Canadian Western Bank (TSE:CWB) Given New C$57.00 Price Target at Desjardins

Canadian Western Bank (TSE:CWB) had its price target lifted by Desjardins from C$53.00 to C$57.00 in a report published on Tuesday, BayStreet.CA reports. Desjardins currently has a buy rating on the stock.

A number of other equities research analysts have also recently commented on CWB. BMO Capital Markets cut shares of Canadian Western Bank from an outperform rating to a market perform rating and raised their price objective for the stock from C$35.00 to C$52.00 in a research note on Wednesday, June 12th. National Bankshares cut their price target on Canadian Western Bank from C$37.00 to C$30.00 and set an outperform rating for the company in a research note on Monday, June 3rd. Jefferies Financial Group increased their price target on Canadian Western Bank from C$52.00 to C$57.00 and gave the stock a hold rating in a research report on Tuesday. Scotiabank boosted their price objective on Canadian Western Bank from C$30.00 to C$52.00 and gave the company an outperform rating in a research report on Tuesday, June 18th. Finally, Royal Bank of Canada increased their target price on Canadian Western Bank from C$51.00 to C$52.00 and gave the company a sector perform rating in a research report on Tuesday. Five analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of Moderate Buy and an average price target of C$44.10.

Canadian Western Bank Stock Down 0.1 %

Shares of CWB opened at C$51.43 on Tuesday. The company has a market capitalization of C$4.97 billion, a price-to-earnings ratio of 15.31, a PEG ratio of 2.95 and a beta of 1.39. Canadian Western Bank has a 52 week low of C$24.66 and a 52 week high of C$52.80. The stock’s 50-day moving average price is C$46.94 and its 200-day moving average price is C$35.30.

Canadian Western Bank Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, September 26th. Stockholders of record on Thursday, September 12th will be issued a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a dividend yield of 2.72%. The ex-dividend date is Thursday, September 12th. Canadian Western Bank’s dividend payout ratio is currently 41.67%.

Insider Activity at Canadian Western Bank

In related news, Senior Officer Trent Albert Erickson purchased 4,312 shares of Canadian Western Bank stock in a transaction dated Friday, June 14th. The shares were acquired at an average price of C$41.44 per share, for a total transaction of C$178,680.66. In related news, Senior Officer Jenny Siman sold 1,000 shares of the firm’s stock in a transaction dated Monday, July 22nd. The stock was sold at an average price of C$46.05, for a total transaction of C$46,050.00. Also, Senior Officer Trent Albert Erickson acquired 4,312 shares of Canadian Western Bank stock in a transaction that occurred on Friday, June 14th. The stock was bought at an average price of C$41.44 per share, for a total transaction of C$178,680.66. Insiders own 0.46% of the company’s stock.

About Canadian Western Bank

Canadian Western Bank provides personal and business banking products and services in Western Canada. The company offers current, savings, US dollar, chequing, flex notice, organization, business trust, and trust fund investment accounts. It also offers commercial lending and real estate, equipment financing and leasing, aviation financing, and dealership financing products; agriculture lending products and AgriInvest savings account; variable and fixed rate mortgages; line of credit; registered retirement savings plan, consolidation, and vehicle loans; and credit cards.