Canadian Western Bank (TSE:CWB) Stock Price Down 5.9% – Time to Sell?

Shares of Canadian Western Bank (TSE:CWB) were down 5.9% during trading on Friday . The stock traded as low as C$55.26 and last traded at C$55.26. Approximately 298,055 shares traded hands during mid-day trading, a decline of 16% from the average daily volume of 355,089 shares. The stock had previously closed at C$58.75.

Wall Street Analysts Forecast Growth

Several analysts recently commented on CWB shares. Jefferies Financial Group upped their price target on shares of Canadian Western Bank from C$52.00 to C$57.00 and gave the company a “hold” rating in a research report on Tuesday, September 3rd. CIBC upped their price target on shares of Canadian Western Bank from C$60.30 to C$63.50 in a research note on Tuesday, November 26th. Raymond James cut shares of Canadian Western Bank from a “moderate buy” rating to a “hold” rating and upped their price target for the stock from C$52.00 to C$54.00 in a research note on Tuesday, September 3rd. BMO Capital Markets increased their price objective on shares of Canadian Western Bank from C$52.00 to C$58.00 in a research note on Monday, November 18th. Finally, Desjardins increased their price objective on shares of Canadian Western Bank from C$53.00 to C$57.00 and gave the company a “buy” rating in a research note on Tuesday, September 3rd. Six equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of C$51.45.

Canadian Western Bank Stock Performance

The firm has a market capitalization of C$5.16 billion, a PE ratio of 18.54, a price-to-earnings-growth ratio of 2.95 and a beta of 1.39. The company’s fifty day moving average price is C$57.02 and its two-hundred day moving average price is C$47.47.

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.