Canadian Western Bank (TSE: CWB – Get Appraised) received a CA$35.00 price target from CSFB equity analysts in a research report released Friday to clients and investors, BayStreet.CA reports. The brokerage currently has a “neutral” rating on the stock. CSFB’s price target indicates upside potential of 9.72% from the stock’s previous close.
The CWB has been the subject of a number of other reports. TD Securities raised its price target on Canadian Western Bank from C$43.00 to C$47.00 in a Tuesday, February 15 research note. In a Sunday, May 15 research note, National Bank Financial upgraded Canadian Western Bank from a “market-weighted sector yield” rating to an “above-market weighted” rating. BMO Capital Markets raised its price target on Canadian Western Bank from C$42.00 to C$42.50 in a Monday, February 28 research note. National Bankshares upgraded Canadian Western Bank from an “industry yield” rating to a “buy” rating and set a C$44.00 price target for the company in a research note on Monday. Finally, Barclays lowered its price target on Canadian Western Bank from CA$44.00 to CA$38.00 and set an “equal weight” rating for the company in a Wednesday May 11 research note. Four analysts rated the stock with a hold rating and six gave the company a buy rating. According to data from MarketBeat, the company has a consensus rating of “Buy” and an average price target of C$41.59.
Shares of TSE:CWB traded at C$0.26 midday on Friday, hitting C$31.90. 110,392 shares were traded, against an average volume of 289,559. The company has a market capitalization of C$2.88 billion and a P/E ratio of 8.43. Canadian Western Bank has a 1-year low of C$30.31 and a 1-year high of C$41.56. The stock’s 50-day simple moving average is C$34.38 and its 200-day simple moving average is C$36.82.
Canadian Western Bank (TSE: CWB – Get Rating) last released quarterly earnings data on Friday, February 25. The company reported earnings per share (EPS) of C$0.99 for the quarter, beating analyst consensus estimates of C$0.95 by C$0.04. The company posted revenue of C$265.98 million for the quarter, compared to a consensus estimate of C$268.45 million. As a group, research analysts expect Canadian Western Bank to post EPS of 4.2261048 for the current fiscal year.
In related news, senior officer Darrell Robert Jones sold 2,854 shares of Canadian Western Bank in a trade that took place on Thursday, March 3. The stock was sold at an average price of CA$37.60, for a total transaction of CA$107,310.40. Following the completion of the sale, the insider now directly owns 21,094 shares of the company, valued at approximately C$793,134.40. Additionally, senior officer Niall Boles sold 1,300 shares of Canadian Western Bank in a trade that took place on Wednesday, April 20. The stock was sold at an average price of C$34.60, for a total value of C$44,975.06. As a result of the sale, the insider now directly owns 32 shares of the company, valued at C$1,107.08. In the past ninety days, insiders have sold 4,554 shares of the company valued at $166,217.
About Canadian Western Bank (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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