The Chairman of Canadian Western Bank (Other OTC: CBWBF) is Buying Shares

By Carrie Williams

Today, the Chairman of Canadian Western Bank (CBWBFResearch Report), Robert L Phillips, bought shares of CBWBF for $61.88K.

Following Robert L Phillips’ last CBWBF Buy transaction on March 18, 2020, the stock climbed by 12.5%. This recent transaction increases Robert L Phillips’ holding in the company by 5% to a total of $951.9K.

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Based on Canadian Western Bank’s latest earnings report for the quarter ending October 31, the company posted quarterly revenue of $228 million and quarterly net profit of $68.79 million. In comparison, last year the company earned revenue of $221 million and had a net profit of $72.92 million. The company has a one-year high of $25.73 and a one-year low of $11.02. Currently, Canadian Western Bank has an average volume of 240.

Based on 11 analyst ratings, the analyst consensus is Moderate Buy with an average price target of $25.67, reflecting a -5.4% downside. Four different firms, including Raymond James and Desjardins, currently also have a Buy rating on the stock.

In the last 30 days, insiders have sold $180.7K worth of CBWBF shares and purchased $61.88K worth of CBWBF shares. The insider sentiment on Canadian Western Bank has been neutral according to 45 insider trades in the past three months. This sentiment is slightly lower than the average sentiment of company insiders in this sector.

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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.