Canadian Western Bank (TSE:CWB) Rating Increased to Equal Weight at Barclays

Canadian Western Bank (TSE:CWB) was upgraded by stock analysts at Barclays from an “underweight” rating to an “equal weight” rating in a research report issued to clients and investors on Tuesday, BayStreet.CA reports. The firm presently has a C$31.00 target price on the stock, up from their prior target price of C$30.00. Barclays‘s price target points to a potential upside of 5.66% from the stock’s previous close.

Several other equities analysts have also commented on CWB. TD Securities upped their price objective on shares of Canadian Western Bank from C$31.00 to C$32.00 and gave the stock a “hold” rating in a report on Friday, March 8th. BMO Capital Markets restated an “outperform” rating on shares of Canadian Western Bank in a report on Friday, March 8th. Royal Bank of Canada lowered shares of Canadian Western Bank from an “outperform” rating to a “sector perform” rating and decreased their price objective for the stock from C$38.00 to C$32.00 in a report on Friday, March 8th. CIBC decreased their price objective on shares of Canadian Western Bank from C$36.00 to C$34.00 in a report on Friday, March 8th. Finally, CSFB set a C$31.00 price objective on shares of Canadian Western Bank and gave the stock a “neutral” rating in a report on Thursday, May 16th. Five analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. Canadian Western Bank presently has a consensus rating of “Hold” and an average price target of C$33.22.

TSE:CWB traded up C$0.73 on Tuesday, hitting C$29.34. The stock had a trading volume of 437,387 shares, compared to its average volume of 253,055. The firm has a market capitalization of $2.50 billion and a price-to-earnings ratio of 10.17. Canadian Western Bank has a 1-year low of C$24.33 and a 1-year high of C$38.96.

Canadian Western Bank (TSE:CWB) last issued its quarterly earnings data on Wednesday, May 29th. The company reported C$0.74 EPS for the quarter, missing the consensus estimate of C$0.76 by C($0.02). The firm had revenue of C$209.83 million for the quarter, compared to analysts’ expectations of C$209.23 million. Sell-side analysts anticipate that Canadian Western Bank will post 3.4500001 EPS for the current year.

About Canadian Western Bank

Canadian Western Bank provides personal and business banking products and services primarily in Western Canada. The company offers current, savings, cash management, US dollar, senior, chequing, youth, and student accounts, as well as specialized accounts, including corporate and commercial, organization, strata solution/condo, general trust, and trust fund investment accounts.

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Analyst Recommendations for Canadian Western Bank (TSE:CWB)

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