Canadian Western Bank (OTCMKTS:CBWBF) Stock Price Breaks Below 50-Day Moving Average of $20.81

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Canadian Western Bank (OTCMKTS:CBWBF – Get Rating) broke below its 50-day moving average during Friday’s session. The stock has a fifty-day moving average of $20.81 and is trading as low as $20.42. Shares of Canadian Western Bank last traded at $20.42, with volume of 110 shares.

Analyst upgrades and downgrades

Several equity research analysts have recently commented on the stock. Scotiabank cut its price target on Canadian Western Bank shares from C$48.00 to C$44.00 in a Wednesday, April 13 report. Credit Suisse Group cut its price target on Canadian Western Bank shares from C$35.00 to C$33.00 in a report released Tuesday, May 31. CIBC cut its price target on Canadian Western Bank shares from C$34.00 to C$32.00 in a report released Tuesday, May 31. Desjardins cut its price target on Canadian Western Bank shares from C$44.00 to C$38.00 in a report released Tuesday, May 31. Finally, National Bank Financial upgraded the shares of Canadian Western Bank from an “outperforming sector” rating to an “outperforming” rating in a report published on Monday, May 16. Three investment analysts gave the stock a hold rating and six gave the company a buy rating. According to MarketBeat.com, the stock currently has a “moderate buy” consensus rating and an average target price of $39.50.

Canadian Western Bank trades up 1.7%

The company’s 50-day moving average price is $20.81 and its two-hundred-day moving average price is $25.71.

Canadian Western Bank Corporate Profile

(Get a rating)

Canadian Western Bank provides banking products and services to individuals and businesses primarily in Western Canada. The company offers checking, savings, cash management, US dollar and checking accounts, as well as organizational, strata/condo solution, general trust and investment fund trust accounts. It also offers commercial loans and real estate, as well as equipment financing and leasing products; loans and mortgages; secured and unsecured lines of credit; registered retirement savings plan; consolidation loans, vehicles and recreational vehicles; and credit cards.

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