWB)’s stock price passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of C$41.01 and traded as high as C$57.01. Canadian Western Bank shares last traded at C$56.75, with a volume of 220,585 shares changing hands.

Wall Street Analyst Weigh In

Several research firms have recently commented on CWB. Desjardins lifted their price target 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. Royal Bank of Canada increased their price target 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 note on Tuesday, September 3rd. CIBC lifted their price target on shares of Canadian Western Bank from C$55.80 to C$60.30 and gave the company a “neutral” rating in a research report on Tuesday, September 3rd. Jefferies Financial Group raised their target price on Canadian Western Bank from C$52.00 to C$57.00 and gave the stock a “hold” rating in a research note on Tuesday, September 3rd. Finally, Raymond James cut shares of Canadian Western Bank from a “moderate buy” rating to a “hold” rating and upped their target price for the company from C$52.00 to C$54.00 in a research report on Tuesday, September 3rd. Six equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of C$48.03.

Canadian Western Bank Stock Down 0.3 %

The firm has a fifty day simple moving average of C$52.83 and a 200-day simple moving average of C$41.42. The company has a market cap of C$5.47 billion, a PE ratio of 18.99, a price-to-earnings-growth ratio of 2.95 and a beta of 1.39.

Canadian Western Bank (TSE:CWB) last issued its quarterly earnings data on Friday, August 30th. The company reported C$0.60 earnings per share (EPS) 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 for the quarter, compared to analysts’ expectations of C$296.88 million. Equities research analysts forecast that Canadian Western Bank will post 3.656168 earnings per share for the current fiscal year.

Canadian Western Bank Announces Dividend

The business also recently disclosed 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 dividend on an annualized basis and a yield of 2.47%. Canadian Western Bank’s payout ratio is 46.98%.

Insider Transactions at Canadian Western Bank

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 value of C$200,538.00. Company 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.