Canadian Western Bank (CWB) Receives a Sell from Barclays
Yesterday, an analyst has provided a rating update for Canadian Western Bank (CWB). Barclays’ analyst John Aiken reiterates their Sell rating on the shares, with a C$27 price target.
According to TipRanks.com, Aiken is currently ranked with no stars on a 0-5 star ranking scale, with an average return of -3.1% and a 35.1% success rate. Aiken covers the Financial sector, focusing on stocks such as Canadian Bank of Commerce, National Bank of Canada, and Toronto Dominion Bank.
Canadian Western Bank has an analyst consensus of Moderate Buy, with a price target consensus of C$34.14.
Based on Canadian Western Bank’s latest earnings release for the quarter ending July 31, the company reported a quarterly net profit of C$65.93 million. In comparison, last year the company had a net profit of C$64.4 million.
Canadian Western Bank engages in the provision of business banking services for small and medium-sizes companies. The firm provides general commercial banking; equipment financing and leasing; commercial real estate financing; real estate construction financing; and energy lending.
The company’s shares closed on Friday at C$27.28, close to its 52-week low of C$25.31.