The stock of Canadian Western Bank (TSE:CWB) hit a new 52-week high and has $31.58 target or 7.00% above today’s $29.51 share price. The 8 months bullish chart indicates low risk for the $2.66 billion company. The 1-year high was reported on Nov, 24 by Barchart.com. If the $31.58 price target is reached, the company will be worth $186.20M more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock. About 38,218 shares traded hands. Canadian Western Bank (TSE:CWB) has risen 1.35% since April 20, 2016 and is uptrending. It has underperformed by 4.06% the S&P500.
Canadian Western Bank (TSE:CWB) Ratings Coverage
Out of 7 analysts covering Canadian Western Bank (TSE:CWB), 0 rate it a “Buy”, 1 “Sell”, while 6 “Hold”. This means 0 are positive. $106 is the highest target while $23 is the lowest. The $26.56 average target is -10.00% below today’s ($29.51) stock price. Canadian Western Bank has been the topic of 29 analyst reports since August 12, 2015 according to StockzIntelligence Inc. The firm has “Sector Perform” rating by Scotia Capital given on Friday, June 3. The rating was maintained by Scotia Capital with “Sector Perform” on Friday, September 4. As per Friday, June 3, the company rating was downgraded by GMP Securities.
More notable recent Canadian Western Bank (TSE:CWB) news were published by: Business.Financialpost.com which released: “Canadian Western Bank reignites concerns about energy loan losses at big banks” on May 03, 2016, also Theglobeandmail.com with their article: “Canadian Western Bank profit tumbles on higher loan loss provisions” published on June 02, 2016, Fool.ca published: “Canadian Western Bank Is Not a Value Trap” on January 07, 2016. More interesting news about Canadian Western Bank (TSE:CWB) were released by: Business.Financialpost.com and their article: “Terra Energy Corp shuts down operations after Canadian Western Bank demands …” published on March 21, 2016 as well as Business.Financialpost.com‘s news article titled: “The market may have it wrong on Canadian Western Bank” with publication date: September 30, 2015.
Canadian Western Bank is a Canada bank that offers personal and business banking. The company has a market cap of $2.66 billion. The Bank is engaged in the business of commercial, equipment financing, real estate construction financing and energy lending. It has a 13.11 P/E ratio. It offers personal banking services, including savings accounts, mortgages, home equity lines of credit, personal loans and investment products through its branch network across Western Canada.
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