Scotiabank Upgrades Canadian Western Bank (CWB) to Outperform
Canadian Western Bank (TSE:CWB) was upgraded by equities research analysts at Scotiabank from a “sector perform” rating to an “outperform” rating in a research report issued on Friday. The brokerage presently has a C$33.00 target price on the stock, up from their prior target price of C$30.00. Scotiabank’s price objective suggests a potential upside of 10.04% from the company’s current price.
A number of other brokerages also recently issued reports on CWB. National Bank Financial raised their price target on shares of Canadian Western Bank from C$28.00 to C$32.00 and gave the stock a “sector perform” rating in a report on Friday. CIBC raised their price target on shares of Canadian Western Bank from C$31.00 to C$33.00 in a report on Friday. Royal Bank Of Canada upgraded shares of Canadian Western Bank from a “sector perform” rating to an “outperform” rating and raised their price target for the stock from C$32.00 to C$35.00 in a report on Friday. BMO Capital Markets raised their price target on shares of Canadian Western Bank from C$28.00 to C$29.00 and gave the stock a “market perform” rating in a report on Friday. Finally, Canaccord Genuity raised their price target on shares of Canadian Western Bank from C$29.00 to C$30.00 in a report on Friday. Seven equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Canadian Western Bank has an average rating of “Hold” and a consensus target price of C$31.61.
Shares of Canadian Western Bank (TSE CWB) opened at 29.99 on Friday. The company has a market capitalization of $2.65 billion and a PE ratio of 13.70. The stock has a 50 day moving average price of $28.27 and a 200 day moving average price of $27.91. Canadian Western Bank has a one year low of $23.68 and a one year high of $32.29.
Canadian Western Bank (TSE:CWB) last announced its quarterly earnings results on Thursday, June 1st. The company reported $0.59 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.57 by $0.02. The business had revenue of $172.44 million during the quarter, compared to the consensus estimate of $169 million. Canadian Western Bank had a net margin of 29.86% and a return on equity of 9.00%. On average, equities research analysts predict that Canadian Western Bank will post $2.47 earnings per share for the current year.
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Canadian Western Bank Company Profile
Canadian Western Bank (CWB) is a Canada-based bank engaged in offering a range of financial services. The Bank specializes in mid-market commercial banking, real estate and construction financing, and equipment financing and leasing. The Bank offers financing solutions through CWB Equipment Financing, National Leasing, CWB Maxium Financial, CWB Franchise Finance and CWB Optimum Mortgage, trust services through Canadian Western Trust and wealth advisory services through CWB Wealth Management.
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