Canadian Western Bank (TSE:CWB) Hits New 52-Week High at $44.78

Shares of Canadian Western Bank (TSE:CWB) hit a new 52-week high during trading on Tuesday . The company traded as high as C$44.78 and last traded at C$44.43, with a volume of 118551 shares trading hands. The stock had previously closed at C$44.06.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the stock. BMO Capital Markets cut shares of Canadian Western Bank from an “outperform” rating to a “market perform” rating and boosted their target price for the company from C$35.00 to C$52.00 in a report on Wednesday, June 12th. CIBC lowered Canadian Western Bank from a “neutral” rating to a “tender” rating and lifted their target price for the company from C$30.00 to C$55.80 in a report on Tuesday, June 18th. Royal Bank of Canada lowered shares of Canadian Western Bank from an “outperform” rating to a “sector perform” rating and cut their price objective for the company from C$32.00 to C$28.00 in a research report on Monday, June 3rd. National Bankshares decreased their target price on shares of Canadian Western Bank from C$37.00 to C$30.00 and set an “outperform” rating on the stock in a report on Monday, June 3rd. Finally, Jefferies Financial Group raised their price target on shares of Canadian Western Bank from C$28.00 to C$52.00 and gave the company a “hold” rating in a report on Thursday, June 13th. Four equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of C$40.22.

Canadian Western Bank Stock Performance

The company has a market cap of C$4.34 billion, a P/E ratio of 13.62, a P/E/G ratio of 2.95 and a beta of 1.54. The stock has a 50-day moving average of C$33.87 and a two-hundred day moving average of C$30.45.

Canadian Western Bank (TSE:CWB) last announced its quarterly earnings data on Friday, May 31st. The company reported C$0.81 earnings per share for the quarter, missing analysts’ consensus estimates of C$0.86 by C($0.05). Canadian Western Bank had a return on equity of 8.58% and a net margin of 31.97%. The business had revenue of C$285.92 million during the quarter, compared to the consensus estimate 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 disclosed 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. 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 3.11%. The ex-dividend date was Thursday, June 6th. Canadian Western Bank’s dividend payout ratio (DPR) is 40.61%.

Insider Transactions at Canadian Western Bank

In other news, Senior Officer Trent Albert Erickson bought 4,312 shares of the firm’s stock in a transaction that occurred on Friday, June 14th. The shares were bought at an average cost of C$41.44 per share, with a total value of C$178,680.66. In related news, Senior Officer Supriya Anna Maria James sold 4,600 shares of Canadian Western Bank stock in a transaction on Tuesday, April 23rd. The shares were sold at an average price of C$27.00, for a total value of C$124,203.22. Also, Senior Officer Trent Albert Erickson acquired 4,312 shares of the firm’s stock in a transaction on Friday, June 14th. The stock was bought at an average price of C$41.44 per share, with a total value of C$178,680.66. Company 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.