Canadian Western Bank (TSE:CWB) Price Target Raised to C$44.00 at TD Securities

Canadian Western Bank (TSE:CWB) had its price objective hoisted by TD Securities from C$42.00 to C$44.00 in a report released on Tuesday morning, BayStreet.CA reports.

A number of other analysts have also recently weighed in on the stock. Credit Suisse Group raised their target price on shares of Canadian Western Bank to C$45.00 and gave the stock a sector peform rating in a report on Wednesday, September 1st. Scotiabank upped their price target on shares of Canadian Western Bank from C$42.00 to C$43.00 and gave the company an outperform rating in a research report on Monday, August 30th. Raymond James upgraded shares of Canadian Western Bank from a market perform rating to an outperform rating and upped their price target for the company from C$39.25 to C$41.00 in a research report on Monday, September 13th. National Bank Financial upped their price target on shares of Canadian Western Bank from C$40.00 to C$41.00 and gave the company a sector perform rating in a research report on Monday, August 30th. Finally, CIBC upped their price target on shares of Canadian Western Bank from C$44.00 to C$46.00 in a research report on Monday. Four research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of Buy and a consensus price target of C$41.58.

Canadian Western Bank stock opened at C$39.65 on Tuesday. The firm has a 50 day simple moving average of C$38.42 and a 200-day simple moving average of C$36.22. The stock has a market capitalization of C$3.49 billion and a PE ratio of 11.49. Canadian Western Bank has a 12-month low of C$27.99 and a 12-month high of C$41.56.

Canadian Western Bank (TSE:CWB) last posted its quarterly earnings data on Friday, August 27th. The company reported C$1.01 earnings per share (EPS) for the quarter, beating the consensus estimate of C$0.86 by C$0.15. The company had revenue of C$263.22 million during the quarter, compared to the consensus estimate of C$256.15 million. As a group, equities research analysts forecast that Canadian Western Bank will post 3.8203334 earnings per share for the current year.

In related news, Senior Officer Patrick Gallagher sold 1,930 shares of the firm’s stock in a transaction on Wednesday, October 13th. The shares were sold at an average price of C$38.57, for a total value of C$74,440.10. Following the transaction, the insider now directly owns 4,140 shares in the company, valued at approximately C$159,679.80. Also, Senior Officer James Jeffrey Bowling sold 2,000 shares of the firm’s stock in a transaction on Tuesday, August 31st. The shares were sold at an average price of C$37.01, for a total transaction of C$74,024.00. Following the completion of the transaction, the insider now owns 2,559 shares in the company, valued at C$94,713.71. In the last 90 days, insiders have sold 12,205 shares of company stock worth $473,779.

Canadian Western Bank Company Profile

Canadian Western Bank provides personal and business banking products and services primarily in Western Canada. The company offers current, savings, cash management, US dollar, and chequing accounts, as well as organization, strata solution/condo, general trust, and trust fund investment accounts. It also offers commercial lending and real estate, and equipment financing and leasing products; loans and mortgages; secured and unsecured lines of credit; registered retirement savings plan; consolidation, vehicle, and recreation vehicle loans; and credit cards.

Read More: Price to Earnings Ratio (PE)

Analyst Recommendations for Canadian Western Bank (TSE:CWB)

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