CIBC Forecasts Strong Price Appreciation for Canadian Western Bank (TSE:CWB) Stock

Canadian Western Bank (TSE:CWB) had its price target raised by equities researchers at CIBC from C$60.30 to C$63.50 in a research note issued on Tuesday,BayStreet.CA reports. CIBC’s price objective would suggest a potential upside of 6.47% from the stock’s current price.

Several other equities analysts also recently weighed in on CWB. Jefferies Financial Group raised their price target on Canadian Western Bank from C$52.00 to C$57.00 and gave the company a “hold” rating in a report on Tuesday, September 3rd. Cibc World Mkts upgraded Canadian Western Bank to a “hold” rating in a report on Tuesday, September 3rd. Raymond James downgraded Canadian Western Bank from a “moderate buy” rating to a “hold” rating and lifted their price objective for the stock from C$52.00 to C$54.00 in a report on Tuesday, September 3rd. Cormark lifted their price objective on Canadian Western Bank from C$46.00 to C$47.00 in a report on Tuesday, September 3rd. Finally, Royal Bank of Canada lifted 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 report on Tuesday, September 3rd. Six equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, Canadian Western Bank presently has a consensus rating of “Hold” and an average price target of C$51.45.

Canadian Western Bank Stock Performance

CWB stock traded down C$0.08 on Tuesday, reaching C$59.64. The company’s stock had a trading volume of 114,153 shares, compared to its average volume of 356,471. The business has a fifty day simple moving average of C$56.06 and a two-hundred day simple moving average of C$46.12. Canadian Western Bank has a 12-month low of C$24.66 and a 12-month high of C$60.35. The firm has a market cap of C$5.77 billion, a PE ratio of 20.01, a PEG ratio of 2.95 and a beta of 1.39.

Canadian Western Bank (TSE:CWB) last announced its quarterly earnings results on Friday, August 30th. The company reported C$0.60 EPS for the quarter, missing analysts’ consensus estimates of C$0.87 by C($0.27). The business had revenue of C$298.47 million during the quarter, compared to analysts’ expectations of C$296.88 million. Canadian Western Bank had a return on equity of 7.51% and a net margin of 29.23%. As a group, research analysts anticipate that Canadian Western Bank will post 3.656168 earnings per share for the current fiscal year.

Insider Buying and Selling at Canadian Western Bank

In other news, Senior Officer Trent Albert Erickson sold 3,900 shares of Canadian Western Bank stock in a transaction dated Wednesday, September 4th. The stock was sold at an average price of C$51.42, for a total transaction of C$200,538.00. Corporate insiders own 0.46% of the company’s stock.

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.