Canadian Western Bank (TSE:CWB) Sets New 12-Month High - Should You Buy?

Canadian Western Bank (TSE:CWB - Get Free Report)'s stock price reached a new 52-week high during mid-day trading on Tuesday . The stock traded as high as C$56.23 and last traded at C$56.18, with a volume of 99223 shares. The stock had previously closed at C$55.72.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the company. Royal Bank of Canada upped their price objective on Canadian Western Bank from C$51.00 to C$52.00 and gave the stock a "sector perform" rating in a research report on Tuesday, September 3rd. Scotiabank raised their price target on Canadian Western Bank from C$30.00 to C$52.00 and gave the stock an "outperform" rating in a research note on Tuesday, June 18th. Raymond James downgraded Canadian Western Bank from a "moderate buy" rating to a "hold" rating and raised their price target for the stock from C$52.00 to C$54.00 in a research note on Tuesday, September 3rd. Desjardins raised their price target on Canadian Western Bank from C$53.00 to C$57.00 and gave the stock a "buy" rating in a research note on Tuesday, September 3rd. Finally, Cormark raised their price target on Canadian Western Bank from C$46.00 to C$47.00 in a research note on Tuesday, September 3rd. Six analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, Canadian Western Bank has an average rating of "Moderate Buy" and an average target price of C$48.03.

Canadian Western Bank Stock Performance

The firm has a fifty day moving average price of C$51.42 and a 200 day moving average price of C$40.10. The firm has a market capitalization of C$5.46 billion, a price-to-earnings ratio of 18.70, a PEG ratio of 2.95 and a beta of 1.39.

Canadian Western Bank (TSE:CWB - Get Free Report) last issued its quarterly earnings data on Friday, August 30th. The company reported C$0.60 earnings per share (EPS) for the quarter, missing the consensus estimate of C$0.87 by C($0.27). The firm had revenue of C$298.47 million for 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%. Research analysts predict that Canadian Western Bank will post 3.656168 earnings per share for the current fiscal year.

Canadian Western Bank Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, September 26th. Shareholders of record on Thursday, September 12th were given a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a yield of 2.48%. The ex-dividend date of this dividend was Thursday, September 12th. Canadian Western Bank's payout ratio is 46.98%.

Insiders Place Their Bets

In other Canadian Western Bank news, Senior Officer Trent Albert Erickson sold 3,900 shares of the firm's stock in a transaction on Wednesday, September 4th. The stock was sold at an average price of C$51.42, for a total transaction of C$200,538.00. In other news, Senior Officer Trent Albert Erickson sold 3,900 shares of Canadian Western Bank 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. Also, Senior Officer Jenny Siman sold 1,000 shares of Canadian Western Bank stock in a transaction on Monday, July 22nd. The shares were sold at an average price of C$46.05, for a total value of C$46,050.00. 0.46% of the stock is currently owned by company insiders.

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.

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