Canadian Western Bank (TSE:CWB) Shares Pass Above Two Hundred Day Moving Average – Here’s What Happened

Canadian Western Bank (TSE:CWB) shares crossed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of C$53.92 and traded as high as C$59.00. Canadian Western Bank shares last traded at C$58.77, with a volume of 164,598 shares.

Wall Street Analysts Forecast Growth

Several research firms recently commented on CWB. Raymond James boosted their target price on Canadian Western Bank from C$54.00 to C$59.00 and gave the stock a “market perform” rating in a research note on Thursday, December 19th. Scotiabank upped their price objective on Canadian Western Bank from C$52.00 to C$62.00 in a research report on Monday, November 25th. BMO Capital Markets upped their price objective on Canadian Western Bank from C$52.00 to C$58.00 in a research report on Monday, November 18th. Royal Bank of Canada upped their price objective on Canadian Western Bank from C$52.00 to C$60.00 and gave the stock a “sector perform” rating in a research report on Thursday, December 19th. Finally, Desjardins cut Canadian Western Bank from a “moderate buy” rating to a “hold” rating in a research report on Friday, December 20th. Seven analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of C$54.83.

Canadian Western Bank Trading Up 0.4 %

The company has a 50 day simple moving average of C$58.82 and a 200 day simple moving average of C$53.99. The stock has a market capitalization of C$5.68 billion, a PE ratio of 19.72, a P/E/G ratio of 2.95 and a beta of 1.39.

Canadian Western Bank Company Profile

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.