Cormark Expects Stronger Earnings for Canadian Western Bank

Canadian Western Bank (TSE:CWB - Free Report) - Cormark raised their FY2024 earnings estimates for shares of Canadian Western Bank in a report issued on Monday, November 25th. Cormark analyst L. Persaud now anticipates that the company will earn $3.21 per share for the year, up from their prior forecast of $3.20. The consensus estimate for Canadian Western Bank's current full-year earnings is $3.66 per share. Cormark also issued estimates for Canadian Western Bank's Q4 2024 earnings at $0.87 EPS.

Canadian Western Bank (TSE:CWB - Get Free Report) last posted its quarterly earnings data on Friday, August 30th. The company reported C$0.60 earnings per share for the quarter, missing the consensus estimate of C$0.87 by C($0.27). Canadian Western Bank had a return on equity of 7.51% and a net margin of 29.23%. The company had revenue of C$298.47 million during the quarter, compared to the consensus estimate of C$296.88 million.

Several other brokerages have also recently commented on CWB. Jefferies Financial Group lifted their price target on shares of Canadian Western Bank from C$52.00 to C$57.00 and gave the stock a "hold" rating in a research report on Tuesday, September 3rd. Desjardins increased their price target on Canadian Western Bank from C$53.00 to C$57.00 and gave the company a "buy" rating in a research note on Tuesday, September 3rd. Cibc World Mkts raised Canadian Western Bank to a "hold" rating in a research note on Tuesday, September 3rd. Royal Bank of Canada increased their target price on Canadian Western Bank from C$51.00 to C$52.00 and gave the company a "sector perform" rating in a research note on Tuesday, September 3rd. Finally, CIBC boosted their target price on Canadian Western Bank from C$60.30 to C$63.50 in a research report on Tuesday. Six investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and an average price target of C$51.45.

Canadian Western Bank Stock Up 0.9 %

CWB stock traded up C$0.54 during midday trading on Wednesday, reaching C$60.28. The stock had a trading volume of 342,869 shares, compared to its average volume of 356,904. Canadian Western Bank has a twelve month low of C$24.66 and a twelve month high of C$60.35. The firm has a market cap of C$5.83 billion, a price-to-earnings ratio of 20.18, a PEG ratio of 2.95 and a beta of 1.39. The business has a fifty day simple moving average of C$56.18 and a two-hundred day simple moving average of C$46.22.

Canadian Western Bank Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 26th. Shareholders of record on Thursday, September 12th were paid a $0.35 dividend. The ex-dividend date was Thursday, September 12th. This represents a $1.40 annualized dividend and a yield of 2.32%. Canadian Western Bank's dividend payout ratio is 46.98%.

Insider Activity

In related news, Senior Officer Trent Albert Erickson sold 3,900 shares of the company's stock in a transaction dated Wednesday, September 4th. The shares were sold at an average price of C$51.42, for a total value of C$200,538.00. Insiders own 0.46% of the company's stock.

About Canadian Western Bank

Canadian Western Bank provides personal and business banking products and services in Western Canada. The company offers current, savings, US dollar, chequing, flex notice, organization, business trust, and trust fund investment accounts. It also offers commercial lending and real estate, equipment financing and leasing, aviation financing, and dealership financing products; agriculture lending products and AgriInvest savings account; variable and fixed rate mortgages; line of credit; registered retirement savings plan, consolidation, and vehicle loans; and credit cards.