Canadian Western Bank (TSE:CWB) Reaches New 52-Week High at $49.60

Canadian Western Bank (TSE:CWB - Get Free Report)'s stock price reached a new 52-week high during trading on Friday . The company traded as high as C$49.60 and last traded at C$49.60, with a volume of 15104 shares trading hands. The stock had previously closed at C$49.25.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the stock. Scotiabank raised their price objective on shares of Canadian Western Bank from C$30.00 to C$52.00 and gave the stock an "outperform" rating in a report on Tuesday, June 18th. BMO Capital Markets downgraded Canadian Western Bank from an "outperform" rating to a "market perform" rating and lifted their price objective for the company from C$35.00 to C$52.00 in a research report on Wednesday, June 12th. CIBC cut Canadian Western Bank from a "neutral" rating to a "tender" rating and increased their target price for the stock from C$30.00 to C$55.80 in a report on Tuesday, June 18th. National Bankshares cut their price target on Canadian Western Bank from C$37.00 to C$30.00 and set an "outperform" rating for the company in a report on Monday, June 3rd. Finally, Jefferies Financial Group upped their price target on shares of Canadian Western Bank from C$28.00 to C$52.00 and gave the stock a "hold" rating in a research report on Thursday, June 13th. Four equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of C$40.29.

Canadian Western Bank Price Performance

The business's 50 day simple moving average is C$45.55 and its 200-day simple moving average is C$33.95. The stock has a market capitalization of C$4.81 billion, a P/E ratio of 14.77, a PEG ratio of 2.95 and a beta of 1.39.

Canadian Western Bank (TSE:CWB - Get Free Report) last posted its quarterly earnings results on Friday, May 31st. The company reported C$0.81 earnings per share (EPS) for the quarter, missing the consensus estimate of C$0.86 by C($0.05). The company had revenue of C$285.92 million during the quarter, compared to the consensus estimate of C$290.33 million. Canadian Western Bank had a return on equity of 8.66% and a net margin of 32.29%. Research analysts anticipate that Canadian Western Bank will post 3.7208565 earnings per share for the current fiscal year.

Canadian Western Bank Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, June 20th. Investors of record on Thursday, June 6th were issued a dividend of $0.35 per share. The ex-dividend date of this dividend was Thursday, June 6th. This represents a $1.40 dividend on an annualized basis and a yield of 2.81%. This is a boost from Canadian Western Bank's previous quarterly dividend of $0.34. Canadian Western Bank's payout ratio is currently 41.67%.

Insider Buying and Selling at Canadian Western Bank

In other news, Senior Officer Trent Albert Erickson purchased 4,312 shares of Canadian Western Bank stock in a transaction dated Friday, June 14th. The shares were bought at an average cost of C$41.44 per share, with a total value of C$178,680.66. In related news, Senior Officer Jenny Siman sold 1,000 shares of the business's stock in a transaction that occurred on Monday, July 22nd. The stock was sold at an average price of C$46.05, for a total value of C$46,050.00. Also, Senior Officer Trent Albert Erickson bought 4,312 shares of the stock in a transaction that occurred on Friday, June 14th. The shares were acquired at an average cost of C$41.44 per share, with a total value of C$178,680.66. Insiders own 0.46% of the company's stock.

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.