FY2024 Earnings Forecast for Canadian Western Bank (TSE:CWB) Issued By Cormark

Canadian Western Bank (TSE:CWB - Free Report) - Analysts at Cormark dropped their FY2024 EPS estimates for shares of Canadian Western Bank in a research report issued on Tuesday, August 20th. Cormark analyst L. Persaud now forecasts that the company will earn $3.50 per share for the year, down from their prior estimate of $3.51. The consensus estimate for Canadian Western Bank's current full-year earnings is $3.72 per share. Cormark also issued estimates for Canadian Western Bank's FY2025 earnings at $3.75 EPS.

Canadian Western Bank (TSE:CWB - Get Free Report) last released its quarterly earnings results on Friday, May 31st. The company reported C$0.81 earnings per share for the quarter, missing the consensus estimate of C$0.86 by C($0.05). The firm had revenue of C$285.92 million during the quarter, compared to the consensus estimate of C$290.33 million. Canadian Western Bank had a return on equity of 8.66% and a net margin of 32.29%.

CWB has been the subject of several other research reports. Scotiabank boosted their price objective on Canadian Western Bank from C$30.00 to C$52.00 and gave the stock an "outperform" rating in a report on Tuesday, June 18th. Desjardins boosted their price target on shares of Canadian Western Bank from C$52.00 to C$53.00 and gave the stock a "buy" rating in a research note on Tuesday, August 6th. Royal Bank of Canada cut shares of Canadian Western Bank from an "outperform" rating to a "sector perform" rating and lowered their price objective for the company from C$32.00 to C$28.00 in a research report on Monday, June 3rd. National Bankshares cut their target price on shares of Canadian Western Bank from C$37.00 to C$30.00 and set an "outperform" rating for the company in a research report on Monday, June 3rd. Finally, Jefferies Financial Group raised their price target on Canadian Western Bank from C$28.00 to C$52.00 and gave the company a "hold" rating in a research report on Thursday, June 13th. Four equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company's stock. According to MarketBeat.com, Canadian Western Bank currently has an average rating of "Moderate Buy" and a consensus price target of C$40.29.

Canadian Western Bank Price Performance

TSE CWB traded up C$0.31 during trading on Thursday, reaching C$49.25. The company's stock had a trading volume of 174,760 shares, compared to its average volume of 365,777. The firm has a fifty day moving average of C$45.39 and a 200 day moving average of C$33.85. Canadian Western Bank has a one year low of C$24.66 and a one year high of C$49.34. The stock has a market capitalization of C$4.75 billion, a PE ratio of 14.66, a P/E/G ratio of 2.95 and a beta of 1.39.

Canadian Western Bank Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, June 20th. Shareholders of record on Thursday, June 6th were given a $0.35 dividend. The ex-dividend date was Thursday, June 6th. This represents a $1.40 annualized dividend and a yield of 2.84%. This is an increase from Canadian Western Bank's previous quarterly dividend of $0.34. Canadian Western Bank's payout ratio is presently 41.67%.

Insider Activity

In other news, Senior Officer Trent Albert Erickson bought 4,312 shares of the firm's stock in a transaction that occurred on Friday, June 14th. The shares were bought at an average cost of C$41.44 per share, with a total value of C$178,680.66. In other news, Senior Officer Trent Albert Erickson bought 4,312 shares of the company's stock in a transaction dated Friday, June 14th. The stock was bought at an average cost of C$41.44 per share, for a total transaction of C$178,680.66. Also, Senior Officer Jenny Siman sold 1,000 shares of the firm's stock in a transaction dated Monday, July 22nd. The stock was sold at an average price of C$46.05, for a total value of C$46,050.00. Insiders own 0.46% of the company's stock.

Canadian Western Bank Company Profile

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.