Analysts Set Canadian Western Bank (TSE:CWB) Price Target at C$33.73

Canadian Western Bank (TSE:CWB) has been given an average recommendation of “Moderate Buy” by the twelve research firms that are presently covering the company, MarketBeat reports. Two analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. The average 1-year price target among brokers that have issued a report on the stock in the last year is C$33.73.

A number of research firms recently issued reports on CWB. Veritas Investment Research restated a “buy” rating on shares of Canadian Western Bank in a research report on Monday, March 4th. Royal Bank of Canada reduced their price target on shares of Canadian Western Bank from C$34.00 to C$32.00 and set an “outperform” rating for the company in a report on Monday, March 4th. Scotiabank raised shares of Canadian Western Bank from a “sector perform” rating to an “outperform” rating and set a C$32.00 price objective on the stock in a report on Tuesday, February 20th. CIBC boosted their target price on shares of Canadian Western Bank from C$32.00 to C$34.00 and gave the company a “neutral” rating in a research note on Wednesday, February 14th. Finally, Desjardins dropped their price target on shares of Canadian Western Bank from C$37.00 to C$35.00 and set a “buy” rating on the stock in a research note on Monday, March 4th.

Canadian Western Bank Stock Performance

Canadian Western Bank stock opened at C$26.52 on Thursday. Canadian Western Bank has a 1 year low of C$22.96 and a 1 year high of C$31.64. The firm’s 50-day moving average is C$27.83 and its 200-day moving average is C$28.82. The company has a market cap of C$2.56 billion, a P/E ratio of 8.04, a PEG ratio of 2.95 and a beta of 1.57.

Canadian Western Bank (TSE:CWB) last issued its earnings results on Friday, March 1st. The company reported C$0.93 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of C$0.91 by C$0.02. The firm had revenue of C$289.99 million for the quarter, compared to analysts’ expectations of C$301.10 million. Canadian Western Bank had a net margin of 31.97% and a return on equity of 8.58%. As a group, sell-side analysts predict that Canadian Western Bank will post 3.5601057 earnings per share for the current year.

Canadian Western Bank Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, March 21st. Investors of record on Thursday, March 7th were issued a dividend of $0.34 per share. The ex-dividend date of this dividend was Wednesday, March 6th. This represents a $1.36 annualized dividend and a yield of 5.13%. Canadian Western Bank’s payout ratio is 40.61%.

Insider Activity

In other news, Senior Officer Mark Stafford sold 1,708 shares of Canadian Western Bank stock in a transaction that occurred on Tuesday, April 9th. The shares were sold at an average price of C$27.94, for a total value of C$47,728.69. In related news, Senior Officer Mark Stafford sold 1,708 shares of the stock in a transaction on Tuesday, April 9th. The stock was sold at an average price of C$27.94, for a total value of C$47,728.69. Also, Senior Officer Supriya Anna Maria James sold 4,600 shares of the firm’s stock in a transaction that occurred on Tuesday, April 23rd. The stock was sold at an average price of C$27.00, for a total transaction of C$124,203.22. Insiders own 0.32% 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.