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
COMMENT
Canadian Western Bank(CWB-T) 

February 8, 2016

This bank had a great run over the previous 10 years, but has gone through a rough patch recently. He is Short this, largely because of its exposure to Western Canada. Thinks there is a rough patch coming. If you look at how they performed in 2008-2009, a lot of the provisions really didn’t come in until late 2009, and carried on until 2011. Feels the market is not anticipating some of the issues they are going to have. Also, in the last conference call, they have a very substantial “preferred share book” which has been very hard hit. They did not take a write down to that portfolio, but it they wrote it down to its current market value, it would essentially wipe out at least the last quarter if not more in terms of earnings. He can still see a 10%-20% downside.

banks

This bank had a great run over the previous 10 years, but has gone through a rough patch recently. He is Short this, largely because of its exposure to Western Canada. Thinks there is a rough patch coming. If you look at how they performed in 2008-2009, a lot of the provisions really didn’t come in until late 2009, and carried on until 2011. Feels the market is not anticipating some of the issues they are going to have. Also, in the last conference call, they have a very substantial “preferred share book” which has been very hard hit. They did not take a write down to that portfolio, but it they wrote it down to its current market value, it would essentially wipe out at least the last quarter if not more in terms of earnings. He can still see a 10%-20% downside.

banks
Jerome Hass

Portfolio Manager, Lightwater Partners...

PricePrice
$22.160
Owned Owned
Yes

COMMENT
Canadian Western Bank(CWB-T) 

January 12, 2016

Because of its geographic concentration, and that all of the banks have underperformed, she would rather buy one of the larger ones. Dividend yield of 4.4%.

banks

Because of its geographic concentration, and that all of the banks have underperformed, she would rather buy one of the larger ones. Dividend yield of 4.4%.

banks
Christine Poole

CEO & Managing Director, GlobeInvest Capital ...

PricePrice
$21.030
Owned Owned
Unknown

BUY on WEAKNESS

Earnings expectations set it at 8.6 times, which is very low.  But there could be another 10% down in the stock if oil stays low much longer.  It is an energy trade and will recover proportionately if oil does.  You could nibble away here.

banks

Earnings expectations set it at 8.6 times, which is very low.  But there could be another 10% down in the stock if oil stays low much longer.  It is an energy trade and will recover proportionately if oil does.  You could nibble away here.

banks
Larry Berman CFA, CMT, CTA

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

PricePrice
$23.510
Owned Owned
Unknown

COMMENT
Canadian Western Bank(CWB-T) 

December 30, 2015

Has been punished because everybody thinks that every loan in Alberta is going to go under. That just isn’t the case. You are buying this at about 8X earnings compared to other bank stocks where you are paying 10X or 10.5X earnings. You’ll get a 1% multiple bump over a 5-7 year period, and you are probably going to get a nice growth bump, because the earnings that are not going down will show enhanced growth as Alberta recovers. This is exactly what a contrarian investor would be looking at. Dividend yield of 3.8%.

banks

Has been punished because everybody thinks that every loan in Alberta is going to go under. That just isn’t the case. You are buying this at about 8X earnings compared to other bank stocks where you are paying 10X or 10.5X earnings. You’ll get a 1% multiple bump over a 5-7 year period, and you are probably going to get a nice growth bump, because the earnings that are not going down will show enhanced growth as Alberta recovers. This is exactly what a contrarian investor would be looking at. Dividend yield of 3.8%.

banks
Lyle Stein

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

PricePrice
$23.700
Owned Owned
Unknown

DON'T BUY
Canadian Western Bank(CWB-T) 

December 10, 2015

It has not had a good year and is less expensive now.  The problem is the exposure to lending in Western Canada.  There were not a tremendous amount of debt restructurings in 2015 so he is cautious the longer oil stays low.

banks

It has not had a good year and is less expensive now.  The problem is the exposure to lending in Western Canada.  There were not a tremendous amount of debt restructurings in 2015 so he is cautious the longer oil stays low.

banks
Bruce Tatters

Founding Partner and CIO, Triumph Asset Manage...

PricePrice
$23.170
Owned Owned
Unknown

DON'T BUY
Canadian Western Bank(CWB-T) 

November 25, 2015

(Market Call Minute.) This has suffered from a slowdown out West. It is the middle of the pack for him. Has an okay yield. There is no compelling reason to own this when some of the other banks are trading at some of the same valuations.

banks

(Market Call Minute.) This has suffered from a slowdown out West. It is the middle of the pack for him. Has an okay yield. There is no compelling reason to own this when some of the other banks are trading at some of the same valuations.

banks
Jason Mann

CIO & Co-Founder, Edgehill Patners...

PricePrice
$25.580
Owned Owned
No

TOP PICK
Canadian Western Bank(CWB-T) 

November 24, 2015

Short. (A pairs trade with a Long on Callidus Capital (CBL-T).) This is essentially to take out some of the market specific risk and industry specific risk. Dividend yield of 3.41%.

banks

Short. (A pairs trade with a Long on Callidus Capital (CBL-T).) This is essentially to take out some of the market specific risk and industry specific risk. Dividend yield of 3.41%.

banks
Jerome Hass

Portfolio Manager, Lightwater Partners...

PricePrice
$25.810
Owned Owned
Yes

DON'T BUY
Canadian Western Bank(CWB-T) 

November 16, 2015

Banks in general may be soft for a year or two.  He would prefer ZWB-T, which does not own CWB-T.  He would not step into ZWB-T yet.

banks

Banks in general may be soft for a year or two.  He would prefer ZWB-T, which does not own CWB-T.  He would not step into ZWB-T yet.

banks
Larry Berman CFA, CMT, CTA

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

PricePrice
$25.330
Owned Owned
No

WAIT
Canadian Western Bank(CWB-T) 

November 6, 2015

This bank is so tied to the energy complex in the west and the western economy, there is probably going to be a little bit of rough water before calm seas set in. He would be more comfortable buying one of the bigger banks, as they are breaking out of their technical formations, meaning they are making better money. Watch the loan loss provisions get built into the big banks when they report in a month. If they start to go way up, that augurs poorly for this bank.

banks

This bank is so tied to the energy complex in the west and the western economy, there is probably going to be a little bit of rough water before calm seas set in. He would be more comfortable buying one of the bigger banks, as they are breaking out of their technical formations, meaning they are making better money. Watch the loan loss provisions get built into the big banks when they report in a month. If they start to go way up, that augurs poorly for this bank.

banks
Rick Stuchberry

Portfolio Manager, Richardson GMP...

PricePrice
$25.510
Owned Owned
No

COMMENT
Canadian Western Bank(CWB-T) 

November 4, 2015

This has been unduly hit because of Alberta. He is trying to figure out how to play the Alberta recovery. (See Top Picks.)

banks

This has been unduly hit because of Alberta. He is trying to figure out how to play the Alberta recovery. (See Top Picks.)

banks
Lyle Stein

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

PricePrice
$25.050
Owned Owned
No

BUY

It has been hit by the energy price.  This one is down more because of where they are.  It is a well managed bank.  He has no problem with the stock.

banks

It has been hit by the energy price.  This one is down more because of where they are.  It is a well managed bank.  He has no problem with the stock.

banks
Douglas Kee

Chief Investment Officer, Leon Frazer & Associ...

PricePrice
$26.500
Owned Owned
No

PAST TOP PICK
Canadian Western Bank(CWB-T) 

September 22, 2015

(A Top Pick May 22/14. Down 33.35%.) Thinks the selloff has been overdone. This bank trades with oil. 40% of its assets are in Alberta. Last quarter earnings were quite good. It has sub-20 provisions for credit losses, which is well below all the other banks. Trading close to BV, and with a 3-5 year time horizon, it is a great buy.

banks

(A Top Pick May 22/14. Down 33.35%.) Thinks the selloff has been overdone. This bank trades with oil. 40% of its assets are in Alberta. Last quarter earnings were quite good. It has sub-20 provisions for credit losses, which is well below all the other banks. Trading close to BV, and with a 3-5 year time horizon, it is a great buy.

banks
Todd Johnson

Portfolio Manager, BCV Asset Management...

PricePrice
$23.860
Owned Owned
Yes

WEAK BUY
Canadian Western Bank(CWB-T) 

September 21, 2015

A lot of equipment financing.  He thinks reserves for loan losses will go up.  If you have patience and can handle some volatility, it will pay off, even at these levels.

banks

A lot of equipment financing.  He thinks reserves for loan losses will go up.  If you have patience and can handle some volatility, it will pay off, even at these levels.

banks
Jeff Young

Co-CEO & CIO, NexGen Financial...

PricePrice
$23.900
Owned Owned
No

DON'T BUY
Canadian Western Bank(CWB-T) 

September 15, 2015

To some extent, he thinks the market has been unduly harsh, but it is really viewed as one of the best pure proxies on the economy in Western Canada. As a consequence there have been a lot of Shorts on the name. Believes it is one of the worst performing Canadian banks over the last 12 months, and doesn’t see that changing in the near future.

banks

To some extent, he thinks the market has been unduly harsh, but it is really viewed as one of the best pure proxies on the economy in Western Canada. As a consequence there have been a lot of Shorts on the name. Believes it is one of the worst performing Canadian banks over the last 12 months, and doesn’t see that changing in the near future.

banks
Jerome Hass

Portfolio Manager, Lightwater Partners...

PricePrice
$23.260
Owned Owned
No

WATCH
Canadian Western Bank(CWB-T) 

September 14, 2015

Very regional player.  Banks came down recently.  When oil turns around, this will tend to lead banks.  A steeper yield curve would be better for all banks, if interest rates start to rise.

banks

Very regional player.  Banks came down recently.  When oil turns around, this will tend to lead banks.  A steeper yield curve would be better for all banks, if interest rates start to rise.

banks
Larry Berman CFA, CMT, CTA

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

PricePrice
$22.540
Owned Owned
Unknown

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