Cormark Forecasts Higher Earnings for Canadian Western Bank

Canadian Western Bank (TSE:CWB) – Analysts at Cormark lifted their FY2024 EPS estimates for Canadian Western Bank in a research note issued to investors on Monday, November 25th. Cormark analyst L. Persaud now anticipates that the company will post earnings per share of $3.21 for the year, up from their previous forecast 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.

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

Other equities research analysts have also recently issued research reports about the stock. BMO Capital Markets raised their target price on shares of Canadian Western Bank from C$52.00 to C$58.00 in a report on Monday, November 18th. Scotiabank lifted their price objective on Canadian Western Bank from C$52.00 to C$62.00 in a report on Monday. Jefferies Financial Group upped their price objective on 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. Desjardins raised their target price on Canadian Western Bank from C$53.00 to C$57.00 and gave the stock a “buy” rating in a research report on Tuesday, September 3rd. Finally, Raymond James lowered shares of Canadian Western Bank from a “moderate buy” rating to a “hold” rating and upped their price target for the company from C$52.00 to C$54.00 in a research report on Tuesday, September 3rd. Six analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, Canadian Western Bank currently has a consensus rating of “Hold” and an average target price of C$51.45.

Canadian Western Bank Stock Up 0.9 %

Shares of CWB stock opened at C$60.28 on Wednesday. The company has a 50 day moving average price of C$56.18 and a 200-day moving average price of C$46.22. 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$5.83 billion, a PE ratio of 20.18, a P/E/G ratio of 2.95 and a beta of 1.39.

Canadian Western Bank Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, September 26th. Investors of record on Thursday, September 12th were given a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a dividend yield of 2.32%. The ex-dividend date of this dividend was Thursday, September 12th. Canadian Western Bank’s dividend payout ratio is currently 46.98%.

Insider Activity at Canadian Western Bank

In other Canadian Western Bank news, Senior Officer Trent Albert Erickson sold 3,900 shares of the stock in a transaction on Wednesday, September 4th. The shares were sold at an average price of C$51.42, for a total transaction of C$200,538.00. 0.46% of the stock is owned by corporate insiders.

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.