04:30:25 EDT Thu 28 Mar 2024
Enter Symbol
or Name
USA
CA



Canadian Western Bank
Symbol CWB
Shares Issued 88,498,915
Close 2018-01-19 C$ 40.55
Market Cap C$ 3,588,631,003
Recent Sedar Documents

Globe says Stogdill rates Canadian Western Bank "hold"

2018-01-22 07:45 ET - In the News

The Globe and Mail reports in its Saturday, Jan. 20, edition that Credit Suisse analyst Nick Stogdill says in a sector forecast report released Friday that Canadian banks are enjoying momentum heading into 2018. The Globe's David Leeder writes in the Eye On Equities column that Mr. Stogdill rates Canadian Western Bank ($40.55) "neutral." He boosted his share target to $40 from $37. Analysts on average target the shares at $39.64. Mr. Stogdill says in a note, "In our view, a 'neutral' rating is still warranted for CWB: (1) the economic outlook for Western Canada is improving but the lending environment remains challenging; (2) non-relationship based Alt-A mortgages have been a key driver of growth; and (3) the stock is expensive at 1.5 times price-to-book relative to a sub-12-per-cent ROE [return on equity] and we believe deployment of excess capital is needed to justify this valuation." The Globe reported on Nov. 1 that Desjardins Capital Markets analyst Doug Young rated Canadian Western "hold." The shares were then worth $36.34. The Globe reported on Dec. 11 that Canaccord Genuity analyst Scott Chan maintained his rating on the bank at "hold," with a $38 share target. The shares could then be had for $37.94.

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