Canadian Western Bank (TSE:CWB) – Equities researchers at National Bank Financial increased their Q2 2018 earnings estimates for Canadian Western Bank in a research report issued on Thursday. National Bank Financial analyst G. Dechaine now expects that the company will earn $0.72 per share for the quarter, up from their previous estimate of $0.71. National Bank Financial has a “Sector Perform” rating and a $38.00 price target on the stock. National Bank Financial also issued estimates for Canadian Western Bank’s Q4 2018 earnings at $0.75 EPS and FY2018 earnings at $2.96 EPS.
A number of other equities research analysts also recently issued reports on the company. Scotiabank decreased their price objective on Canadian Western Bank from C$42.00 to C$41.00 and set an “outperform” rating on the stock in a research report on Friday, March 9th. Barclays upped their price objective on Canadian Western Bank from C$36.00 to C$37.00 in a research report on Friday, March 9th. CIBC decreased their price objective on Canadian Western Bank from C$42.00 to C$40.00 in a research report on Friday, March 9th. Royal Bank of Canada decreased their price objective on Canadian Western Bank from C$40.00 to C$39.00 and set an “outperform” rating on the stock in a research report on Friday, March 9th. Finally, TD Securities upped their target price on Canadian Western Bank from C$39.00 to C$40.00 and gave the company a “hold” rating in a research note on Friday, March 9th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and six have issued a buy rating to the company. Canadian Western Bank currently has an average rating of “Hold” and an average price target of C$38.85.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 30th. Investors of record on Friday, March 16th will be paid a $0.25 dividend. The ex-dividend date of this dividend is Thursday, March 15th. This represents a $1.00 annualized dividend and a yield of 2.82%. This is a boost from Canadian Western Bank’s previous quarterly dividend of $0.24. Canadian Western Bank’s dividend payout ratio is 36.86%.
In other news, Director Margaret Jean Mulligan acquired 800 shares of the company’s stock in a transaction that occurred on Monday, March 12th. The shares were bought at an average price of C$35.72 per share, with a total value of C$28,576.00. Also, insider Allen David Stephen sold 1,000 shares of the stock in a transaction that occurred on Wednesday, January 17th. The stock was sold at an average price of C$40.00, for a total value of C$40,000.00. In the last three months, insiders sold 3,738 shares of company stock worth $98,754.
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.
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