Canadian Western Bank (CWB) Hits New 1-Year High After Analyst Upgrade
Canadian Western Bank (TSE:CWB) reached a new 52-week high during mid-day trading on Monday after Laurentian raised their price target on the stock from C$36.00 to C$39.00. Laurentian currently has a buy rating on the stock. Canadian Western Bank traded as high as C$34.12 and last traded at C$34.12, with a volume of 162,312 shares. The stock had previously closed at C$33.71.
Several other analysts also recently weighed in on CWB. Scotiabank lifted their price target on shares of Canadian Western Bank from C$28.00 to C$30.00 and gave the company a “sector perform” rating in a research note on Monday, August 21st. Barclays PLC raised their price objective on Canadian Western Bank from C$28.00 to C$30.00 in a report on Friday, August 11th. TD Securities raised their price objective on Canadian Western Bank from C$32.00 to C$36.00 and gave the stock a “hold” rating in a report on Thursday. CIBC lifted their target price on Canadian Western Bank from C$31.00 to C$33.00 in a research report on Friday, September 1st. Finally, Canaccord Genuity lifted their target price on Canadian Western Bank from C$29.00 to C$30.00 in a research report on Friday, September 1st. Seven research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average target price of C$32.56.
The firm has a market cap of $3.02 billion and a PE ratio of 14.99. The firm has a 50-day moving average of $29.29 and a 200 day moving average of $27.92.
The firm also recently declared a quarterly dividend, which was paid on Friday, September 29th. Shareholders of record on Friday, September 15th were paid a $0.24 dividend. The ex-dividend date was Thursday, September 14th. This is a boost from Canadian Western Bank’s previous quarterly dividend of $0.22. This represents a $0.96 dividend on an annualized basis and a yield of 2.84%.
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About Canadian Western Bank
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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