Scotiabank Issues Positive Forecast for Canadian Western Bank (TSE:CWB) Stock Price

Canadian Western Bank (TSE:CWB) had its price target boosted by Scotiabank from C$52.00 to C$62.00 in a report released on Monday,BayStreet.CA reports.

Several other analysts have also recently issued reports on the company. Raymond James cut Canadian Western Bank from a “moderate buy” rating to a “hold” rating and upped their price objective for the company from C$52.00 to C$54.00 in a research note on Tuesday, September 3rd. Desjardins upped their price target on Canadian Western Bank from C$53.00 to C$57.00 and gave the company a “buy” rating in a research report on Tuesday, September 3rd. Cormark lifted their price objective on shares of Canadian Western Bank from C$46.00 to C$47.00 in a report on Tuesday, September 3rd. Jefferies Financial Group increased their target price on shares of Canadian Western Bank from C$52.00 to C$57.00 and gave the stock a “hold” rating in a report on Tuesday, September 3rd. Finally, BMO Capital Markets lifted their price target on shares of Canadian Western Bank from C$52.00 to C$58.00 in a report on Monday, November 18th. Six research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat, Canadian Western Bank presently has a consensus rating of “Hold” and a consensus target price of C$51.13.

Canadian Western Bank Stock Performance

Shares of CWB opened at C$59.72 on Monday. The stock has a 50-day moving average price of C$56.06 and a 200 day moving average price of C$46.12. Canadian Western Bank has a one year low of C$24.66 and a one year high of C$60.35. The company has a market capitalization of C$5.77 billion, a P/E ratio of 20.04, a P/E/G ratio of 2.95 and a beta of 1.39.

Canadian Western Bank (TSE:CWB) last announced its quarterly earnings data on Friday, August 30th. The company reported C$0.60 earnings per share 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 analyst estimates of C$296.88 million. Canadian Western Bank had a return on equity of 7.51% and a net margin of 29.23%. As a group, equities research analysts forecast that Canadian Western Bank will post 3.656168 earnings per share for the current fiscal year.

Canadian Western Bank Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 26th. Investors of record on Thursday, September 12th were issued a $0.35 dividend. This represents a $1.40 annualized dividend and a yield of 2.34%. The ex-dividend date was Thursday, September 12th. Canadian Western Bank’s payout ratio is currently 46.98%.

Insider Activity at Canadian Western Bank

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