Canadian Western Bank (TSE:CWB) receives new price target of C$30.00 from CIBC

Canadian Western Bank (TSE: CWB – Get Appraised) saw its target price reduced by CIBC from CA$32.00 to CA$30.00 in a report released Tuesday morning, BayStreet.CA reports.

Several other stock analysts have also recently commented on the stock. Scotiabank lowered its price target on Canadian Western Bank shares from C$44.00 to C$37.00 in a Monday, May 30 research note. In a research note on Sunday, May 15, National Bank Financial upgraded Canadian Western Bank shares from a performing sector to an above-market weight rating. TD Securities reduced its price target on Canadian Western Bank shares from C$42.00 to C$39.00 in a Monday, May 30 research note. Keefe, Bruyette & Woods reduced their price target on Canadian Western Bank shares from C$35.00 to C$34.00 in a Monday, August 8 research note. Finally, Royal Bank of Canada lowered its price target on Canadian Western Bank shares from C$44.00 to C$38.00 and set a sector performance rating for the stock in a research note from the Monday May 30. Five investment analysts gave the stock a hold rating and six gave the company a buy rating. According to data from, the company currently has a Moderate Buy consensus rating and an average price target of C$35.96.

Canadian Western Bank Price Performance

TSE: CWB opened at C$28.22 on Tuesday. Canadian Western Bank has a 1-year low of C$24.11 and a 1-year high of C$41.56. The company has a market capitalization of C$2.58 billion and a P/E ratio of 7.45. The company’s fifty-day moving average price is C$26.36 and its two-hundred-day moving average price is C$32.04.

Canadian Western Bank (TSE: CWB – Get Rating) last released quarterly earnings data on Friday, May 27. The company reported EPS of C$0.84 for the quarter, missing the consensus estimate of C$0.89 by C$0.05. The company posted revenue of C$258.76 million for the quarter, while analysts had expected C$264.90 million. As a group, equity research analysts expect Canadian Western Bank to post earnings per share of 3.9799998 for the current year.

Insider Trading at Canadian Western Bank

In related news, senior officer Darrell Robert Jones purchased 3,584 shares of the company in a trade dated Wednesday, June 15. The shares were purchased at an average price of CA$27.90 per share, with a total value of CA$99,993.60. Following the completion of the acquisition, the insider now owns 26,806 shares of the company, valued at C$747,887.40. Over the past 90 days, insiders have purchased 4,759 shares of the company worth $130,586.

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.

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