Canadian Western Bank (TSE:CWB) Reaches New 1-Year High at $43.95

Shares of Canadian Western Bank (TSE:CWB) hit a new 52-week high during trading on Wednesday . The company traded as high as C$43.95 and last traded at C$43.98, with a volume of 155347 shares traded. The stock had previously closed at C$43.35.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on CWB. Royal Bank of Canada downgraded shares of Canadian Western Bank from an “outperform” rating to a “sector perform” rating and dropped their target price for the stock from C$32.00 to C$28.00 in a research note on Monday, June 3rd. National Bankshares lowered their price target on shares of Canadian Western Bank from C$37.00 to C$30.00 and set an “outperform” rating for the company in a research report on Monday, June 3rd. BMO Capital Markets cut shares of Canadian Western Bank from an “outperform” rating to a “market perform” rating and upped their price target for the stock from C$35.00 to C$52.00 in a research report on Wednesday, June 12th. Jefferies Financial Group upped their price target on shares of Canadian Western Bank from C$28.00 to C$52.00 and gave the stock a “hold” rating in a research report on Thursday, June 13th. Finally, Scotiabank upped their price target on shares of Canadian Western Bank from C$30.00 to C$52.00 and gave the stock an “outperform” rating in a research report on Tuesday, June 18th. Four investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of C$40.22.

Canadian Western Bank Trading Up 1.2 %

The company has a market capitalization of C$4.24 billion, a price-to-earnings ratio of 13.14, a PEG ratio of 2.95 and a beta of 1.54. The firm’s 50 day simple moving average is C$31.39 and its 200-day simple moving average is C$29.78.

Canadian Western Bank (TSE:CWB) last announced its quarterly earnings data on Friday, May 31st. The company reported C$0.81 earnings per share (EPS) for the quarter, missing the consensus estimate of C$0.86 by C($0.05). Canadian Western Bank had a net margin of 31.97% and a return on equity of 8.58%. The firm had revenue of C$285.92 million during the quarter, compared to analyst estimates of C$290.33 million. As a group, sell-side analysts forecast that Canadian Western Bank will post 3.5933775 EPS for the current fiscal year.

Canadian Western Bank Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, June 20th. Stockholders of record on Thursday, June 6th were paid a dividend of $0.35 per share. The ex-dividend date of this dividend was Thursday, June 6th. This is a boost from Canadian Western Bank’s previous quarterly dividend of $0.34. This represents a $1.40 dividend on an annualized basis and a dividend yield of 3.19%. Canadian Western Bank’s dividend payout ratio is 40.61%.

Insider Activity at Canadian Western Bank

In related news, Senior Officer Mark Stafford sold 1,708 shares of the stock in a transaction dated 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 other Canadian Western Bank news, Senior Officer Mark Stafford sold 1,708 shares of the company’s stock in a transaction dated Tuesday, April 9th. The shares were sold at an average price of C$27.94, for a total value of C$47,728.69. Also, Senior Officer Trent Albert Erickson bought 4,312 shares of Canadian Western Bank stock in a transaction on Friday, June 14th. The stock was purchased at an average price of C$41.44 per share, for a total transaction of C$178,680.66. 0.32% of the stock is owned by corporate insiders.

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.