In a report released today, Sumit Malhotra from Scotiabank maintained a Hold rating on Canadian Western Bank (CBWBF), with a price target of C$33.00. The company’s shares closed last Thursday at $22.16.
According to TipRanks.com, Malhotra is a 5-star analyst with an average return of 12.4% and a 72.6% success rate. Malhotra covers the Financial sector, focusing on stocks such as National Bank of Canada, Toronto Dominion Bank, and Royal Bank Of Canada.
Canadian Western Bank has an analyst consensus of Moderate Buy, with a price target consensus of $23.42, implying a 4.6% upside from current levels. In a report issued on November 13, RBC Capital also maintained a Hold rating on the stock with a C$28.00 price target.
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Based on Canadian Western Bank’s latest earnings release for the quarter ending July 31, the company reported a quarterly revenue of $226 million and net profit of $67.66 million. In comparison, last year the company earned revenue of $218 million and had a net profit of $76.37 million.
Based on the recent corporate insider activity of 44 insiders, corporate insider sentiment is neutral on the stock.
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Canadian Western Bank engages in the provision of banking services for small and medium size companies. The firm provides commercial banking and financial services for business banking, personal banking or wealth management. It also offers full-service personal banking options, including checking and savings accounts, loans, mortgages, and investment products. The company was founded by Charles R. Allard and Eugene Pechet on March 22, 1984 and is headquartered in Edmonton, Canada.