Canadian Western Bank (TSE:CWB) Stock Price Crosses Above 50 Day Moving Average of $28.81

Shares of Canadian Western Bank (TSE:CWB) passed above its 50 day moving average during trading on Wednesday . The stock has a 50 day moving average of $28.81 and traded as high as $29.50. Canadian Western Bank shares last traded at $29.36, with a volume of 74,851 shares changing hands.

Several equities research analysts have recently weighed in on the company. Royal Bank of Canada lowered Canadian Western Bank from an “outperform” rating to a “sector perform” rating and lowered their price objective for the company from C$38.00 to C$32.00 in a research note on Friday, March 8th. TD Securities lowered their price objective on Canadian Western Bank from C$33.00 to C$32.00 and set a “hold” rating on the stock in a research note on Thursday, May 30th. CIBC lowered their price objective on Canadian Western Bank from C$36.00 to C$34.00 in a research note on Friday, March 8th. Barclays upgraded Canadian Western Bank from an “underweight” rating to an “equal weight” rating and upped their price objective for the company from C$30.00 to C$31.00 in a research note on Tuesday, June 11th. Finally, BMO Capital Markets reissued an “outperform” rating on shares of Canadian Western Bank in a report on Friday, March 8th. Five equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. Canadian Western Bank presently has a consensus rating of “Hold” and an average price target of C$33.22.

The company’s 50 day simple moving average is C$28.81. The company has a market capitalization of $2.55 billion and a P/E ratio of 10.21.

Canadian Western Bank (TSE:CWB) last posted its quarterly earnings results on Wednesday, May 29th. The company reported C$0.74 earnings per share for the quarter, missing the Zacks’ consensus estimate of C$0.76 by C($0.02). The firm had revenue of C$209.83 million during the quarter, compared to the consensus estimate of C$209.23 million. On average, equities research analysts forecast that Canadian Western Bank will post 3.39236 EPS for the current year.

About Canadian Western Bank (TSE:CWB)

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.

Featured Article: Catch-Up Contributions

Receive News & Ratings for Canadian Western Bank Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Canadian Western Bank and related companies with MarketBeat.com's FREE daily email newsletter.



Leave a Reply