National Bank Reaffirms Their Hold Rating on Canadian Western Bank (CWB)

By Carrie Williams

Canadian Western Bank (CWBResearch Report) has received a rating update from a Wall Street analyst today. Analyst Gabriel Dechaine from National Bank remains neutral on the stock and has a C$32 price target.

According to TipRanks.com, Dechaine is a 5-star analyst with an average return of 9.1% and a 66.9% success rate. Dechaine covers the Financial sector, focusing on stocks such as Canadian Bank of Commerce, Manulife Financial Corp, and Toronto Dominion Bank.

The word on The Street in general, suggests a Hold analyst consensus rating for Canadian Western Bank with a C$33.89 average price target, implying a 28.5% upside from current levels. In a report issued on November 26, Scotiabank also downgraded the stock to Hold with a C$34 price target.

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Canadian Western Bank’s market cap is currently C$2.37B and has a P/E ratio of 9.6. The company has a Price to Book ratio of 1.03.

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$26.37, close to its 52-week low of C$25.31.