Canadian Western Bank

CWB-T

TSE:CWB

33.50
0.06 (0.18%)
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.
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Analysis and Opinions about CWB-T

Signal
Opinion
Expert
COMMENT
COMMENT
June 1, 2015

Probably got hit a little bit more than it should have, given their long-term track record of being pretty good about managing through energy downturns. They tend not to be overly exposed to retail. Loan losses have ticked up, but not incredibly. A one-year target would be $30-$32.

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Probably got hit a little bit more than it should have, given their long-term track record of being pretty good about managing through energy downturns. They tend not to be overly exposed to retail. Loan losses have ticked up, but not incredibly. A one-year target would be $30-$32.

COMMENT
COMMENT
May 22, 2015

Very much a local Alberta bank, and is so focused in that area that when you see a slowdown going, you have to look at who they lend the money to. There is a higher risk than with other banks, and the market is reflecting that.

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Very much a local Alberta bank, and is so focused in that area that when you see a slowdown going, you have to look at who they lend the money to. There is a higher risk than with other banks, and the market is reflecting that.

WATCH
WATCH
May 11, 2015

It tends to be levered to the success of Alberta and Western Canada. This one took a hard hit when oil prices rolled over. You have to ask if oil has bottomed. He thinks it will range between $40 and $65. If it gets near the lows it makes sense to accumulate, but don’t expect a massive recovery.

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It tends to be levered to the success of Alberta and Western Canada. This one took a hard hit when oil prices rolled over. You have to ask if oil has bottomed. He thinks it will range between $40 and $65. If it gets near the lows it makes sense to accumulate, but don’t expect a massive recovery.

COMMENT
COMMENT
May 11, 2015

Practically anything that is in Western Canada, people will see ghosts. This probably provides an opportunity for this bank. Importantly it doesn’t have much direct exposure to oil/gas accounts. It was unduly hit.

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Practically anything that is in Western Canada, people will see ghosts. This probably provides an opportunity for this bank. Importantly it doesn’t have much direct exposure to oil/gas accounts. It was unduly hit.

WAIT
WAIT
March 18, 2015

Has been punished in this energy downturn. There is some sort of opportunity emerging here, because this isn’t a business that is entirely dependent on oil production itself. It is dependent on the customers that are out there in that space. E&P companies have been out consolidating and shoring up their balance sheets. Eventually there is going to be a point where a lot of these assets and a lot of these businesses are going to be up for sale at bargain prices. Over the long term, you probably have an opportunity with this bank. Wait for an oil price improvement first.

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Has been punished in this energy downturn. There is some sort of opportunity emerging here, because this isn’t a business that is entirely dependent on oil production itself. It is dependent on the customers that are out there in that space. E&P companies have been out consolidating and shoring up their balance sheets. Eventually there is going to be a point where a lot of these assets and a lot of these businesses are going to be up for sale at bargain prices. Over the long term, you probably have an opportunity with this bank. Wait for an oil price improvement first.

BUY WEAKNESS
BUY WEAKNESS
March 17, 2015

He was interested in it when he took a look yesterday. It is cheaper than the other Canadian banks. The earnings forecasts have held out recently for Canadian banks so this one is not getting itself into trouble. He would prefer a little more dividend, but it is getting value. At $24 he would like it a lot.

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He was interested in it when he took a look yesterday. It is cheaper than the other Canadian banks. The earnings forecasts have held out recently for Canadian banks so this one is not getting itself into trouble. He would prefer a little more dividend, but it is getting value. At $24 he would like it a lot.

COMMENT
COMMENT
March 13, 2015

This bank is off 20% in the last year. It is well-run and conservatively run, but is down purely on sentiment because of the oil patch. They are not nearly as exposed to energy as people think. Thinks it is on sale. Probably worth looking at.

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This bank is off 20% in the last year. It is well-run and conservatively run, but is down purely on sentiment because of the oil patch. They are not nearly as exposed to energy as people think. Thinks it is on sale. Probably worth looking at.

WAIT
WAIT
March 11, 2015

This bank is very influenced by what is going on out west, and energy has not been a great place to be. It is coming back to the $26 support level that it had seen a couple of times since 2012. You want to see a successful test off of that. It looks like it is trying to bounce off the $26 level, but he would give it a bit more time.

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This bank is very influenced by what is going on out west, and energy has not been a great place to be. It is coming back to the $26 support level that it had seen a couple of times since 2012. You want to see a successful test off of that. It looks like it is trying to bounce off the $26 level, but he would give it a bit more time.

DON'T BUY
DON'T BUY
February 5, 2015

This is a great bank, but has taken more of a hit than the other banks. Because they know they are in the middle of oil and gas country, they avoid direct lending to oil/gas companies and keep it quite low. Nonetheless, they are tangentially affected. This bank is off, but not often enough to give really excited about it. Their earnings will be fine, but he doesn’t think the stock will go anywhere significant for the next little while.

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This is a great bank, but has taken more of a hit than the other banks. Because they know they are in the middle of oil and gas country, they avoid direct lending to oil/gas companies and keep it quite low. Nonetheless, they are tangentially affected. This bank is off, but not often enough to give really excited about it. Their earnings will be fine, but he doesn’t think the stock will go anywhere significant for the next little while.

WATCH
WATCH
January 26, 2015

One of the smaller Canadian banks. He is cautious on it right now. You want to see loan loss provision scale up. Wait for it to get down to a 5% yield.

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One of the smaller Canadian banks. He is cautious on it right now. You want to see loan loss provision scale up. Wait for it to get down to a 5% yield.

WATCH
WATCH
January 19, 2015

Has not been doing well, as have most Canadian banks. This is typical of the seasonality. From November until end of January they don’t do well. Then they do well until the end of April. The trend is on the downside right now. It is below its 20 day moving average and underperforming the TSX. Look at buying it in the next 3-4 weeks if you see signs of it bottoming.

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Has not been doing well, as have most Canadian banks. This is typical of the seasonality. From November until end of January they don’t do well. Then they do well until the end of April. The trend is on the downside right now. It is below its 20 day moving average and underperforming the TSX. Look at buying it in the next 3-4 weeks if you see signs of it bottoming.

DON'T BUY
DON'T BUY
January 2, 2015

He would avoid this bank. It has been a phenomenal name and a phenomenal story for a long time, but they are the most exposed to Alberta. If oil is going to stay down for some time, this bank is the most heavily exposed to Alberta.

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He would avoid this bank. It has been a phenomenal name and a phenomenal story for a long time, but they are the most exposed to Alberta. If oil is going to stay down for some time, this bank is the most heavily exposed to Alberta.

DON'T BUY
DON'T BUY
December 30, 2014

Historically this has traded at a premium to Canadian banks. Given its exposure to Western Canada, you want to be very leery. Doesn’t think this is pricing in a lot of risks and bad debt.

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Historically this has traded at a premium to Canadian banks. Given its exposure to Western Canada, you want to be very leery. Doesn’t think this is pricing in a lot of risks and bad debt.

DON'T BUY
DON'T BUY
December 9, 2014

Doesn’t think the lower stock price is just based on oil and gas lending. The market is worried about the consumer exposure to Western Canada. There have been a series of price increases in homes. Some people have been forced to go out and buy a home, probably at uncomfortable levels. The presumption is that this bank has been a lender to these mortgages, and who knows if these people are going to have a job. Feels that is a legitimate concern. He would be very cautious on this bank.

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Doesn’t think the lower stock price is just based on oil and gas lending. The market is worried about the consumer exposure to Western Canada. There have been a series of price increases in homes. Some people have been forced to go out and buy a home, probably at uncomfortable levels. The presumption is that this bank has been a lender to these mortgages, and who knows if these people are going to have a job. Feels that is a legitimate concern. He would be very cautious on this bank.

DON'T BUY
DON'T BUY
December 4, 2014

Prefers BNS-T because it has the least exposure to the Canadian banking sector. Main exposure is in Latin America and Asia.

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Prefers BNS-T because it has the least exposure to the Canadian banking sector. Main exposure is in Latin America and Asia.

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