FY2024 Earnings Estimate for TSE:CWB Issued By Cormark

Canadian Western Bank (TSE:CWB) – Investment analysts at Cormark raised their FY2024 earnings estimates for Canadian Western Bank in a research note issued to investors on Monday, November 25th. Cormark analyst L. Persaud now expects that the company will post earnings per share of $3.21 for the year, up from their prior estimate 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.

Several other brokerages also recently issued reports on CWB. Raymond James downgraded Canadian Western Bank from a “moderate buy” rating to a “hold” rating and increased their price objective for the stock from C$52.00 to C$54.00 in a research note on Tuesday, September 3rd. Royal Bank of Canada increased their price target on shares of Canadian Western Bank from C$51.00 to C$52.00 and gave the stock a “sector perform” rating in a research report on Tuesday, September 3rd. Scotiabank upped their price objective on shares of Canadian Western Bank from C$52.00 to C$62.00 in a research note on Monday. Jefferies Financial Group increased their target price 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. Finally, Cibc World Mkts upgraded shares of Canadian Western Bank to a “hold” rating in a report on Tuesday, September 3rd. Six investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of C$51.45.

Canadian Western Bank Stock Performance

Canadian Western Bank stock opened at C$59.74 on Wednesday. The company has a 50 day moving average price of C$56.06 and a 200 day moving average price of C$46.12. Canadian Western Bank has a 52 week low of C$24.66 and a 52 week high of C$60.35. The firm has a market capitalization of C$5.78 billion, a price-to-earnings ratio of 20.05, a P/E/G ratio of 2.95 and a beta of 1.39.

Canadian Western Bank (TSE:CWB) last announced its earnings results on Friday, August 30th. The company reported C$0.60 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of C$0.87 by C($0.27). The company had revenue of C$298.47 million for the quarter, compared to analyst estimates of C$296.88 million. Canadian Western Bank had a return on equity of 7.51% and a net margin of 29.23%.

Insider Buying and Selling at Canadian Western Bank

In other Canadian Western Bank news, Senior Officer Trent Albert Erickson sold 3,900 shares of the company’s stock in a transaction that occurred on Wednesday, September 4th. The stock was sold at an average price of C$51.42, for a total transaction of C$200,538.00. Corporate insiders own 0.46% of the company’s stock.

Canadian Western Bank Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, September 26th. Shareholders of record on Thursday, September 12th were given a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a yield of 2.34%. The ex-dividend date of this dividend was Thursday, September 12th. Canadian Western Bank’s payout ratio is 46.98%.

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.