Canadian Western Bank (TSE:CWB) Price Target Increased to C$57.00 by Analysts at Desjardins

Canadian Western Bank (TSE:CWB - Free Report) had its target price lifted by Desjardins from C$53.00 to C$57.00 in a research note released on Tuesday morning, BayStreet.CA reports. They currently have a buy rating on the stock.

Several other brokerages have also recently weighed in on CWB. Jefferies Financial Group lifted their price objective 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. National Bankshares reduced their price target on Canadian Western Bank from C$37.00 to C$30.00 and set an outperform rating on the stock in a research report on Monday, June 3rd. BMO Capital Markets cut 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 report on Wednesday, June 12th. CIBC raised their price target on Canadian Western Bank from C$55.80 to C$60.30 and gave the stock a neutral rating in a research report on Tuesday. Finally, Scotiabank increased 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 research note on Tuesday, June 18th. Five investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of Moderate Buy and an average price target of C$44.10.

Canadian Western Bank Stock Performance

CWB traded down C$0.04 during trading hours on Tuesday, reaching C$51.43. The company's stock had a trading volume of 449,720 shares, compared to its average volume of 371,572. The company's 50-day moving average is C$46.79 and its 200-day moving average is C$35.14. Canadian Western Bank has a 52 week low of C$24.66 and a 52 week high of C$52.80. The firm has a market cap of C$4.97 billion, a PE ratio of 15.31, a price-to-earnings-growth ratio of 2.95 and a beta of 1.39.

Canadian Western Bank (TSE:CWB - Get Free Report) last released its quarterly earnings results on Friday, May 31st. The company reported C$0.81 earnings per share for the quarter, missing the consensus estimate of C$0.86 by C($0.05). Canadian Western Bank had a net margin of 32.29% and a return on equity of 8.66%. The company had revenue of C$285.92 million during the quarter, compared to the consensus estimate of C$290.33 million. Equities analysts anticipate that Canadian Western Bank will post 3.703869 earnings per share for the current fiscal year.

Canadian Western Bank Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 26th. Shareholders of record on Thursday, September 12th will be paid a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a dividend yield of 2.72%. The ex-dividend date is Thursday, September 12th. Canadian Western Bank's dividend payout ratio (DPR) is 41.67%.

Insider Buying and Selling

In other news, Senior Officer Jenny Siman sold 1,000 shares of the 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. In other news, Senior Officer Jenny Siman sold 1,000 shares of the company's 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. Also, Senior Officer Trent Albert Erickson purchased 4,312 shares of the company's stock in a transaction that occurred on Friday, June 14th. The shares were purchased at an average cost of C$41.44 per share, for a total transaction of C$178,680.66. 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.