CBWBF - Canadian Western Bank Is A Hold
Investment Thesis
Canadian Western Bank (CBWBF) (TSX:CWB) delivered a good fiscal 2018. However, its top and bottom line growth rates are expected to moderate in 2019 due to a weak economic outlook in Alberta, slow real estate activities in Ontario and British Columbia, and flat net interest margin outlook. The company’s share price is significantly undervalued. However, given the bank's much higher exposure to Western Canada, we think conservative investors with a long-term horizon should choose other alternatives.
Source: YCharts
Q4 2018 Highlights
Canadian Western Bank delivered a solid Q4 2018