Canadian Western Bank (TSE:CWB) Stock Passes Above Two Hundred Day Moving Average – Time to Sell?

Canadian Western Bank (TSE:CWB)’s stock price crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of C$53.08 and traded as high as C$59.43. Canadian Western Bank shares last traded at C$59.22, with a volume of 346,222 shares traded.

Analysts Set New Price Targets

CWB has been the topic of a number of recent research reports. Raymond James increased 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. Desjardins cut Canadian Western Bank from a “moderate buy” rating to a “hold” rating in a research report on Friday, December 20th. Scotiabank boosted their target price on shares of Canadian Western Bank from C$52.00 to C$62.00 in a research report on Monday, November 25th. BMO Capital Markets raised their price target on shares of Canadian Western Bank from C$52.00 to C$58.00 in a research report on Monday, November 18th. Finally, CIBC boosted their price objective on shares of Canadian Western Bank from C$60.30 to C$63.50 in a report on Tuesday, November 26th. Seven investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of C$54.83.

Canadian Western Bank Stock Performance

The firm’s fifty day simple moving average is C$58.61 and its 200 day simple moving average is C$53.08. The stock has a market capitalization of C$5.73 billion, a P/E ratio of 19.87, a price-to-earnings-growth 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.