Scotiabank Issues Positive Forecast for Canadian Western Bank (TSE:CWB) Stock Price

Canadian Western Bank (TSE:CWB) had its price target increased by analysts at Scotiabank from C$52.00 to C$62.00 in a research note issued to investors on Monday,BayStreet.CA reports. Scotiabank’s price target would suggest a potential upside of 3.89% from the stock’s current price.

Several other equities analysts have also recently issued reports on the company. BMO Capital Markets lifted their price objective on Canadian Western Bank from C$52.00 to C$58.00 in a research note on Monday, November 18th. Royal Bank of Canada boosted 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 report on Tuesday, September 3rd. CIBC upped their price objective on Canadian Western Bank from C$55.80 to C$60.30 and gave the stock a “neutral” rating in a report on Tuesday, September 3rd. Raymond James lowered Canadian Western Bank from a “moderate buy” rating to a “hold” rating and upped their price objective for the stock from C$52.00 to C$54.00 in a report on Tuesday, September 3rd. Finally, Cormark boosted their target price on Canadian Western Bank from C$46.00 to C$47.00 in a research report on Tuesday, September 3rd. Six investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of C$51.13.

Canadian Western Bank Trading Down 0.4 %

CWB stock traded down C$0.23 during midday trading on Monday, reaching C$59.68. The stock had a trading volume of 77,029 shares, compared to its average volume of 355,904. The company’s fifty day simple moving average is C$55.91 and its 200 day simple moving average is C$46.03. The company has a market cap of C$5.77 billion, a price-to-earnings ratio of 20.06, a price-to-earnings-growth 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$60.35.

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

Insider Buying and Selling

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

Canadian Western Bank Company Profile

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.