Analysts Offer Predictions for Canadian Western Bank's FY2024 Earnings (TSE:CWB)

Canadian Western Bank (TSE:CWB - Free Report) - Raymond James dropped their FY2024 earnings estimates for shares of Canadian Western Bank in a report released on Tuesday, September 3rd. Raymond James analyst S. Boland now anticipates that the company will post earnings of $3.08 per share for the year, down from their previous estimate of $3.55. Raymond James has a "Hold" rating and a $54.00 price objective on the stock. The consensus estimate for Canadian Western Bank's current full-year earnings is $3.70 per share.

Other equities analysts have also issued reports about the company. Royal Bank of Canada upped 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 report on Tuesday. BMO Capital Markets cut Canadian Western Bank from an "outperform" rating to a "market perform" rating and upped their price target for the company from C$35.00 to C$52.00 in a report on Wednesday, June 12th. National Bankshares cut their price target on shares of Canadian Western Bank from C$37.00 to C$30.00 and set an "outperform" rating on the stock in a report on Monday, June 3rd. Jefferies Financial Group raised their price objective on Canadian Western Bank from C$52.00 to C$57.00 and gave the stock a "hold" rating in a research report on Tuesday. Finally, Cormark lifted their price objective on Canadian Western Bank from C$46.00 to C$47.00 in a research report on Tuesday. Seven research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of C$45.41.

Canadian Western Bank Stock Down 0.1 %

Shares of CWB traded down C$0.03 during mid-day trading on Thursday, reaching C$51.93. 279,975 shares of the stock traded hands, compared to its average volume of 371,599. Canadian Western Bank has a 12-month low of C$24.66 and a 12-month high of C$52.80. The stock has a fifty day simple moving average of C$47.29 and a 200 day simple moving average of C$35.54. The firm has a market cap of C$5.01 billion, a price-to-earnings ratio of 15.46, a P/E/G ratio of 2.95 and a beta of 1.39.

Canadian Western Bank Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 26th. Shareholders of record on Thursday, September 12th will be given a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a dividend yield of 2.70%. The ex-dividend date is Thursday, September 12th. Canadian Western Bank's payout ratio is 41.67%.

Insider Activity at Canadian Western Bank

In other Canadian Western Bank news, Senior Officer Trent Albert Erickson purchased 4,312 shares of the firm's stock in a transaction that occurred on 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. In other Canadian Western Bank news, Senior Officer Jenny Siman sold 1,000 shares of the firm's stock in a transaction that occurred on Monday, July 22nd. The shares were sold at an average price of C$46.05, for a total transaction 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 stock was acquired at an average price of C$41.44 per share, for a total transaction of C$178,680.66. 0.46% of the stock is owned by company insiders.

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.