Canadian Western Bank (TSE:CWB) Stock Crosses Above 200-Day Moving Average – Should You Sell?

Canadian Western Bank (TSE:CWB)’s stock price crossed above its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of C$48.73 and traded as high as C$58.52. Canadian Western Bank shares last traded at C$58.02, with a volume of 273,639 shares trading hands.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the stock. Raymond James downgraded shares of Canadian Western Bank from a “moderate buy” rating to a “hold” rating and increased their price target for the stock from C$52.00 to C$54.00 in a report on Tuesday, September 3rd. Cormark increased their target price on shares of Canadian Western Bank from C$46.00 to C$47.00 in a research note on Tuesday, September 3rd. Royal Bank of Canada lifted their price target on Canadian Western Bank from C$51.00 to C$52.00 and gave the company a “sector perform” rating in a research note on Tuesday, September 3rd. CIBC upped their price target on Canadian Western Bank from C$60.30 to C$63.50 in a report on Tuesday, November 26th. Finally, BMO Capital Markets raised their price objective on Canadian Western Bank from C$52.00 to C$58.00 in a report on Monday, November 18th. Six research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of C$53.39.

Canadian Western Bank Stock Performance

The firm has a market capitalization of C$5.61 billion, a PE ratio of 19.47, a price-to-earnings-growth ratio of 2.95 and a beta of 1.39. The stock’s 50 day simple moving average is C$57.50 and its two-hundred day simple moving average is C$48.88.

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.