Canadian Western Bank (TSE:CWB) Price Target Cut to C$33.00

Canadian Western Bank (TSE:CWB) had its price objective lowered by Desjardins from C$35.00 to C$33.00 in a research note published on Monday, BayStreet.CA reports. The brokerage currently has a buy rating on the stock.

A number of other research analysts have also recently issued reports on CWB. Royal Bank of Canada reduced their price objective on Canadian Western Bank from C$34.00 to C$32.00 and set an outperform rating on the stock in a research note on Monday, March 4th. CIBC raised their target price on Canadian Western Bank from C$32.00 to C$34.00 and gave the stock a neutral rating in a research note on Wednesday, February 14th. Scotiabank raised Canadian Western Bank from a sector perform rating to an outperform rating and set a C$32.00 target price on the stock in a research note on Tuesday, February 20th. Finally, Veritas Investment Research reissued a buy rating on shares of Canadian Western Bank in a research note on Monday, March 4th. Two equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to MarketBeat, the company presently has an average rating of Moderate Buy and an average target price of C$33.55.

Canadian Western Bank Price Performance

Canadian Western Bank stock opened at C$27.29 on Monday. Canadian Western Bank has a one year low of C$22.96 and a one year high of C$31.64. The business has a fifty day moving average price of C$27.49 and a 200-day moving average price of C$28.76. The firm has a market capitalization of C$2.63 billion, a P/E ratio of 8.27, a PEG ratio of 2.95 and a beta of 1.54.

Canadian Western Bank (TSE:CWB) last released its quarterly earnings results on Friday, March 1st. The company reported C$0.93 earnings per share for the quarter, beating analysts’ consensus estimates of C$0.91 by C$0.02. Canadian Western Bank had a return on equity of 8.58% and a net margin of 31.97%. The business had revenue of C$289.99 million for the quarter, compared to the consensus estimate of C$301.10 million. Sell-side analysts expect that Canadian Western Bank will post 3.5834464 earnings per share for the current fiscal year.

Canadian Western Bank Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, March 21st. Shareholders of record on Thursday, March 7th were paid a $0.34 dividend. The ex-dividend date was Wednesday, March 6th. This represents a $1.36 dividend on an annualized basis and a yield of 4.98%. Canadian Western Bank’s dividend payout ratio is currently 40.61%.

Insiders Place Their Bets

In other Canadian Western Bank news, Senior Officer Supriya Anna Maria James sold 4,600 shares of the company’s stock in a transaction dated Tuesday, April 23rd. The shares were sold at an average price of C$27.00, for a total value of C$124,203.22. In other news, Senior Officer Mark Stafford sold 1,708 shares of the 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 transaction 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 shares were 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.

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.