Canadian Western Bank (TSE:CWB) Hits New 52-Week High – Here’s What Happened

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

Analyst Upgrades and Downgrades

Several analysts have weighed in on CWB shares. CIBC upped their price objective on shares of Canadian Western Bank from C$60.30 to C$63.50 in a research note on Tuesday, November 26th. Royal Bank of Canada increased their price target on shares of Canadian Western Bank from C$52.00 to C$60.00 and gave the company a “sector perform” rating in a research note on Thursday, December 19th. Desjardins lowered Canadian Western Bank from a “moderate buy” rating to a “hold” rating in a research report on Friday, December 20th. Scotiabank upped their target price on shares of Canadian Western Bank from C$52.00 to C$62.00 in a research report on Monday, November 25th. Finally, Raymond James raised their price target on 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. Seven equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat.com, Canadian Western Bank has a consensus rating of “Hold” and an average target price of C$54.83.

Canadian Western Bank Price Performance

The stock’s 50 day simple moving average is C$58.48 and its two-hundred day simple moving average is C$52.64. The stock has a market cap of C$5.74 billion, a P/E ratio of 19.93, a price-to-earnings-growth ratio of 2.95 and a beta of 1.39.

About Canadian Western Bank

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.