Barclays lowers Canadian Western Bank (TSE:CWB) price target to C$32.00

Canadian Western Bank (TSE: CWB – Get Appraised) had its price target reduced by Barclays investment analysts from C$36.00 to C$32.00 in a note issued to investors on Monday, BayStreet.CA reports. Barclays’ price target would suggest a potential upside of 14.29% from the stock’s previous close.

Several other stock analysts also weighed in on the stock. Royal Bank of Canada lowered its price target on Canadian Western Bank shares from C$44.00 to C$38.00 and set an “industry performance” rating on the stock in a report released on Monday, May 30. Keefe, Bruyette & Woods lowered their price target on Canadian Western Bank shares from C$35.00 to C$34.00 in a Monday, August 8 report. TD Securities lowered its price target on Canadian Western Bank shares from C$42.00 to C$39.00 in a report released Monday, May 30. CIBC lowered its price target on Canadian Western Bank shares from C$34.00 to C$32.00 in a report released Monday, May 30. Finally, Credit Suisse Group lowered its price target on Canadian Western Bank shares to C$33.00 and gave the stock a “neutral” rating in a Monday, May 30 research report. Five investment analysts gave the stock a hold rating and six gave the company a buy rating. According to data from MarketBeat.com, Canadian Western Bank currently has an average rating of “Moderate Buy” and an average price target of C$36.13.

Canadian Western Bank is trading down 0.0%

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Shares of Canadian Western Bank traded lower C$0.01 during Monday trading hours, hitting C$28.00. The stock recorded trading volume of 65,399 shares, compared to an average trading volume of 341,619 shares. The stock’s 50-day moving average is C$26.45 and its 200-day moving average is C$32.14. The company has a market capitalization of C$2.56 billion and a PE ratio of 7.37. Canadian Western Bank has a 12-month low of C$24.11 and a 12-month high of C$41.56.

Canadian Western Bank (TSE: CWB – Get Rating) last released quarterly earnings data on Friday, May 27. The company reported earnings per share of CA$0.84 for the quarter, missing analyst consensus estimates of CA$0.89 by CA$0.05. The company posted revenue of C$258.76 million for the quarter, compared to analyst estimates of C$264.90 million. As a group, sell-side analysts expect Canadian Western Bank to post earnings per share of 3.9799998 for the current year.

Insider buying and selling at Canadian Western Bank

In other Canadian Western Bank news, Senior Officer Darrell Robert Jones sold 1,600 shares of the company in a trade on Tuesday, July 26. The shares were sold at an average price of CA$25.50, for a total transaction of CA$40,800.00. Following the completion of the sale, the insider now owns 25,206 shares of the company, valued at C$642,753. Insiders acquired a total of 4,759 shares of the company worth $130,586 over the past 90 days.

Canadian Western Bank Corporate Profile

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Canadian Western Bank provides banking products and services to individuals and businesses primarily in Western Canada. The company offers checking, savings, cash management, US dollar, and checking accounts, as well as organizational, strata/condo solution, general trust, and investment fund trust accounts. It also offers commercial loans and real estate, as well as equipment financing and leasing products; loans and mortgages; secured and unsecured lines of credit; registered retirement savings plan; consolidation loans, vehicles and recreational vehicles; and credit cards.

See also

Analyst Recommendations for Canadian Western Bank (TSE: CWB)

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