Canadian Western Bank (TSE:CWB) Stock Price Passes Above 200-Day Moving Average - Here's Why

Shares of Canadian Western Bank (TSE:CWB - Get Free Report) passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of C$41.01 and traded as high as C$57.01. Canadian Western Bank shares last traded at C$56.75, with a volume of 220,585 shares changing hands.

Analyst Ratings Changes

A number of analysts have weighed in on the company. Jefferies Financial Group increased their price objective on Canadian Western Bank from C$52.00 to C$57.00 and gave the stock a "hold" rating in a research report on Tuesday, September 3rd. CIBC boosted their price objective on shares of Canadian Western Bank from C$55.80 to C$60.30 and gave the company a "neutral" rating in a research note on Tuesday, September 3rd. Raymond James downgraded shares of Canadian Western Bank from a "moderate buy" rating to a "hold" rating and upped their price objective for the stock from C$52.00 to C$54.00 in a research report on Tuesday, September 3rd. Desjardins lifted 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 report on Tuesday, September 3rd. Finally, Cormark increased their price target on shares of Canadian Western Bank from C$46.00 to C$47.00 in a report on Tuesday, September 3rd. Six analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of C$48.03.

Canadian Western Bank Stock Performance

The stock's 50-day moving average price is C$52.83 and its 200-day moving average price is C$41.42. The company has a market capitalization of C$5.47 billion, a price-to-earnings ratio of 18.99, a P/E/G 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%. Analysts anticipate that Canadian Western Bank will post 3.656168 earnings per share for the current year.

Canadian Western Bank Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 26th. Investors of record on Thursday, September 12th were given a $0.35 dividend. The ex-dividend date of this dividend was Thursday, September 12th. This represents a $1.40 annualized dividend and a dividend yield of 2.47%. Canadian Western Bank's dividend payout ratio is presently 46.98%.

Insider Activity at Canadian Western Bank

In other news, Senior Officer Trent Albert Erickson sold 3,900 shares of the firm's stock in a transaction that occurred on Wednesday, September 4th. The shares were sold at an average price of C$51.42, for a total transaction of C$200,538.00. 0.46% of the stock is owned by corporate insiders.

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.