Canadian Western Bank (TSE:CWB) Senior Officer Acquires C$178,680.66 in Stock

Canadian Western Bank (TSE:CWBGet Free Report) Senior Officer Trent Albert Erickson bought 4,312 shares of the company’s stock in a transaction that occurred on Friday, June 14th. The shares were bought at an average cost of C$41.44 per share, for a total transaction of C$178,680.66.

Canadian Western Bank Stock Down 0.6 %

Shares of TSE CWB opened at C$42.05 on Friday. The firm’s 50-day simple moving average is C$29.05 and its 200 day simple moving average is C$29.18. The company has a market cap of C$4.06 billion, a price-to-earnings ratio of 12.74, a price-to-earnings-growth ratio of 2.95 and a beta of 1.54. Canadian Western Bank has a 12-month low of C$23.21 and a 12-month high of C$44.00.

Canadian Western Bank Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, June 20th. Investors of record on Thursday, June 6th were given a dividend of $0.35 per share. This is an increase from Canadian Western Bank’s previous quarterly dividend of $0.34. The ex-dividend date was Thursday, June 6th. This represents a $1.40 annualized dividend and a yield of 3.33%. Canadian Western Bank’s dividend payout ratio is 40.61%.

Analysts Set New Price Targets

CWB has been the topic of a number of recent research reports. BMO Capital Markets downgraded shares of Canadian Western Bank from an “outperform” rating to a “market perform” rating and lifted their price target for the stock from C$35.00 to C$52.00 in a research note on Wednesday, June 12th. Desjardins lifted their price target on shares of Canadian Western Bank from C$32.00 to C$52.00 and gave the stock a “buy” rating in a research note on Tuesday, June 18th. CIBC downgraded shares of Canadian Western Bank from a “neutral” rating to a “tender” rating and lifted their price target for the stock from C$30.00 to C$55.80 in a research note on Tuesday, June 18th. Jefferies Financial Group lifted their price target on shares of Canadian Western Bank from C$28.00 to C$52.00 and gave the stock a “hold” rating in a research note on Thursday, June 13th. Finally, National Bankshares decreased their price target on shares of Canadian Western Bank from C$37.00 to C$30.00 and set an “outperform” rating on the stock in a research note on Monday, June 3rd. Four equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of C$40.22.

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About Canadian Western Bank

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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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