Canadian Western Bank (TSE:CWB) Stock Price Crosses Above Two Hundred Day Moving Average - Here's Why

Canadian Western Bank (TSE:CWB - Get Free Report) crossed above its 200-day moving average during trading on Friday . The stock has a 200-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.

Wall Street Analyst Weigh In

Several analysts have recently commented on CWB shares. Jefferies Financial Group lifted their price target on shares of Canadian Western Bank from C$52.00 to C$57.00 and gave the company a "hold" rating in a research report on Tuesday, September 3rd. Royal Bank of Canada increased their price target on Canadian Western Bank from C$51.00 to C$52.00 and gave the stock a "sector perform" rating in a report on Tuesday, September 3rd. Scotiabank raised their price objective on Canadian Western Bank from C$52.00 to C$62.00 in a research report on Monday, November 25th. Raymond James cut shares of Canadian Western Bank from a "moderate buy" rating to a "hold" rating and upped their target price for the company from C$52.00 to C$54.00 in a research report on Tuesday, September 3rd. Finally, CIBC lifted their price target on shares of Canadian Western Bank from C$60.30 to C$63.50 in a research report on Tuesday, November 26th. Six investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Hold" and an average price target of C$53.39.

Canadian Western Bank Stock Down 0.8 %

The company's 50-day moving average price is C$57.50 and its 200-day moving average price is C$48.88. The firm has a market cap of C$5.61 billion, a price-to-earnings ratio of 19.47, a PEG ratio of 2.95 and a beta of 1.39.

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.