Canadian Western Bank (TSE:CWB) Stock Rating Upgraded by National Bank Financial

Canadian Western Bank (TSE:CWB – Get Rating) was upgraded by research analysts at National Bank Financial from a “sector perform market weight” rating to an “outperform market weight” rating in a research report issued to clients and investors on Sunday.

A number of other brokerages have also weighed in on CWB. National Bankshares upgraded 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 report on Monday. TD Securities boosted their price objective on Canadian Western Bank from C$43.00 to C$47.00 in a research report on Tuesday, February 15th. Raymond James boosted their price objective on Canadian Western Bank from C$41.00 to C$43.00 and gave the stock an “outperform” rating in a research report on Monday, February 28th. CIBC lowered Canadian Western Bank from an “outperform” rating to a “hold” rating and reduced their price objective for the stock from C$45.00 to C$38.00 in a research report on Monday, April 11th. Finally, Barclays reduced their price objective on Canadian Western Bank from C$44.00 to C$38.00 and set an “equal weight” rating on the stock in a research report on Wednesday, May 11th. Three investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Buy” and an average price target of C$42.86.

Shares of CWB opened at C$32.22 on Friday. Canadian Western Bank has a 52-week low of C$30.31 and a 52-week high of C$41.56. The business’s fifty day moving average is C$34.59 and its 200-day moving average is C$36.94. The firm has a market cap of C$2.91 billion and a price-to-earnings ratio of 8.50.

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

In related news, Senior Officer Niall Boles sold 1,300 shares of the company’s stock in a transaction dated Wednesday, April 20th. The stock was sold at an average price of C$34.60, for a total transaction of C$44,975.06. Following the sale, the insider now owns 32 shares in the company, valued at approximately C$1,107.08. Also, 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 value of C$107,310.40. Following the sale, the insider now owns 21,094 shares in the company, valued at approximately C$793,134.40. Insiders sold a total of 4,554 shares of company stock worth $166,217 in the last quarter.

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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