Canadian Western Bank (CWB) Raises Dividend to $0.24 Per Share
Canadian Western Bank (TSE:CWB) announced a quarterly dividend on Friday, September 1st, Zacks reports. Shareholders of record on Friday, September 15th will be paid a dividend of 0.24 per share on Friday, September 29th. This represents a $0.96 annualized dividend and a dividend yield of 3.18%. The ex-dividend date of this dividend is Thursday, September 14th. This is a positive change from Canadian Western Bank’s previous quarterly dividend of $0.22.
Shares of Canadian Western Bank (CWB) remained flat at $30.20 during midday trading on Friday. The company’s stock had a trading volume of 1,102,311 shares. Canadian Western Bank has a 52 week low of $23.68 and a 52 week high of $32.29. The firm’s 50 day moving average price is $28.59 and its 200 day moving average price is $27.91. The stock has a market capitalization of $2.67 billion and a PE ratio of 13.80.
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CWB has been the topic of a number of research analyst reports. CIBC raised Canadian Western Bank from a “neutral” rating to an “outperform” rating and lowered their price target for the company from C$33.00 to C$30.00 in a report on Friday, June 2nd. Royal Bank Of Canada reaffirmed a “sector perform” rating and set a C$30.00 target price on shares of Canadian Western Bank in a research note on Friday, May 26th. Scotiabank raised Canadian Western Bank from a “sector perform” rating to an “outperform” rating and raised their target price for the company from C$30.00 to C$33.00 in a research note on Friday, September 1st. TD Securities decreased their target price on Canadian Western Bank from C$30.00 to C$29.00 and set a “hold” rating for the company in a research note on Friday, June 2nd. Finally, Canaccord Genuity raised their target price on Canadian Western Bank from C$29.00 to C$30.00 in a research note on Friday, September 1st. Seven investment analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus target price of C$31.61.
About Canadian Western Bank
Canadian Western Bank (CWB) is a Canada-based bank engaged in offering a range of financial services. The Bank specializes in mid-market commercial banking, real estate and construction financing, and equipment financing and leasing. The Bank offers financing solutions through CWB Equipment Financing, National Leasing, CWB Maxium Financial, CWB Franchise Finance and CWB Optimum Mortgage, trust services through Canadian Western Trust and wealth advisory services through CWB Wealth Management.
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