Canadian Western Bank (TSE:CWB) Shares Cross Above 200-Day Moving Average – What’s Next?

Shares of Canadian Western Bank (TSE:CWB) passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of C$41.01 and traded as high as C$57.01. Canadian Western Bank shares last traded at C$56.75, with a volume of 220,585 shares.

Wall Street Analyst Weigh In

A number of research firms have issued reports on CWB. CIBC boosted their price target on Canadian Western Bank from C$55.80 to C$60.30 and gave the company a “neutral” rating in a research note on Tuesday, September 3rd. Cibc World Mkts raised shares of Canadian Western Bank to a “hold” rating in a research report on Tuesday, September 3rd. Raymond James lowered Canadian Western Bank from a “moderate buy” rating to a “hold” rating and boosted their price target for the company from C$52.00 to C$54.00 in a report on Tuesday, September 3rd. Jefferies Financial Group raised their price objective on Canadian Western Bank from C$52.00 to C$57.00 and gave the stock a “hold” rating in a research note on Tuesday, September 3rd. Finally, Cormark lifted their price target on shares of Canadian Western Bank from C$46.00 to C$47.00 in a report on Tuesday, September 3rd. Six analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat, Canadian Western Bank has a consensus rating of “Moderate Buy” and an average target price of C$48.03.

Canadian Western Bank Trading Down 0.3 %

The stock has a 50-day simple moving average of C$52.83 and a two-hundred day simple moving average of C$41.42. The firm has a market capitalization of C$5.47 billion, a P/E ratio of 18.99, a price-to-earnings-growth ratio of 2.95 and a beta of 1.39.

Canadian Western Bank (TSE:CWB) last announced its earnings results on Friday, August 30th. The company reported C$0.60 earnings per share (EPS) for the quarter, missing the consensus estimate of C$0.87 by C($0.27). The company had revenue of C$298.47 million for the quarter, compared to the consensus estimate of C$296.88 million. Canadian Western Bank had a net margin of 29.23% and a return on equity of 7.51%. As a group, research analysts expect that Canadian Western Bank will post 3.656168 EPS for the current year.

Canadian Western Bank Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, September 26th. Investors of record on Thursday, September 12th were issued a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a dividend yield of 2.47%. The ex-dividend date of this dividend was Thursday, September 12th. Canadian Western Bank’s dividend payout ratio (DPR) is 46.98%.

Insider Activity at Canadian Western Bank

In other news, Senior Officer Trent Albert Erickson sold 3,900 shares of Canadian Western Bank stock in a transaction that occurred on Wednesday, September 4th. The shares were sold at an average price of C$51.42, for a total transaction of C$200,538.00. 0.46% of the stock is currently owned by insiders.

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.