Canadian Western Bank (CWB.TO) (TSE:CWB) Reaches New 1-Year Low on Insider Selling

Canadian Western Bank (CWB.TO) (TSE:CWB) shares reached a new 52-week low during trading on Wednesday following insider selling activity. The company traded as low as C$0.03 and last traded at C$0.03, with a volume of 147341 shares. The stock had previously closed at C$30.55.

Specifically, Director Elizabeth Gay Mitchell purchased 4,000 shares of the firm’s stock in a transaction on Monday, October 26th. The stock was purchased at an average price of C$25.96 per share, for a total transaction of C$103,840.00. Following the acquisition, the director now directly owns 25,350 shares in the company, valued at C$658,086. Also, Senior Officer Mario Vittorio Furlan sold 6,000 shares of the company’s stock in a transaction that occurred on Wednesday, January 6th. The stock was sold at an average price of C$30.11, for a total value of C$180,660.00. Following the completion of the transaction, the insider now owns 17,934 shares of the company’s stock, valued at approximately C$539,992.74.

Several equities analysts have recently commented on the company. National Bank Financial increased their target price on Canadian Western Bank (CWB.TO) from C$30.00 to C$32.00 and gave the company a “sector perform” rating in a research note on Monday. Scotiabank raised their price objective on Canadian Western Bank (CWB.TO) from C$33.00 to C$34.00 in a research note on Wednesday. Raymond James reduced their target price on shares of Canadian Western Bank (CWB.TO) from C$34.00 to C$33.50 and set an “outperform” rating for the company in a research note on Monday, December 7th. TD Securities upped their price target on shares of Canadian Western Bank (CWB.TO) from C$33.00 to C$34.00 and gave the stock a “buy” rating in a research note on Monday, December 7th. Finally, Royal Bank of Canada upped their price target on shares of Canadian Western Bank (CWB.TO) from C$28.00 to C$32.00 and gave the stock a “sector perform” rating in a research note on Monday, December 7th. Four equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The stock has a consensus rating of “Buy” and an average price target of C$30.18.

The company has a market capitalization of C$2.65 billion and a price-to-earnings ratio of 10.66. The business’s 50 day moving average price is C$29.39 and its two-hundred day moving average price is C$26.59.

Canadian Western Bank (CWB.TO) (TSE:CWB) last released its earnings results on Friday, December 4th. The company reported C$0.75 EPS for the quarter, beating the consensus estimate of C$0.73 by C$0.02. The business had revenue of C$236.58 million for the quarter, compared to analyst estimates of C$229.40 million. On average, research analysts expect that Canadian Western Bank will post 3.2600001 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which was paid on Thursday, January 7th. Investors of record on Thursday, December 17th were paid a dividend of $0.29 per share. This represents a $1.16 annualized dividend and a yield of 3.81%. The ex-dividend date was Wednesday, December 16th. Canadian Western Bank (CWB.TO)’s dividend payout ratio is presently 40.27%.

About Canadian Western Bank (CWB.TO) (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, and chequing accounts, as well as organization, strata solution/condo, general trust, and trust fund investment accounts. It also offers commercial lending and real estate, and equipment financing and leasing products; loans and mortgages; secured and unsecured lines of credit; registered retirement savings plan; consolidation, vehicle, and recreation vehicle loans; and credit cards.

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