Canadian Western Bank (CWB) Price Target Lowered to C$37.00 at Desjardins

Canadian Western Bank (TSE:CWB) had its price objective decreased by Desjardins from C$38.00 to C$37.00 in a report issued on Friday morning. Desjardins also issued estimates for Canadian Western Bank’s Q1 2019 earnings at $0.78 EPS, Q2 2019 earnings at $0.78 EPS, Q3 2019 earnings at $0.82 EPS, Q4 2019 earnings at $0.82 EPS, FY2019 earnings at $3.20 EPS and FY2020 earnings at $3.50 EPS.

A number of other analysts have also recently commented on the stock. Eight Capital lowered their target price on shares of Canadian Western Bank from C$43.00 to C$36.00 in a research note on Friday. TD Securities lowered their target price on shares of Canadian Western Bank from C$33.00 to C$31.00 in a research note on Friday. National Bank Financial lowered their target price on shares of Canadian Western Bank from C$38.00 to C$32.00 and set a sector perform rating for the company in a research note on Friday. Canaccord Genuity lowered their target price on shares of Canadian Western Bank from C$38.00 to C$36.00 in a research note on Thursday, November 22nd. Finally, Barclays lowered their target price on shares of Canadian Western Bank from C$38.00 to C$35.00 in a research note on Friday, November 16th. One research analyst has rated the stock with a sell rating, four have given a hold rating and two have given a buy rating to the stock. The stock currently has an average rating of Hold and a consensus target price of C$35.75.

CWB stock traded down C$0.13 during trading on Friday, reaching C$26.55. The company had a trading volume of 461,600 shares, compared to its average volume of 262,359. Canadian Western Bank has a twelve month low of C$25.31 and a twelve month high of C$40.83.

The firm also recently declared a quarterly dividend, which will be paid on Thursday, January 3rd. Shareholders of record on Friday, December 14th will be given a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a yield of 3.92%. The ex-dividend date of this dividend is Thursday, December 13th. Canadian Western Bank’s dividend payout ratio is presently 37.83%.

In other Canadian Western Bank news, insider Lester Shore purchased 1,000 shares of Canadian Western Bank stock in a transaction on Wednesday, October 31st. The stock was bought at an average cost of C$30.73 per share, with a total value of C$30,730.00. Insiders have acquired a total of 2,850 shares of company stock valued at $90,443 over the last three months.

Canadian Western Bank Company Profile

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.

Read More: Price to Earnings Ratio (PE)

Analyst Recommendations for Canadian Western Bank (TSE:CWB)

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