BMO Capital Markets Issues Positive Forecast for Canadian Western Bank (TSE:CWB) Stock Price

Canadian Western Bank (TSE:CWB) had its target price hoisted by BMO Capital Markets from C$52.00 to C$58.00 in a research report sent to investors on Monday morning,BayStreet.CA reports.

A number of other research firms also recently commented on CWB. Jefferies Financial Group increased their price objective on shares of Canadian Western Bank from C$52.00 to C$57.00 and gave the stock a “hold” rating in a research note on Tuesday, September 3rd. CIBC raised their price target on Canadian Western Bank from C$55.80 to C$60.30 and gave the company a “neutral” rating in a research note on Tuesday, September 3rd. Desjardins upped their price objective on Canadian Western Bank from C$53.00 to C$57.00 and gave the stock a “buy” rating in a research note on Tuesday, September 3rd. Cibc World Mkts raised shares of Canadian Western Bank to a “hold” rating in a research note on Tuesday, September 3rd. Finally, Royal Bank of Canada increased their price target on shares of Canadian Western Bank from C$51.00 to C$52.00 and gave the company a “sector perform” rating in a research note on Tuesday, September 3rd. Six analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of C$48.57.

Canadian Western Bank Price Performance

CWB stock opened at C$58.64 on Monday. The business has a 50-day moving average of C$55.32 and a 200-day moving average of C$44.97. Canadian Western Bank has a fifty-two week low of C$24.66 and a fifty-two week high of C$58.70. The stock has a market capitalization of C$5.67 billion, a P/E ratio of 19.68, a P/E/G ratio of 2.95 and a beta of 1.39.

Canadian Western Bank (TSE:CWB) last issued its quarterly earnings results 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 business had revenue of C$298.47 million for the quarter, compared to the consensus estimate of C$296.88 million. Canadian Western Bank had a return on equity of 7.51% and a net margin of 29.23%. Equities analysts expect that Canadian Western Bank will post 3.656168 EPS for the current year.

Canadian Western Bank Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, September 26th. Stockholders of record on Thursday, September 12th were paid a dividend of $0.35 per share. The ex-dividend date was Thursday, September 12th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 2.39%. Canadian Western Bank’s dividend payout ratio (DPR) is currently 46.98%.

Insider Buying and Selling

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