Desjardins Cuts Canadian Western Bank (TSE:CWB) Price Target to C$33.00

Canadian Western Bank (TSE:CWB) had its target price reduced by Desjardins from C$35.00 to C$33.00 in a research note issued to investors on Monday morning, BayStreet.CA reports. They currently have a buy rating on the stock.

CWB has been the topic of several other reports. Royal Bank of Canada decreased their target price on shares of Canadian Western Bank from C$34.00 to C$32.00 and set an outperform rating on the stock in a research report on Monday, March 4th. CIBC lifted their target price on Canadian Western Bank from C$32.00 to C$34.00 and gave the stock a neutral rating in a report on Wednesday, February 14th. Scotiabank raised Canadian Western Bank from a sector perform rating to an outperform rating and set a C$32.00 target price on the stock in a research report on Tuesday, February 20th. Finally, Veritas Investment Research restated a buy rating on shares of Canadian Western Bank in a research report on Monday, March 4th. Two analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of Moderate Buy and a consensus target price of C$33.55.

Canadian Western Bank Price Performance

TSE CWB opened at C$27.29 on Monday. Canadian Western Bank has a 1-year low of C$22.96 and a 1-year high of C$31.64. The business has a 50 day simple moving average of C$27.53 and a two-hundred day simple moving average of C$28.77. The stock has a market capitalization of C$2.63 billion, a PE ratio of 8.27, a P/E/G ratio of 2.95 and a beta of 1.54.

Canadian Western Bank (TSE:CWB) last posted its earnings results on Friday, March 1st. The company reported C$0.93 earnings per share for the quarter, beating analysts’ consensus estimates of C$0.91 by C$0.02. The firm had revenue of C$289.99 million during the quarter, compared to analyst estimates of C$301.10 million. Canadian Western Bank had a net margin of 31.97% and a return on equity of 8.58%. On average, analysts anticipate that Canadian Western Bank will post 3.5834464 EPS for the current fiscal year.

Canadian Western Bank Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 21st. Shareholders of record on Thursday, March 7th were issued a dividend of $0.34 per share. This represents a $1.36 annualized dividend and a yield of 4.98%. The ex-dividend date of this dividend was Wednesday, March 6th. Canadian Western Bank’s payout ratio is 40.61%.

Insider Activity at Canadian Western Bank

In other Canadian Western Bank news, Senior Officer Supriya Anna Maria James sold 4,600 shares of Canadian Western Bank stock in a transaction dated Tuesday, April 23rd. The stock was sold at an average price of C$27.00, for a total value of C$124,203.22. In other news, Senior Officer Mark Stafford sold 1,708 shares of the firm’s stock in a transaction on Tuesday, April 9th. The stock was sold at an average price of C$27.94, for a total value of C$47,728.69. Also, Senior Officer Supriya Anna Maria James sold 4,600 shares of the company’s stock in a transaction dated Tuesday, April 23rd. The shares were sold at an average price of C$27.00, for a total transaction of C$124,203.22. 0.32% of the stock is currently owned by corporate 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.