Insider Buying: Canadian Western Bank (CWB) Insider Buys 750 Shares of Stock

Canadian Western Bank (TSE:CWB) insider Allen David Stephen bought 750 shares of the company’s stock in a transaction on Thursday, June 15th. The stock was purchased at an average cost of C$25.50 per share, with a total value of C$19,125.00.

Canadian Western Bank (TSE CWB) traded up 1.60% during midday trading on Friday, reaching $26.01. The company had a trading volume of 348,883 shares. Canadian Western Bank has a 12 month low of $23.14 and a 12 month high of $32.29. The firm’s 50-day moving average price is $25.69 and its 200 day moving average price is $28.87. The firm has a market capitalization of $2.30 billion and a PE ratio of 11.88.

Canadian Western Bank (TSE:CWB) last released its earnings results on Thursday, June 1st. The company reported $0.59 EPS for the quarter, topping analysts’ consensus estimates of $0.57 by $0.02. Canadian Western Bank had a return on equity of 9.00% and a net margin of 29.86%. The company had revenue of $172.44 million for the quarter, compared to the consensus estimate of $169 million. Equities analysts anticipate that Canadian Western Bank will post $2.44 earnings per share for the current fiscal year.

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CWB has been the subject of several recent research reports. National Bank Financial reiterated a “sector perform” rating on shares of Canadian Western Bank in a research note on Monday, February 20th. Royal Bank of Canada decreased their price objective on Canadian Western Bank from C$32.00 to C$30.00 and set a “sector perform” rating for the company in a research note on Friday, March 3rd. CIBC upgraded Canadian Western Bank from an “underperform” rating to a “neutral” rating and lifted their price objective for the company from C$31.00 to C$32.00 in a research note on Friday, March 3rd. TD Securities reiterated a “hold” rating and issued a C$32.00 price objective on shares of Canadian Western Bank in a research note on Friday, March 3rd. Finally, Desjardins lifted their price objective on Canadian Western Bank from C$31.00 to C$32.00 in a research note on Friday, March 3rd. Nine investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. The company currently has an average rating of “Hold” and a consensus target price of C$29.78.

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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