Canadian Western Bank (TSE:CWB) Price Target Raised to C$58.00

Canadian Western Bank (TSE:CWB) had its price objective hoisted by equities researchers at BMO Capital Markets from C$52.00 to C$58.00 in a research report issued on Monday,BayStreet.CA reports. BMO Capital Markets’ target price points to a potential downside of 0.96% from the company’s current price.

A number of other analysts also recently commented on the company. Raymond James downgraded Canadian Western Bank from a “moderate buy” rating to a “hold” rating and raised their price objective for the stock from C$52.00 to C$54.00 in a research report on Tuesday, September 3rd. Royal Bank of Canada lifted their price objective on Canadian Western Bank from C$51.00 to C$52.00 and gave the stock a “sector perform” rating in a research note on Tuesday, September 3rd. Desjardins lifted their target price on Canadian Western Bank from C$53.00 to C$57.00 and gave the stock a “buy” rating in a report on Tuesday, September 3rd. Cormark boosted their price target on Canadian Western Bank from C$46.00 to C$47.00 in a report on Tuesday, September 3rd. Finally, Jefferies Financial Group boosted their price target on Canadian Western Bank from C$52.00 to C$57.00 and gave the company a “hold” rating in a report on Tuesday, September 3rd. Six analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of C$48.57.

Canadian Western Bank Price Performance

Shares of CWB stock traded up C$0.63 on Monday, hitting C$58.56. 131,525 shares of the stock traded hands, compared to its average volume of 358,835. The company has a market capitalization of C$5.66 billion, a PE ratio of 19.65, a PEG ratio of 2.95 and a beta of 1.39. The company’s fifty day moving average is C$55.17 and its 200 day moving average is C$44.87. Canadian Western Bank has a 1-year low of C$24.66 and a 1-year high of C$58.70.

Canadian Western Bank (TSE:CWB) last announced its earnings results on Friday, August 30th. The company reported C$0.60 EPS for the quarter, missing the consensus estimate of C$0.87 by C($0.27). The company had revenue of C$298.47 million for the quarter, compared to analysts’ expectations of C$296.88 million. Canadian Western Bank had a net margin of 29.23% and a return on equity of 7.51%. As a group, equities research analysts expect that Canadian Western Bank will post 3.656168 EPS for the current year.

Insiders Place Their Bets

In related news, Senior Officer Trent Albert Erickson sold 3,900 shares of the stock in a transaction on Wednesday, September 4th. The stock was sold at an average price of C$51.42, for a total value of C$200,538.00. Corporate insiders own 0.46% of the company’s stock.

Canadian Western Bank Company Profile

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.