It is all about Alberta..9 book with a 12% earnings yield sets up CWB to be a significant compounder.
Credit Suisse made the comment that with oil plus 100, (and going higher), the Western Canada backdop should be strong. They highlighted the idea on May 30.
CWB has been fighting a negative sentiment for 7 years, trading at a discount to their larger peers.
With their market areas improving, this gap could close.
The at the market program spans 6 months, and I doubt they will issue below book.
I am nibbling around $30.