Canadian Western Bank (TSE:CWB) has been given an average recommendation of “Buy” by the fourteen ratings firms that are currently covering the company, Marketbeat.com reports. Three investment analysts have rated the stock with a hold recommendation and four have given a buy recommendation to the company. The average twelve-month price target among brokerages that have updated their coverage on the stock in the last year is C$39.36.
CWB has been the topic of a number of recent research reports. TD Securities raised their price objective on shares of Canadian Western Bank from C$40.00 to C$42.00 and gave the company a “hold” rating in a research note on Friday, June 8th. Barclays increased their target price on shares of Canadian Western Bank from C$36.00 to C$37.00 in a report on Friday, March 9th. CIBC lowered their target price on shares of Canadian Western Bank from C$42.00 to C$40.00 in a report on Friday, March 9th. Royal Bank of Canada lowered their target price on shares of Canadian Western Bank from C$40.00 to C$39.00 and set an “outperform” rating for the company in a report on Friday, March 9th. Finally, Eight Capital increased their target price on shares of Canadian Western Bank from C$42.00 to C$43.00 in a report on Friday, June 8th.
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In other Canadian Western Bank news, Director Robert L. Phillips bought 860 shares of the business’s stock in a transaction on Tuesday, April 10th. The stock was purchased at an average price of C$33.30 per share, for a total transaction of C$28,638.00. Also, insider James Jeffrey Bowling sold 1,500 shares of the stock in a transaction dated Monday, June 11th. The stock was sold at an average price of C$37.20, for a total transaction of C$55,800.00. Insiders have sold 7,147 shares of company stock valued at $251,753 in the last quarter.
Shares of Canadian Western Bank stock traded down C$0.51 during trading hours on Monday, reaching C$35.96. The company’s stock had a trading volume of 204,200 shares, compared to its average volume of 279,414. Canadian Western Bank has a one year low of C$26.37 and a one year high of C$40.83.
Canadian Western Bank (TSE:CWB) last released its quarterly earnings data on Thursday, June 7th. The company reported C$0.73 earnings per share for the quarter, beating analysts’ consensus estimates of C$0.72 by C$0.01. Canadian Western Bank had a net margin of 33.13% and a return on equity of 11.23%. The firm had revenue of C$196.59 million for the quarter, compared to analyst estimates of C$191.40 million.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 28th. Shareholders of record on Friday, June 15th will be given a dividend of $0.25 per share. The ex-dividend date is Thursday, June 14th. This represents a $1.00 dividend on an annualized basis and a yield of 2.78%.
About Canadian Western Bank
Canadian Western Bank provides personal and business banking products and services primarily in Western Canada. The company offers current, savings, cash management, US dollar, senior, chequing, youth, and student accounts, as well as specialized accounts, including corporate and commercial, organization, strata solution/condo, general trust, and trust fund investment accounts.