Canadian Western Bank (TSE:CWB) Lifted to Outperform Market Weight at National Bank Financial

Canadian Western Bank (TSE:CWBGet Rating) was upgraded by equities researchers at National Bank Financial from a “sector perform market weight” rating to an “outperform market weight” rating in a research report issued on Sunday.

Several other brokerages also recently weighed in on CWB. BMO Capital Markets boosted their target price on shares of Canadian Western Bank from C$42.00 to C$42.50 in a research note on Monday, February 28th. National Bankshares raised shares of Canadian Western Bank from a “sector perform” rating to a “buy” rating and set a C$44.00 target price for the company in a research note on Monday. Scotiabank cut their target price on shares of Canadian Western Bank from C$48.00 to C$44.00 in a research note on Wednesday, April 13th. Barclays cut their target price 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 research note on Wednesday, May 11th. Finally, CIBC downgraded shares of Canadian Western Bank from an “outperform” rating to a “hold” rating and dropped their price objective for the company from C$45.00 to C$38.00 in a research note on Monday, April 11th. Three research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Buy” and an average target price of C$42.86.

TSE:CWB opened at C$32.22 on Friday. The company has a market capitalization of C$2.91 billion and a PE ratio of 8.50. 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 fifty day simple moving average of C$34.59 and a 200-day simple moving average of C$36.94.

Canadian Western Bank (TSE:CWBGet Rating) last released its quarterly earnings results on Friday, February 25th. The company reported C$0.99 earnings per share (EPS) for the quarter, topping the consensus estimate of C$0.95 by C$0.04. The firm had revenue of C$265.98 million for the quarter, compared to analyst estimates of C$268.45 million. On average, equities analysts forecast that Canadian Western Bank will post 4.2499999 EPS for the current year.

In other Canadian Western Bank news, Senior Officer Darrell Robert Jones sold 2,854 shares of the company’s stock in a transaction that occurred on Thursday, March 3rd. The stock was sold at an average price of C$37.60, for a total value of C$107,310.40. Following the completion of the transaction, the insider now owns 21,094 shares in the company, valued at approximately C$793,134.40. Also, Senior Officer Niall Boles sold 1,300 shares of the company’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 completion of the transaction, the insider now directly owns 32 shares in the company, valued at C$1,107.08. In the last 90 days, insiders sold 4,554 shares of company stock valued at $166,217.

Canadian Western Bank Company Profile (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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Analyst Recommendations for Canadian Western Bank (TSE:CWB)

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