Canadian Western Bank (TSE:CWB) Hits New 52-Week High – Time to Buy?

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

Analysts Set New Price Targets

CWB has been the subject of several research analyst reports. Desjardins lowered Canadian Western Bank from a “moderate buy” rating to a “hold” rating in a research note on Friday, December 20th. Raymond James increased their price target on shares of Canadian Western Bank from C$54.00 to C$59.00 and gave the company a “market perform” rating in a research report on Thursday, December 19th. Royal Bank of Canada upped their price objective on shares of Canadian Western Bank from C$52.00 to C$60.00 and gave the company a “sector perform” rating in a research note on Thursday, December 19th. Scotiabank lifted their target price on shares of Canadian Western Bank from C$52.00 to C$62.00 in a research report on Monday, November 25th. Finally, CIBC boosted their price target on shares of Canadian Western Bank from C$60.30 to C$63.50 in a research note on Tuesday, November 26th. Seven analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat, Canadian Western Bank presently has an average rating of “Hold” and an average price target of C$54.83.

Canadian Western Bank Stock Down 1.8 %

The company has a market capitalization of C$5.59 billion, a PE ratio of 19.40, a price-to-earnings-growth ratio of 2.95 and a beta of 1.39. The stock’s fifty day moving average price is C$58.73 and its two-hundred day moving average price is C$53.46.

About Canadian Western Bank

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.