Canadian Western Bank (TSE:CWB – Get Rating) had its price target decreased by research analysts at CIBC from C$38.00 to C$34.00 in a note issued to investors on Tuesday, BayStreet.CA reports. CIBC’s target price would indicate a potential upside of 2.75% from the stock’s previous close.
A number of other brokerages have also recently issued reports on CWB. Barclays decreased their price objective on shares of Canadian Western Bank from C$44.00 to C$38.00 and set an “equal weight” rating for the company in a report on Wednesday, May 11th. Scotiabank dropped their price objective on shares of Canadian Western Bank from C$48.00 to C$44.00 in a report on Wednesday, April 13th. National Bankshares raised shares of Canadian Western Bank from a “sector perform” rating to a “buy” rating and set a C$44.00 price objective on the stock in a research note on Monday. BMO Capital Markets raised their price objective on shares of Canadian Western Bank from C$42.00 to C$42.50 in a report on Monday, February 28th. Finally, National Bank Financial upgraded shares of Canadian Western Bank from a “sector perform market weight” rating to an “outperform market weight” rating in a research note on Sunday. Three research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, Canadian Western Bank currently has a consensus rating of “Buy” and an average price target of C$42.50.
Shares of TSE CWB traded up C$0.87 during midday trading on Tuesday, reaching C$33.09. 159,380 shares of the company’s stock were exchanged, compared to its average volume of 291,339. Canadian Western Bank has a 52-week low of C$30.31 and a 52-week high of C$41.56. The stock has a market capitalization of C$2.98 billion and a PE ratio of 8.74. The business’s fifty day moving average price is C$34.59 and its two-hundred day moving average price is C$36.94.
In other news, Senior Officer Darrell Robert Jones sold 2,854 shares of the company’s stock in a transaction dated Thursday, March 3rd. The shares were sold at an average price of C$37.60, for a total transaction of C$107,310.40. Following the completion of the sale, the insider now owns 21,094 shares of the company’s stock, valued at approximately C$793,134.40. Also, Senior Officer Niall Boles sold 1,300 shares of the business’s stock in a transaction that occurred on Wednesday, April 20th. The shares were sold at an average price of C$34.60, for a total value of C$44,975.06. Following the transaction, the insider now owns 32 shares of the company’s stock, valued at C$1,107.08. In the last quarter, insiders sold 4,554 shares of company stock worth $166,217.
About Canadian Western Bank (Get Rating)
Canadian Western Bank provides personal and business banking products and services primarily in Western Canada. The company offers current, savings, cash management, US dollar, and chequing accounts, as well as organization, strata solution/condo, general trust, and trust fund investment accounts. It also offers commercial lending and real estate, and equipment financing and leasing products; loans and mortgages; secured and unsecured lines of credit; registered retirement savings plan; consolidation, vehicle, and recreation vehicle loans; and credit cards.
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