Desjardins Has Bearish Outlook for TSE:CWB FY2024 Earnings

Canadian Western Bank (TSE:CWB - Free Report) - Equities researchers at Desjardins cut their FY2024 EPS estimates for shares of Canadian Western Bank in a research note issued to investors on Friday, November 1st. Desjardins analyst D. Young now forecasts that the company will earn $3.19 per share for the year, down from their previous forecast of $3.20. Desjardins currently has a "Buy" rating and a $57.00 target price on the stock. The consensus estimate for Canadian Western Bank's current full-year earnings is $3.66 per share. Desjardins also issued estimates for Canadian Western Bank's Q4 2024 earnings at $0.85 EPS and FY2026 earnings at $3.85 EPS.

Canadian Western Bank (TSE:CWB - Get Free Report) last issued its quarterly earnings results 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 business had revenue of C$298.47 million for the quarter, compared to analysts' expectations of C$296.88 million.

Several other equities research analysts have also issued reports on CWB. Cibc World Mkts raised shares of Canadian Western Bank to a "hold" rating in a report on Tuesday, September 3rd. Jefferies Financial Group raised their price objective on shares of Canadian Western Bank from C$52.00 to C$57.00 and gave the company a "hold" rating in a research report on Tuesday, September 3rd. CIBC lifted their target price on shares of Canadian Western Bank from C$55.80 to C$60.30 and gave the company a "neutral" rating in a research note on Tuesday, September 3rd. Raymond James lowered Canadian Western Bank from a "moderate buy" rating to a "hold" rating and increased their price target for the stock from C$52.00 to C$54.00 in a research note on Tuesday, September 3rd. Finally, Cormark boosted their price objective on Canadian Western Bank from C$46.00 to C$47.00 in a research report on Tuesday, September 3rd. Six analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of C$48.03.

Canadian Western Bank Stock Up 0.4 %

TSE:CWB traded up C$0.20 during mid-day trading on Monday, hitting C$57.09. 134,356 shares of the company traded hands, compared to its average volume of 366,847. The stock's fifty day moving average price is C$53.73 and its 200-day moving average price is C$42.68. The firm has a market cap of C$5.52 billion, a price-to-earnings ratio of 19.16, a price-to-earnings-growth ratio of 2.95 and a beta of 1.39. Canadian Western Bank has a one year low of C$24.66 and a one year high of C$57.75.

Canadian Western Bank Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, September 26th. Stockholders of record on Thursday, September 12th were issued a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a dividend yield of 2.45%. The ex-dividend date was Thursday, September 12th. Canadian Western Bank's dividend payout ratio (DPR) is 46.98%.

Insider Activity

In related news, Senior Officer Trent Albert Erickson sold 3,900 shares of the firm's stock in a transaction on Wednesday, September 4th. The stock was sold at an average price of C$51.42, for a total value of C$200,538.00. Corporate 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.