Canadian Western Bank

CWB-T

TSE:CWB

23.38
0.57 (2.38%)
The Canadian Western Bank is a bank that is based in Edmonton, and which operates primarily in western Canada. The bank serves personal and commercial clients in Western Canada.
More at Wikipedia

Analysis and Opinions about CWB-T

Signal
Opinion
Expert
TOP PICK
TOP PICK
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%.

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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%.

DON'T BUY
DON'T BUY
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.

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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.

WAIT
WAIT
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.

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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.

COMMENT
COMMENT
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.)

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

BUY
BUY
October 8, 2015

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.

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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.

PAST TOP PICK
PAST TOP PICK
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.

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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.

WEAK BUY
WEAK BUY
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.

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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.

DON'T BUY
DON'T BUY
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.

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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.

WATCH
WATCH
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.

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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.

PARTIAL BUY
PARTIAL BUY
September 11, 2015

His preferred pick would be Toronto Dominion (TD-T) because of their access to the US and the revenue that is coming out of there. This is a bank that traditionally always trades at a premium of all the banks, because of the growth profile. It is currently trading at a discount. This is the bank that is going to perform the best when interest rates start to rise. Nibbling away at this would be a good investment for the long-term.

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Canadian Western Bank (CWB-T)
September 11, 2015

His preferred pick would be Toronto Dominion (TD-T) because of their access to the US and the revenue that is coming out of there. This is a bank that traditionally always trades at a premium of all the banks, because of the growth profile. It is currently trading at a discount. This is the bank that is going to perform the best when interest rates start to rise. Nibbling away at this would be a good investment for the long-term.

HOLD
HOLD
July 15, 2015

This wouldn’t have the exposure to Eastern Canadian lending, but it does have Vancouver lending in its mix. Also, has Alberta exposure, which is the weakest province from an economic standpoint. Stock has been hit quite hard, but he wouldn’t be a buyer here. (See Top Picks.)

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This wouldn’t have the exposure to Eastern Canadian lending, but it does have Vancouver lending in its mix. Also, has Alberta exposure, which is the weakest province from an economic standpoint. Stock has been hit quite hard, but he wouldn’t be a buyer here. (See Top Picks.)

COMMENT
COMMENT
June 15, 2015

This has really underperformed because of their exposure to Alberta, although he doesn’t know if that is fair. Have raised their dividend. Probably worth another look. A good one for the long-term. (He owns some of their preferred shares and some of their fixed income.)

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This has really underperformed because of their exposure to Alberta, although he doesn’t know if that is fair. Have raised their dividend. Probably worth another look. A good one for the long-term. (He owns some of their preferred shares and some of their fixed income.)

COMMENT
COMMENT
June 10, 2015

An interesting story. The $26 level was pretty relevant back in 2012-2013. It became relevant again at the beginning of this year. If you are a long-term investor, you can buy at this level. You don’t want to see the $26 range broken. Risk/reward is really, really good at this level.

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An interesting story. The $26 level was pretty relevant back in 2012-2013. It became relevant again at the beginning of this year. If you are a long-term investor, you can buy at this level. You don’t want to see the $26 range broken. Risk/reward is really, really good at this level.

COMMENT
COMMENT
June 8, 2015

An underperformer relative to the other banks. We have slipped into a territory where, year to date, most banks are slightly in negative territory on a price point, but this one far more than the others. Despite that in the recent quarter, their provision for credit losses, seem to be holding up fairly well up. However, on a multiple basis, it doesn’t look exceedingly cheap relative to the other banks, except maybe on a Price to book basis. As the fallout from low energy prices reverberates through the economy, it is going to affect loan losses. Because of its much lower yield, he would prefer other banks. For a longer term play, it is not a bad place to be.

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An underperformer relative to the other banks. We have slipped into a territory where, year to date, most banks are slightly in negative territory on a price point, but this one far more than the others. Despite that in the recent quarter, their provision for credit losses, seem to be holding up fairly well up. However, on a multiple basis, it doesn’t look exceedingly cheap relative to the other banks, except maybe on a Price to book basis. As the fallout from low energy prices reverberates through the economy, it is going to affect loan losses. Because of its much lower yield, he would prefer other banks. For a longer term play, it is not a bad place to be.

TOP PICK
TOP PICK
June 3, 2015

This has been tarred with the oil collapse so it is off 28% in the last year. Even though it has been much more oil concentrated in the past, it knows its business and it runs it really well. Yield of 1.94%.

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This has been tarred with the oil collapse so it is off 28% in the last year. Even though it has been much more oil concentrated in the past, it knows its business and it runs it really well. Yield of 1.94%.

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