Scotiabank Reiterates Their Hold Rating on Canadian Western Bank (CWB)

By Austin Angelo

Shares of Canadian Western Bank (CWBResearch Report) were revisited by a Wall Street analyst yesterday. Analyst Sumit Malhotra from Scotiabank reiterated a Hold rating, with a C$33 price target.

According to TipRanks.com, Malhotra is a 4-star analyst with an average return of 5.4% and a 60.1% success rate. Malhotra covers the Financial sector, focusing on stocks such as Canadian Bank of Commerce, Manulife Financial Corp, and National Bank of Canada.

Currently, the analyst consensus on Canadian Western Bank is a Moderate Buy with an average price target of C$34.

Canadian Western Bank’s market cap is currently C$2.75B and has a P/E ratio of 10.6. The company has a Price to Book ratio of 1.19.

Canadian Western Bank engages in the provision of business banking services for small and medium-sizes companies. It provides general commercial banking, financing for commercial real estate and real estate construction.

The company’s shares closed on Thursday at C$30.95.