CSFB Raises Canadian Western Bank (CWB) Price Target to C$40.00

Canadian Western Bank (TSE:CWB) had its target price increased by CSFB from C$37.00 to C$40.00 in a report released on Friday. CSFB’s target price indicates a potential downside of 0.74% from the company’s previous close.

A number of other research firms also recently commented on CWB. National Bank Financial increased their price objective on Canadian Western Bank from C$32.00 to C$35.00 and gave the stock a “sector perform” rating in a report on Tuesday, October 31st. Laurentian increased their price objective on Canadian Western Bank from C$36.00 to C$39.00 and gave the stock a “buy” rating in a report on Monday, October 2nd. Eight Capital restated a “buy” rating and issued a C$41.00 price objective on shares of Canadian Western Bank in a report on Wednesday, December 6th. BMO Capital Markets set a C$33.00 price objective on Canadian Western Bank and gave the stock a “market perform” rating in a report on Thursday, November 16th. Finally, Scotiabank increased their price objective on Canadian Western Bank from C$42.00 to C$43.00 and gave the stock an “outperform” rating in a report on Friday, December 8th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and six have given a buy rating to the company. The company has a consensus rating of “Hold” and a consensus price target of C$39.08.

Shares of Canadian Western Bank (TSE:CWB) traded up C$0.30 on Friday, hitting C$40.30. The stock had a trading volume of 241,963 shares, compared to its average volume of 295,492. The firm has a market cap of $3,590.00, a P/E ratio of 16.65 and a beta of 1.15. Canadian Western Bank has a one year low of C$23.68 and a one year high of C$40.44.

Canadian Western Bank (TSE:CWB) last issued its earnings results on Thursday, December 7th. The company reported C$0.74 earnings per share for the quarter, beating analysts’ consensus estimates of C$0.67 by C$0.07. Canadian Western Bank had a return on equity of 11.23% and a net margin of 33.13%.

In other Canadian Western Bank news, insider James Jeffrey Bowling sold 1,500 shares of the stock in a transaction that occurred on Monday, December 11th. The stock was sold at an average price of C$38.13, for a total transaction of C$57,195.00. Also, insider Allen David Stephen sold 1,000 shares of the stock in a transaction that occurred on Wednesday, January 17th. The shares were sold at an average price of C$40.00, for a total value of C$40,000.00. In the last quarter, insiders have sold 3,950 shares of company stock worth $155,949.

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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.

Analyst Recommendations for Canadian Western Bank (TSE:CWB)

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