Canadian Western Bank (TSE CWB) modified Nov 24, 2009
Please note Targets and Prices prior to Dec 20, 2004 reflect 2 for 1 Split
Recent News: CWB reports strong second quarter and year-to-date financial performance
CWB reports very strong financial performance led by 4% quarterly loan growth
CWB reports strong fourth quarter performance and record results for fiscal 2010
CWB reports record financial results
CWB reports very strong second quarter financial performance
CWB reports exceptional first quarter financial performance
CWB reports record net income and total revenues for the fourth quarter and fiscal 2009
CWB reports solid third quarter earnings on record total revenues
Shubha Khan.....National Bank Financial....June 03, 2011
Maintained SECTOR PERFORM
Target raised to $35.00 from $34.00C
CWB Price day before: $30.69Finish day posting:$30.93Current:$30.93
------Dec 08, 2010------
Downgraded to SECTOR PERFORM from OUTPERFORM
Target raised to $30.00 from $29.00C (Target Hit)
CWB Price day before: $28.19Finish day posting:$28.74Current:$30.93
------June 07, 2010-------
Maintained OUTPERFORM
Target raised to $29.00 from $27.00C (Target Hit Dec 09, 2010)
CWB Price day before: $23.70Finish day posting:$23.16Current:$30.93
-----May 19, 2010-------
New OUTPERFORM
Target $27.00C (Target Hit Nov 30, 2010)
CWB Price day before: $24.00Finish day posting:$24.11Current:$30.93
*************
Jason Bilodeau ........... TD Newcrest........June 03, 2011
Maintained HOLD
Target raised to $34.00 from $33.00C
CWB Price day before: $30.69Finish day posting:$30.93Current:$30.93
--------Mar 03, 2011-------
Maintained HOLD
Target raised to $32.00 from $31.00C
CWB Price day before: $30.49Finish day posting:$30.89Current:$30.93
-------Dec 08, 2010-----
Maintained HOLD
Target raised to $30.00 from $27.00C (Target Hit)
CWB Price day before: $28.19Finish day posting:$28.74Current:$30.93
----------Sept 03, 2010-------
Maintained HOLD
Target raised to $27.00 from $26.00C (Target Hit Nov 30 , 2010)
CWB Price day before: $25.25Finish day posting:$25.00Current:$30.93
-------May 13, 2010--------
Maintained HOLD
Target raised to $26.00 from $25.00C (Target Hit July 28, 2010)
CWB Price day before: $23.48Finish day posting:$23.46Current:$30.93
-----Mar 05, 2010-----
Maintained HOLD
Target raised to $25.00 from $24.00C (Target Hit Apr 09, 2010)
CWB Price day before: $22.00Finish day posting:$22.85Current:$30.93
-----Dec 10, 2009--------
Maintained HOLD
Target $24.00 (Target Hit)
CWB Price day before: $21.89Finish day posting:$21.87Current:$30.93
--------Nov 11, 2009-------
Maintained HOLD
Target raised to $21.00 from $19.00C
CWB Price day before: $22.20Finish day posting:$22.92Current:$30.93
-------Sept 04, 2009--------
Maintained HOLD
Target $19.50C (Target Hit)
CWB Price day before: $18.36Finish day posting:$18.46Current:$30.93
------June 05, 2009-----
Target raised to $15.00 from $14.00C (Target Hit)
CWB Price day before: $14.69Finish day posting:$15.50Current:$30.93
-----May 08, 2009------
Maintained HOLD
Price Target raised to $14.00 from $13.00
CWB Price day before: $14.20Finish day posting:$14.27Current:$30.93
-------Mar 16, 2009------
Maintained HOLD
Target $13.00 (Target Hit Apr 09, 2009)
CWB Price day before: $9.59Finish day posting:$9.97Current:$30.93
*************
Michael Goldberg .....Credit Desjardins.........June 03, 2011
Maintained BUY
Target raised to $36.00 from $35.00C
CWB Price day before: $30.69Finish day posting:$30.93Current:$30.93
-----Mar 03, 2011--------
Maintained BUY
Target raised to $35.00 from $32.50C
CWB Price day before: $30.49Finish day posting:$30.89Current:$30.93
------Dec 08, 2010------
Maintained BUY
Target raised to $32.50 from $29.50C
CWB Price day before: $28.19Finish day posting:$28.74Current:$30.93
-------Sept 07, 2010------
Maintained BUY
Target raised to $29.50 from $27.25C (Target Hit Dec 10, 2010)
CWB Price day before: $25.00Finish day posting:$24.21Current:$30.93
-------June 07, 2010-----
Maintained BUY
Target raised to $27.25 from $25.00C (Target Hit Dec 01, 2010)
CWB Price day before: $23.70Finish day posting:$23.16Current:$30.93
-------Mar 05, 2010-----
Upgraded to BUY from HOLD
Target raised to $25.00 from $24.00C (Target Hit Apr 09, 2010)
CWB Price day before: $22.00Finish day posting:$22.85Current:$30.93
-----Dec 07, 2009--------
Downgraded to HOLD from BUY
Target raised to $24.00 from $22.00C (Target Hit)
CWB Price day before: $22.49Finish day posting:$22.30Current:$30.93
-------June 05, 2009-------
Target raised to $17.50 from $15.50C (Target Hit June 12, 2009)
CWB Price day before: $14.69Finish day posting:$15.50Current:$30.93
*********
Dave Mun......RBC Capital Markets.........June 01, 2011
Upgraded to OUTPERFORM from SECTOR PERFORM
CWB Price day before: $30.02Finish day posting:$30.77Current:$30.93
-----Mar 03, 2011--------
Maintained SECTOR PERFORM
Target raised to $33.00 from $31.00C
CWB Price day before: $30.49Finish day posting:$30.89Current:$30.93
-----June 07, 2010----
Maintained SECTOR PERFORM
Target raised to $28.00 from $27.00C (Target Hit Dec 07 , 2010)
CWB Price day before: $23.70Finish day posting:$23.16Current:$30.93
-----Mar 05, 2010-----
Target raised to $27.00 from $25.00C (Target Hit Nov 30 , 2010)
CWB Price day before: $22.00Finish day posting:$22.85Current:$30.93
------Nov 30, 2009---
New SECTOR PERFORM
Target $25.00C (Target Hit)
CWB Price day before: $23.48Finish day posting:$22.91Current:$30.93
*************
Ian de Verteuil .........BMO Capital Markets.......Mar 07, 2011
Downgraded to MARKET PERFORM from OUTPERFORM
Target raised to $34.00 from $33.00C
CWB Price day before: $30.81Finish day posting:$30.41Current:$30.93
------Jan 17, 2011---------
Maintained OUTPERFORM
Target raised to $33.00 from $32.00C
CWB Price day before: $29.23Finish day posting:$29.57Current:$30.93
------Dec 08, 2010--------
Maintained OUTPERFORM
Target raised to $32.00 from $29.00C
CWB Price day before: $28.19Finish day posting:$28.74Current:$30.93
------Sept 03, 2010------
Maintained OUTPERFORM
Target raised to $29.00 from $27.00C (Target Hit Dec 09, 2010)
CWB Price day before: $25.25Finish day posting:$25.00Current:$30.93
------Mar 05, 2010------
Maintained OUTPERFORM
Target raised to $27.00 from $25.00C (Target Hit Nov 30, 2010)
CWB Price day before: $22.00Finish day posting:$22.85Current:$30.93
------Dec 07, 2009------
Maintained OUTPERFORM
Target raised to $25.00 from $21.00C (Target Hit Apr 09, 2010)
CWB Price day before: $22.49Finish day posting:$22.30Current:$30.93
------June 05, 2009--------
Upgraded to OUTPERFORM from MARKET PERFORM
Target raised to $17.00 from $10.50C (Target Hit June 12, 2009)
CWB Price day before: $14.69Finish day posting:$15.50Current:$30.93
*************
Kevin Choquette .........Scotia Capital........Mar 04, 2011
Downgraded to SECTOR PERFORM from OUTPERFORM
Target $38.00C
CWB Price day before: $30.89Finish day posting:$30.81Current:$30.93
-------Feb 16, 2011-------
Maintained OUTPERFORM
Target raised to $38.00 from $34.00C
CWB Price day before: $30.89Finish day posting:$31.04Current:$30.93
-------Dec 08, 2010-----
Maintained OUTPERFORM
Target raised to $34.00 from $31.00C
CWB Price day before: $28.19Finish day posting:$28.74Current:$30.93
------Sept 07, 2010--------
Maintained OUTPERFORM
Target raised to $31.00 from $29.00C (Target Hit Feb 08, 2011)
CWB Price day before: $25.00Finish day posting:$24.21Current:$30.93
-------June 11, 2010-------
Upgraded to OUTPERFORM from SECTOR PERFORM
Target raised to $29.00 from $26.00C (Target Hit Dec 09, 2010)
CWB Price day before: $22.00Finish day posting:$22.85Current:$30.93
-------Dec 04, 2009---------
Maintained SECTOR PERFORM
Target raised to $26.00 from $23.00 (Target Hit July 28, 2010)
CWB Price day before: $22.61Finish day posting:$22.49Current:$30.93
-------Sept 04, 2009-------
Maintained SECTOR PERFORM
Target raised to $23.00 from $20.00C (Target Hit Nov 17, 2009)
CWB Price day before: $18.36Finish day posting:$18.46Current:$30.93
------July 29, 2009-----
Maintained SECTOR PERFORM
Target raised to $20.00 from $18.00 (Target Hit Sept 16, 2009)
CWB Price day before: $16.90Finish day posting:$17.20Current:$30.93
--------May 11, 2009-----
Price Target raised to $18.00 from $14.00 (Target Hit June 12, 2009)
CWB Price day before: $14.27Finish day posting:$14.10Current:$30.93
--------Mar 06, 2009-------
Downgraded to SECTOR PERFORM from OUTPERFORM
Target reduced to $14.00 from $18.00 (Target Hit Apr 14, 2009)
CWB Price day before: $9.33Finish day posting:$8.25Current:$30.93
--------Jan 26, 2009-------
Maintained OUTPERFORM
Target reduced to $18.00 from $25.00
CWB Price day before: $11.80Finish day posting:$11.44Current:$30.93
CWB Price day before: $29.50Finish day posting:$30.95Current:$30.93
*************
Robert Sedran ....... CIBC World Markets…….Feb 09, 2011
Maintained SECTOR PERFORM
Target raised to $33.00 from $31.00C
CWB Price day before: $31.02Finish day posting:$30.68Current:$30.93
-------Dec 08, 2010-------
Maintained SECTOR PERFORM
Target raised to $31.00 from $28.00C
CWB Price day before: $28.19Finish day posting:$28.74Current:$30.93
------Nov 09, 2010---------
Upgraded to SECTOR PERFORM from UNDERPERFORM
Target raised to $28.00 from $26.00 (Target Hit Dec 07, 2010)
CWB Price day before: $25.40Finish day posting:$25.83Current:$30.93
*********
Marc Charbin .....Jennings Capital......Dec 08, 2010
Maintained HOLD
Target raised to $30.00 from $25.00C (Target Hit)
CWB Price day before: $28.19Finish day posting:$28.74Current:$30.93
------Sept 02, 2010-------
Maintained HOLD
Target raised to $25.00 from $24.00C
CWB Price day before: $24.50Finish day posting:$25.25Current:$30.93
-----June 07, 2010------
Maintained HOLD
Target raised to $24.00 from $23.00C
CWB Price day before: $23.70Finish day posting:$23.16Current:$30.93
------Mar 05, 2010------
Downgraded to HOLD from BUY
Target reduced to $23.00 from $24.00C (Target Hit)
CWB Price day before: $22.00Finish day posting:$22.85Current:$30.93
------Dec 10, 2009-----
Upgraded to BUY from HOLD
Target raised to $24.00 from $23.00
CWB Price day before: $21.89Finish day posting:$21.87Current:$30.93
------Dec 01, 2009----
Maintained HOLD
Target raised to $23.00 from $19.00 (Target Hit Mar 08, 2010)
CWB Price day before: $18.36Finish day posting:$18.46Current:$30.93
-------Sept 04, 2009--------
Downgraded to HOLD from BUY
Target raised to $19.00 from $18.00
CWB Price day before: $18.36Finish day posting:$18.46Current:$30.93
-------June 18, 2009-------
New BUY
Target $18.00 (Target Hit July 31, 2009)
CWB Price day before: $16.31Finish day posting:$16.88Current:$30.93
************
Stephen Boland .........GMP.......Dec 08, 2010
Maintained HOLD
Target raised to $29.00 from $25.00C (Target Hit)
CWB Price day before: $28.19Finish day posting:$28.74Current:$30.93
-------Sept 07, 2010--------
Maintained HOLD
Target raised to $25.00 from $24.75C
CWB Price day before: $25.00Finish day posting:$24.21Current:$30.93
--------Mar 05, 2010-----
Maintained HOLD
Target raised to $24.75 from $24.00C (Target Hit Apr 09, 2010)
CWB Price day before: $22.00Finish day posting:$22.85Current:$30.93
-----June 05, 2009---
Target raised to $15.50 from $15.00C
CWB Price day before: $14.69Finish day posting:$15.50Current:$30.93
*************
Sumit Malhotra..........Macquarie........May 17, 2010
Upgraded to OUTPERFORM from NEUTRAL
CWB Price day before: $22.86Finish day posting:$22.81Current:$30.93
------Dec 03, 2009-------
Maintained NEUTRAL
Target raised to $22.00 from $21.50
CWB Price day before: $22.96Finish day posting:$22.61Current:$30.93
--------June 11, 2009------
Target raised to $14.50 from $13.75C
CWB Price day before: $16.20Finish day posting:$16.81Current:$30.93
-------June 05, 2009------
Target raised to $13.75 from $12.00C
CWB Price day before: $14.69Finish day posting:$15.50Current:$30.93
************
Gabriel Dechaine .......... Genuity Capital Markets.....Feb 24, 2010
Maintained BUY
Target reduced to $25.00 from $27.00C (Target Hit Apr 09, 2010)
CWB Price day before: $20.18Finish day posting:$20.43Current:$30.93
------Nov 24, 2009--------
Maintained BUY
Target raised to $27.00 from $23.00C
CWB Price day before: $23.65Finish day posting:$23.56Current:$30.93
-----Oct 07, 2009--------
Upgraded to BUY from HOLD
Target raised to $23.00 from $21.00C (Target Hit Nov 17, 2009)
CWB Price day before: $19.91Finish day posting:$20.04Current:$30.93
-------Sept 04, 2009---------
Maintained HOLD
Target raised to $21.00 from $20.00C (Target Hit Oct 09, 2009)
CWB Price day before: $18.36Finish day posting:$18.46Current:$30.93
-------Aug 20, 2009------
Downgraded to HOLD from BUY
CWB Price day before: $17.87Finish day posting:$18.10Current:$30.93
------June 05, 2009-----
Target raised to $19.00 from $18.00C (Target Hit Aug 06, 2009)
CWB Price day before: $14.69Finish day posting:$15.50Current:$30.93
--------May 26, 2009-----
Price Target raised to $18.00 from $13.00 (Target Hit June 12, 2009)
CWB Price day before: $13.72Finish day posting:$13.79Current:$30.93
*************
Darko Mihelic .........CIBC World Markets.......Dec 07, 2009
Maintained SECTOR PERFORM
Target raised to $24.00 from $23.00C (Target Hit)
CWB Price day before: $22.49Finish day posting:$22.30Current:$30.93
--------Sept 28, 2009------
Maintained SECTOR PERFORM
Target raised to $23.00 from $19.00C (Target Hit Nov 17, 2009)
CWB Price day before: $19.47Finish day posting:$19.70Current:$30.93
---------Sept 04, 2009----------
Maintained UNDERPERFORM
Target raised to $19.00 from $15.00C
CWB Price day before: $18.36Finish day posting:$18.46Current:$30.93
-------Sept 01, 2009------
Maintained UNDERPERFORM
Target raised to $15.00 from $13.00C
CWB Price day before: $18.50Finish day posting:$18.24Current:$30.93
---------June 05, 2009--------
Downgraded to UNDERPERFORM from SECTOR PERFORM
CWB Price day before: $14.69Finish day posting:$15.50Current:$30.93
*************
Robert Sedran .........National Bank Financial.......Sept 28, 2009
Maintained SECTOR PERFORM
Target raised to $21.00 from $20.00C (Target Hit Oct 09, 2009)
CWB Price day before: $19.97Finish day posting:$19.81Current:$30.93
-------June 05, 2009--------
Target raised to $15.50 from $14.00C
CWB Price day before: $14.69Finish day posting:$15.50Current:$30.93
*************
John Aiken .....Dundee Securities.............Sept 04, 2009
Maintained NEUTRAL
Target raised to $19.00 from $15.00
CWB Price day before: $18.36Finish day posting:$18.46Current:$30.93
--------June 04, 2009----
Upgraded to NEUTRAL from SELL
Target raised to $15.00 from $12.50
CWB Price day before: $14.54Finish day posting:$14.69Current:$30.93
************
Please note 2003 to 2008 ratings have been removed and available upon request..
Canadian Western Bank
Short Positions TSX
Date Outstanding Price Range
Mar 01 to 15, 2011 $31.25 to $29.63
Feb 16 to 28, 2011 4.26 million $31.75 to $30.14
Feb 01 to 15, 2011 4.00 million $31.27 to $29.64
Jan 16 to 31, 2011 4.21 million $30.05 to $28.50
Jan 01 to 15, 2011 3.88 million $29.38 to $27.71
Dec 16 to 31, 2010 3,804,243 $29.39 to $27.82
Dec 01 to 15, 2010 3,354,278 $30.00 to $26.75
Nov 16 to 30, 2010 3,008,916 $27.07 to $24.87
Nov 01 to 15, 2010 2,922,874 $25.96 to $24.87
Oct 16 to 31, 2010 2,893,801 $25.46 to $24.51
Oct 01 to 15, 2010 2,920,038 $25.54 to $24.75
Sept 16 to 30, 2010 2,895,649 $25.02 to $23.80
Sept 01 to 15, 2010 3,127,434 $25.75 to $24.21
Aug 16 to 31, 2010 3,066,552 $25.27 to $23.25
Aug 01 to 15, 2010 3,015,840 $26.59 to $24.23
July 16 to 30, 2010 3,045,257 $26.19 to $24.00
July 01 to 15, 2010 2,872,509 $24.62 to $22.36
June 16 to 30, 2010 2,907,703 $25.11 to $23.15
June 01 to 15, 2010 2,865,577 $24.88 to $22.24
May 16 to 31, 2010 2,841,730 $23.45 to $21.25
May 01 to 15, 2010 2,724,247 $24.01 to $21.85
Apr 16 to 30, 2010 2,659,499 $25.70 to $23.39
Apr 01 to 15, 2010 2,713,013 $25.75 to $24.05
Mar 16 to 31, 2010 2,727,063 $24.69 to $23.76
Mar 01 to 15, 2010 2,641,062 $24.43 to $20.75
Feb 16 to 28, 2010 2,738,734 $20.99 to $20.11
Feb 01 to 15, 2010 2,764,391 $21.20 to $19.85
Jan 16 to 31, 2010 2,813,541 $21.45 to $19.89
Jan 01 to 15, 2010 2,894,163 $22.05 to $20.50
Dec 16 to 31, 2009 2,971,962 $22.70 to $21.76
Dec 01 to 15, 2009 3,039,989 $23.38 to $21.71
Nov 16 to 30, 2009 3,082,099 $24.00 to $22.60
Nov 01 to 15, 2009 3,002,110 $22.94 to $20.62
Oct 16 to 30, 2009 2,370,043 $23.00 to $21.20
Oct 01 to 15, 2009 1,424,535 $22.60 to $18.70
Sept 16 to 30, 2009 1,307,548 $20.46 to $18.99
Sept 01 to 15, 2009 1,173,521 $19.45 to $17.60
Aug 07 to 31, 2009 1,101,438 $18.77 to $17.87
Aug 04 to 14, 2009 1,184,071 $19.00 to $17.32
July 16 to 31, 2009 1,248,003 $18.30 to $16.05
July 02 to 15, 2009 1,244,037 $17.23 to $14.60
June 16 to 30, 2009 1,299,976 $17.50 to $16.00
June 01 to 15, 2009 1,398,131 $18.13 to $14.12
May 19 to 29, 2009 1,362,394 $14.58 to $13.15
May 01 to 15, 2009 1,228,894 $15.20 to $12.94
Apr 16 to 30, 2009 1,303,305 $14.00 to $12.56
Apr 01 to 15, 2009 1,519,578 $14.00 to $10.28
Mar 16 to 31, 2009 1,367,969 $10.97 to $9.30
Mar 13, 2009 1,130,153 $11.03 to $7.52
Feb 27, 2009 1,479,876 $11.70 to $9.30
Feb 13, 2009 1,371,843 $12.10 to $10.75
Jan 31, 2009 1,321,658 $12.44 to $11.03
Jan 15, 2009 1,481,066 $13.89 to $11.90
Dec 31, 2008 1,232,729 $12.71 to $10.50
Dec 15, 2008 1,231,263 $16.35 to $10.89
Nov 28, 2008 1,287,036 $17.00 to $12.19
Nov 14, 2008 1,143,900 $20.15 to $16.82
Oct 31, 2008 1,180,885 $19.84 to $15.19
Oct 15, 2008 1,016,087 $20.26 to $14.67
Sept 30, 2008 940,541 $24.13 to $19.12