Canadian Western Bank | StockChase
204
Canadian Western Bank (CWB-T)

Last Price Recorded: $37.2200 on 2017-12-14

ON STOCKCHASE SINCE Jan 2001

banks
204
Canadian Western Bank (CWB-T)

Last Price Recorded: $37.2200 on 2017-12-14

ON STOCKCHASE SINCE Jan 2001


Canadian Western Bank


Signal Opinion Expert
PAST TOP PICK
Canadian Western Bank(CWB-T) 

October 19, 2016

(A Top Pick June 3/15. Down 6.69%.) Given what is happening in Alberta and with the Alberta housing market, this is down. They bought a vehicle financing business, and sold off their custodian and their PNC insurance business. He still likes it.

banks

(A Top Pick June 3/15. Down 6.69%.) Given what is happening in Alberta and with the Alberta housing market, this is down. They bought a vehicle financing business, and sold off their custodian and their PNC insurance business. He still likes it.

banks
Gavin Graham

Trustee, Pointbreak ETFs...

PricePrice
$25.390
Owned Owned
Yes

PAST TOP PICK

(A Top Pick Nov 24/15. Down 1.28%.) Short. (A pairs trade with a Long on Callidus Capital (CBL-T).)

banks

(A Top Pick Nov 24/15. Down 1.28%.) Short. (A pairs trade with a Long on Callidus Capital (CBL-T).)

banks
Jerome Hass

Portfolio Manager, Lightwater Partners...

PricePrice
$24.370
Owned Owned
Yes

SELL
Canadian Western Bank(CWB-T) 

September 23, 2016

(Market Call Minute.) Oil and gas.

banks

(Market Call Minute.) Oil and gas.

banks
John Stephenson

President & CEO, Stephenson & Company...

PricePrice
$25.150
Owned Owned
Unknown

COMMENT

Canadian Banks were really superstars this last quarter. A lot of that had to do with them being overly pessimistic regarding provisions for credit losses, particularly relating to the energy industry. This bank would be even more so. Trades at a significant discount to the rest of the group. Given the way the dynamics for oil is playing out, the forward curve for crude, you are probably going to be in a good scenario for the next 6-12 months with this bank.

banks

Canadian Banks were really superstars this last quarter. A lot of that had to do with them being overly pessimistic regarding provisions for credit losses, particularly relating to the energy industry. This bank would be even more so. Trades at a significant discount to the rest of the group. Given the way the dynamics for oil is playing out, the forward curve for crude, you are probably going to be in a good scenario for the next 6-12 months with this bank.

banks
Mohsin Bashir

VP Investments, Stone Asset Manageme...

PricePrice
$26.330
Owned Owned
Unknown

DON'T BUY

Because it is one of the smaller banks with a lot of exposure to Alberta, the stock sold off. Earnings growth rate has come down quite a bit, so multiples have contracted as well. You could play the larger banks where you don’t have that concentration risk in terms of Alberta. Feels the next couple of quarters could be difficult for them. Had sold his holdings.

banks

Because it is one of the smaller banks with a lot of exposure to Alberta, the stock sold off. Earnings growth rate has come down quite a bit, so multiples have contracted as well. You could play the larger banks where you don’t have that concentration risk in terms of Alberta. Feels the next couple of quarters could be difficult for them. Had sold his holdings.

banks
Peter Imhof

Vice President & Portfolio Manager, AGF Investments Inc...

PricePrice
$25.860
Owned Owned
No

SELL

(Market Call Minute.) Take your money and run.

banks

(Market Call Minute.) Take your money and run.

banks
John Stephenson

President & CEO, Stephenson & Company...

PricePrice
$25.550
Owned Owned
Unknown

BUY on WEAKNESS

The correlation with this bank and energy prices, etc. is what this bank is all about. It is a proxy for Shorting the energy sector. He doesn’t like this one at this time. Expects oil to hit $40 before it hit $60, and therefore potential weakness. Can see a probable 10% downside, at which point he would think about buying if you want a longer-term play on the recovery story of Fort McKenzie.

banks

The correlation with this bank and energy prices, etc. is what this bank is all about. It is a proxy for Shorting the energy sector. He doesn’t like this one at this time. Expects oil to hit $40 before it hit $60, and therefore potential weakness. Can see a probable 10% downside, at which point he would think about buying if you want a longer-term play on the recovery story of Fort McKenzie.

banks
Larry Berman CFA, CMT, CTA

Chief Investment Officer, Partner, ETF Capital Manageme...

PricePrice
$26.320
Owned Owned
Unknown

TOP PICK

*SHORT* His concern is driven by what happened with them in the last downturn. It took 8 quarters from the start of the last recession before impaired loans peaked, and 17 quarters to get down to the pre-recession levels. We are only 4 quarters into that, and he sees a tripling of their loan provisions coming forward, and another 3.5 years ahead. Dividend yield of 3.45%.

banks

*SHORT* His concern is driven by what happened with them in the last downturn. It took 8 quarters from the start of the last recession before impaired loans peaked, and 17 quarters to get down to the pre-recession levels. We are only 4 quarters into that, and he sees a tripling of their loan provisions coming forward, and another 3.5 years ahead. Dividend yield of 3.45%.

banks
Jerome Hass

Portfolio Manager, Lightwater Partners...

PricePrice
$26.550
Owned Owned
Yes

COMMENT

Just reported in the last day or 2. People were looking for really bad news, and he feels they surprised the street by coming out with much better results than expected. Although provisions for credit losses went up to 78 basis points from 18 last quarter, it wasn’t as bad as people thought it could be. You have to ask yourself if you want to ride out the fact that they are an Alberta-based bank in the current environment, when you can get a better yield at competitive pricing with their larger competitors. He would rather take the yield advantage of some of their peers. (See Top Picks.)

banks

Just reported in the last day or 2. People were looking for really bad news, and he feels they surprised the street by coming out with much better results than expected. Although provisions for credit losses went up to 78 basis points from 18 last quarter, it wasn’t as bad as people thought it could be. You have to ask yourself if you want to ride out the fact that they are an Alberta-based bank in the current environment, when you can get a better yield at competitive pricing with their larger competitors. He would rather take the yield advantage of some of their peers. (See Top Picks.)

banks
Michael Sprung

President, Sprung Investment Ma...

PricePrice
$25.940
Owned Owned
No

BUY

(Market Call Minute.) This is the most sensitive when rates go up. It is one you want to own, but you have to have a bit of patience.

banks

(Market Call Minute.) This is the most sensitive when rates go up. It is one you want to own, but you have to have a bit of patience.

banks
Steve DiGregorio

Portfolio Manager, Canoe Financial...

PricePrice
$25.810
Owned Owned
Unknown

DON'T BUY

His macro view is that structurally energy could be tough for a longtime.  He does not like something that is broken and that you hope is fine.  He prefers outside of Western Canada.

banks

His macro view is that structurally energy could be tough for a longtime.  He does not like something that is broken and that you hope is fine.  He prefers outside of Western Canada.

banks
David Burrows

President & Chief Investment Strategist, Barometer Capital Ma...

PricePrice
$25.900
Owned Owned
Unknown

WAIT

(Market Call Minute.) Hold off on this for another couple of quarters until you see if the Alberta Renaissance gets a little better. Would prefer Toronto Dominion (TD-T) right now.

banks

(Market Call Minute.) Hold off on this for another couple of quarters until you see if the Alberta Renaissance gets a little better. Would prefer Toronto Dominion (TD-T) right now.

banks
Bruce Campbell (1)

President, Campbell and Lee Inv...

PricePrice
$27.840
Owned Owned
Unknown

COMMENT

Preferreds, Series B.  They had to issue them with quite a high interest rate.  Shareholders of previous issues want to sell and buy this one.

banks

Preferreds, Series B.  They had to issue them with quite a high interest rate.  Shareholders of previous issues want to sell and buy this one.

banks
Lyle Stein

Sr. Portfolio & Managing Director, Vestcap Investment M...

PricePrice
$24.150
Owned Owned
Unknown

DON'T BUY

The banks are all quite attractively priced.  She likes her Top Pick today as well as TD-T for their US exposure.  CWB-T is exposed to Western Canada.

banks

The banks are all quite attractively priced.  She likes her Top Pick today as well as TD-T for their US exposure.  CWB-T is exposed to Western Canada.

banks
Christine Poole

CEO & Managing Director, GlobeInvest Capital ...

PricePrice
$23.890
Owned Owned
No

COMMENT

Tough going right now out West, and as a result banks lending primarily to Western provinces are having some troubles. Historically a very well-run company, solid business and diversified, but in the current territories they are in a bit of trouble. Stock has been beaten down a long way. From a loan loss point of view, you can expect to see some losses showing up. He would prefer to see a bottoming in the Western economy before he got aggressive on this.

banks

Tough going right now out West, and as a result banks lending primarily to Western provinces are having some troubles. Historically a very well-run company, solid business and diversified, but in the current territories they are in a bit of trouble. Stock has been beaten down a long way. From a loan loss point of view, you can expect to see some losses showing up. He would prefer to see a bottoming in the Western economy before he got aggressive on this.

banks
Jim Huang

President, T.I.P. Wealth Manage...

PricePrice
$20.480
Owned Owned
Unknown

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