Canadian Western Bank (TSE:CWB) Price Target Lowered to C$36.00 at Barclays

Canadian Western Bank (TSE:CWBGet Rating) had its target price reduced by equities researchers at Barclays to C$36.00 in a note issued to investors on Monday, Stock Target Advisor reports. The brokerage presently has an “equal weight” rating on the stock. Barclays‘s target price would indicate a potential upside of 19.92% from the company’s current price.

A number of other brokerages also recently issued reports on CWB. Credit Suisse Group initiated coverage on Canadian Western Bank in a research report on Friday, May 20th. They issued a “hold” rating and a C$35.00 price objective on the stock. CIBC lowered their price objective on Canadian Western Bank from C$38.00 to C$34.00 in a research report on Tuesday, May 17th. TD Securities increased their price objective on Canadian Western Bank from C$43.00 to C$47.00 in a research report on Tuesday, February 15th. 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, May 16th. Finally, CSFB set a C$35.00 price objective on Canadian Western Bank and gave the stock a “neutral” rating in a research report on Friday, May 20th. Five investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus target price of C$40.50.

CWB stock opened at C$30.02 on Monday. The firm has a market cap of C$2.71 billion and a PE ratio of 8.05. The business has a 50 day moving average of C$33.79 and a 200-day moving average of C$36.41. Canadian Western Bank has a 12-month low of C$30.00 and a 12-month high of C$41.56.

Canadian Western Bank (TSE:CWBGet Rating) last posted its quarterly earnings results on Friday, February 25th. The company reported C$0.99 EPS for the quarter, topping analysts’ consensus estimates of C$0.95 by C$0.04. The company had revenue of C$265.98 million during the quarter, compared to the consensus estimate of C$268.45 million. On average, equities research analysts anticipate that Canadian Western Bank will post 4.23 earnings per share for the current year.

In related news, Senior Officer Niall Boles sold 1,300 shares of the firm’s stock in a transaction dated Wednesday, April 20th. The stock was sold at an average price of C$34.60, for a total value of C$44,975.06. Following the sale, the insider now directly owns 32 shares of the company’s stock, valued at C$1,107.08. Also, Senior Officer Darrell Robert Jones sold 2,854 shares of Canadian Western Bank stock in a transaction that occurred on 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 directly owns 21,094 shares in the company, valued at C$793,134.40. Insiders have sold 4,554 shares of company stock worth $166,217 over the last ninety days.

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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