Canadian Western Bank (TSE:CWB) Hits New 1-Year High – Here’s Why

Canadian Western Bank (TSE:CWB)’s share price reached a new 52-week high during trading on Monday . The stock traded as high as C$27.70 and last traded at C$59.49, with a volume of 192275 shares traded. The stock had previously closed at C$59.38.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the stock. Desjardins lowered shares of Canadian Western Bank from a “moderate buy” rating to a “hold” rating in a report on Friday, December 20th. Raymond James upped their price objective on shares of Canadian Western Bank from C$54.00 to C$59.00 and gave the stock a “market perform” rating in a research report on Thursday, December 19th. BMO Capital Markets raised their target price on Canadian Western Bank from C$52.00 to C$58.00 in a research report on Monday, November 18th. Scotiabank upped their price target on Canadian Western Bank from C$52.00 to C$62.00 in a report on Monday, November 25th. Finally, Royal Bank of Canada raised their price objective on Canadian Western Bank from C$52.00 to C$60.00 and gave the company a “sector perform” rating in a report on Thursday, December 19th. Seven investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat, Canadian Western Bank currently has an average rating of “Hold” and an average price target of C$54.83.

Canadian Western Bank Price Performance

The firm has a market capitalization of C$5.73 billion, a price-to-earnings ratio of 19.88, a PEG ratio of 2.95 and a beta of 1.39. The firm has a 50 day moving average price of C$58.34 and a 200-day moving average price of C$52.34.

Canadian Western Bank Company Profile

Canadian Western Bank is a diversified financial service organization providing banking, trust, and wealth management services. The group operates through a number of subsidiaries providing different areas of financial services. Canadian Western Bank offers business banking services including general commercial banking, equipment financing and leasing, real estate financing, and other services for small- and medium-sized companies, as well as personal banking services including chequing and savings accounts, loans, mortgages, and investment products.