Canadian Western Bank (TSE:CWB) Stock Price Expected to Rise, CIBC Analyst Says

Canadian Western Bank (TSE:CWB) had its price objective boosted by equities researchers at CIBC from C$60.30 to C$63.50 in a research report issued on Tuesday,BayStreet.CA reports. CIBC’s price objective points to a potential upside of 5.34% from the stock’s current price.

Other equities analysts have also issued reports about the company. Cormark boosted their target price on Canadian Western Bank from C$46.00 to C$47.00 in a research report on Tuesday, September 3rd. Cibc World Mkts upgraded shares of Canadian Western Bank to a “hold” rating in a report on Tuesday, September 3rd. Scotiabank increased their target price on shares of Canadian Western Bank from C$52.00 to C$62.00 in a report on Monday. Raymond James lowered shares of Canadian Western Bank from a “moderate buy” rating to a “hold” rating and boosted their price target for the company from C$52.00 to C$54.00 in a report on Tuesday, September 3rd. Finally, BMO Capital Markets raised their price objective on Canadian Western Bank from C$52.00 to C$58.00 in a research note on Monday, November 18th. Six analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of C$51.45.

Canadian Western Bank Price Performance

Shares of TSE CWB opened at C$60.28 on Tuesday. The company’s 50 day simple moving average is C$56.18 and its 200 day simple moving average is C$46.22. Canadian Western Bank has a fifty-two week low of C$24.66 and a fifty-two week high of C$60.35. The firm has a market capitalization of C$5.83 billion, a P/E ratio of 20.18, a P/E/G ratio of 2.95 and a beta of 1.39.

Canadian Western Bank (TSE:CWB) last posted its quarterly earnings results on Friday, August 30th. The company reported C$0.60 earnings per share for the quarter, missing analysts’ consensus estimates of C$0.87 by C($0.27). Canadian Western Bank had a net margin of 29.23% and a return on equity of 7.51%. The company had revenue of C$298.47 million during the quarter, compared to analyst estimates of C$296.88 million. Sell-side analysts expect that Canadian Western Bank will post 3.656168 EPS for the current fiscal year.

Insider Buying and Selling

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

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.