Canadian Western Bank (TSE:CWB) Hits New 12-Month High – Here’s Why

Canadian Western Bank (TSE:CWB)’s share price hit a new 52-week high during trading on Friday . The company traded as high as C$28.00 and last traded at C$57.80, with a volume of 882801 shares traded. The stock had previously closed at C$58.88.

Wall Street Analyst Weigh In

Several research firms recently issued reports on CWB. Desjardins cut Canadian Western Bank from a “moderate buy” rating to a “hold” rating in a research note on Friday, December 20th. Scotiabank upped their target price on Canadian Western Bank from C$52.00 to C$62.00 in a report on Monday, November 25th. Royal Bank of Canada lifted their price target on shares of Canadian Western Bank from C$52.00 to C$60.00 and gave the company a “sector perform” rating in a report on Thursday, December 19th. Raymond James upped their price objective on shares of Canadian Western Bank from C$54.00 to C$59.00 and gave the stock a “market perform” rating in a report on Thursday, December 19th. Finally, BMO Capital Markets lifted their target price on shares of Canadian Western Bank from C$52.00 to C$58.00 in a research note on Monday, November 18th. Seven analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of C$54.83.

Canadian Western Bank Price Performance

The company’s 50-day simple moving average is C$58.72 and its two-hundred day simple moving average is C$53.28. The firm has a market capitalization of C$5.59 billion, a P/E ratio of 19.40, a P/E/G ratio of 2.95 and a beta of 1.39.

Canadian Western Bank Company Profile

Canadian Western Bank is a diversified financial service organization providing banking, trust, and wealth management services. The group operates through a number of subsidiaries providing different areas of financial services. Canadian Western Bank offers business banking services including general commercial banking, equipment financing and leasing, real estate financing, and other services for small- and medium-sized companies, as well as personal banking services including chequing and savings accounts, loans, mortgages, and investment products.