Canadian Western Bank Forecasted to Post Q3 2024 Earnings of $0.86 Per Share (TSE:CWB)

Canadian Western Bank (TSE:CWB - Free Report) - Analysts at Cormark issued their Q3 2024 EPS estimates for shares of Canadian Western Bank in a research note issued to investors on Tuesday, August 20th. Cormark analyst L. Persaud anticipates that the company will post earnings per share of $0.86 for the quarter. The consensus estimate for Canadian Western Bank's current full-year earnings is $3.72 per share.

Several other equities analysts have also issued reports on the company. National Bankshares lowered their price target on 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. CIBC downgraded shares of Canadian Western Bank from a "neutral" rating to a "tender" rating and upped their target price for the stock from C$30.00 to C$55.80 in a research note on Tuesday, June 18th. Desjardins increased their price target on shares of Canadian Western Bank from C$52.00 to C$53.00 and gave the company a "buy" rating in a report on Tuesday, August 6th. Jefferies Financial Group boosted their price objective on shares of Canadian Western Bank from C$28.00 to C$52.00 and gave the stock a "hold" rating in a report on Thursday, June 13th. Finally, Royal Bank of Canada downgraded Canadian Western Bank from an "outperform" rating to a "sector perform" rating and cut their target price for the company from C$32.00 to C$28.00 in a research note on Monday, June 3rd. Four investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of C$40.29.

Canadian Western Bank Trading Up 1.1 %

Canadian Western Bank stock traded up C$0.53 during mid-day trading on Friday, hitting C$49.78. The company had a trading volume of 322,376 shares, compared to its average volume of 365,512. Canadian Western Bank has a 12 month low of C$24.66 and a 12 month high of C$49.84. The company has a market capitalization of C$4.81 billion, a PE ratio of 14.77, a price-to-earnings-growth ratio of 2.95 and a beta of 1.39. The stock's 50 day moving average price is C$45.55 and its two-hundred day moving average price is C$33.95.

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

Insider Activity

In other Canadian Western Bank news, Senior Officer Trent Albert Erickson bought 4,312 shares of Canadian Western Bank stock in a transaction on Friday, June 14th. The stock was acquired at an average cost of C$41.44 per share, with a total value of C$178,680.66. In other news, 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. Also, Senior Officer Trent Albert Erickson acquired 4,312 shares of the stock in a transaction dated Friday, June 14th. The shares were bought at an average cost of C$41.44 per share, for a total transaction of C$178,680.66. Insiders own 0.46% of the company's stock.

Canadian Western Bank Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, June 20th. Shareholders of record on Thursday, June 6th were paid a dividend of $0.35 per share. This is an increase from Canadian Western Bank's previous quarterly dividend of $0.34. This represents a $1.40 dividend on an annualized basis and a dividend yield of 2.81%. The ex-dividend date was Thursday, June 6th. Canadian Western Bank's payout ratio is currently 41.67%.

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.