Royal Bank of Canada Forecasts Strong Price Appreciation for Canadian Western Bank (TSE:CWB) Stock

Canadian Western Bank (TSE:CWB) had its price target boosted by stock analysts at Royal Bank of Canada from C$52.00 to C$60.00 in a research note issued to investors on Thursday,BayStreet.CA reports. The brokerage presently has a “sector perform” rating on the stock. Royal Bank of Canada’s price objective points to a potential upside of 6.40% from the company’s previous close.

CWB has been the subject of several other reports. Jefferies Financial Group upped their target price on shares of 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. CIBC increased their target price on Canadian Western Bank from C$60.30 to C$63.50 in a research note on Tuesday, November 26th. BMO Capital Markets upped their price target on Canadian Western Bank from C$52.00 to C$58.00 in a report on Monday, November 18th. Desjardins upped their target price on shares of Canadian Western Bank from C$53.00 to C$57.00 and gave the company a “buy” rating in a research note on Tuesday, September 3rd. Finally, Raymond James boosted their target price on shares of Canadian Western Bank from C$54.00 to C$59.00 and gave the company a “market perform” rating in a research note on Thursday. Six equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of C$54.83.

Canadian Western Bank Stock Down 1.3 %

Shares of TSE CWB traded down C$0.73 on Thursday, reaching C$56.39. 99,828 shares of the company’s stock traded hands, compared to its average volume of 366,839. The business’s 50 day simple moving average is C$57.67 and its two-hundred day simple moving average is C$49.52. Canadian Western Bank has a 12 month low of C$24.66 and a 12 month high of C$61.81. The company has a market cap of C$5.45 billion, a price-to-earnings ratio of 18.92, a price-to-earnings-growth ratio of 2.95 and a beta of 1.39.

About Canadian Western Bank

Canadian Western Bank is a diversified financial service organization providing banking, trust, and wealth management services. The group operates through a number of subsidiaries providing different areas of financial services. Canadian Western Bank offers business banking services including general commercial banking, equipment financing and leasing, real estate financing, and other services for small- and medium-sized companies, as well as personal banking services including chequing and savings accounts, loans, mortgages, and investment products.