Canaccord Genuity Cuts Canadian Western Bank (TSE:CWB) Price Target to C$34.00

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Canadian Western Bank (TSE:CWB) had its price objective trimmed by Canaccord Genuity from C$36.00 to C$34.00 in a research note issued to investors on Friday morning, BayStreet.CA reports.

Other equities analysts have also recently issued reports about the stock. Desjardins upped their price objective on shares of Canadian Western Bank from C$34.00 to C$36.00 and gave the stock a hold rating in a research report on Tuesday, November 5th. TD Securities increased their price objective on shares of Canadian Western Bank from C$33.00 to C$34.00 and gave the company a hold rating in a report on Friday, August 30th. CIBC lifted their target price on shares of Canadian Western Bank from C$33.00 to C$38.00 in a research report on Thursday, November 21st. Scotiabank cut their target price on shares of Canadian Western Bank from C$36.00 to C$35.00 in a research note on Friday. Finally, Eight Capital upped their price target on shares of Canadian Western Bank from C$34.00 to C$36.00 in a research report on Wednesday, September 4th. Six research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The company currently has a consensus rating of Hold and an average target price of C$34.55.

Shares of TSE:CWB traded down C$0.42 during midday trading on Friday, reaching C$32.62. 367,845 shares of the company’s stock traded hands, compared to its average volume of 225,266. The company has a fifty day simple moving average of C$34.48 and a two-hundred day simple moving average of C$31.48. Canadian Western Bank has a 1 year low of C$24.33 and a 1 year high of C$36.61. The company has a market cap of $2.85 billion and a P/E ratio of 10.91.

The company also recently declared a quarterly dividend, which will be paid on Tuesday, January 7th. Stockholders of record on Tuesday, December 17th will be paid a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a dividend yield of 3.43%. The ex-dividend date of this dividend is Monday, December 16th. Canadian Western Bank’s dividend payout ratio is presently 35.45%.

In related news, Senior Officer Darrell Robert Jones sold 1,849 shares of the stock in a transaction on Monday, September 9th. The stock was sold at an average price of C$32.99, for a total value of C$60,996.66. Following the completion of the transaction, the insider now directly owns 16,130 shares of the company’s stock, valued at approximately C$532,112.57.

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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