Canadian Western Bank (TSE:CWB) to Post Q3 2024 Earnings of $0.90 Per Share, Raymond James Forecasts

Canadian Western Bank (TSE:CWB) – Raymond James decreased their Q3 2024 earnings per share (EPS) estimates for shares of Canadian Western Bank in a report released on Monday, June 3rd. Raymond James analyst S. Boland now anticipates that the company will post earnings of $0.90 per share for the quarter, down from their prior forecast of $0.94. The consensus estimate for Canadian Western Bank’s current full-year earnings is $3.59 per share. Raymond James also issued estimates for Canadian Western Bank’s Q4 2024 earnings at $0.90 EPS, FY2024 earnings at $3.55 EPS, Q1 2025 earnings at $0.94 EPS, Q2 2025 earnings at $0.95 EPS, Q3 2025 earnings at $0.98 EPS, Q4 2025 earnings at $0.99 EPS and FY2025 earnings at $3.87 EPS.

Several other brokerages have also recently weighed in on CWB. Veritas Investment Research reiterated a “buy” rating on shares of Canadian Western Bank in a report on Monday, March 4th. National Bankshares lowered their target price on Canadian Western Bank from C$37.00 to C$30.00 and set an “outperform” rating for the company in a report on Monday, June 3rd. Royal Bank of Canada cut Canadian Western Bank from an “outperform” rating to a “sector perform” rating and lowered their target price for the stock from C$32.00 to C$28.00 in a report on Monday, June 3rd. Scotiabank lowered their target price on Canadian Western Bank from C$32.00 to C$30.00 and set an “outperform” rating for the company in a report on Monday, June 3rd. Finally, CIBC lowered their target price on Canadian Western Bank from C$34.00 to C$30.00 and set a “neutral” rating for the company in a report on Monday, June 3rd. Four analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of C$31.58.

Canadian Western Bank Stock Up 0.5 %

CWB opened at C$25.43 on Thursday. Canadian Western Bank has a 52-week low of C$23.21 and a 52-week high of C$31.64. The stock has a market cap of C$2.46 billion, a P/E ratio of 7.71, a PEG ratio of 2.95 and a beta of 1.54. The business has a fifty day moving average of C$26.90 and a 200 day moving average of C$28.55.

Insider Activity

In other news, Senior Officer Supriya Anna Maria James sold 4,600 shares of the stock in a transaction dated Tuesday, April 23rd. The stock was sold at an average price of C$27.00, for a total value of C$124,203.22. In other news, Senior Officer Supriya Anna Maria James sold 4,600 shares of the company’s stock in a transaction dated Tuesday, April 23rd. The stock was sold at an average price of C$27.00, for a total value of C$124,203.22. Also, Senior Officer Mark Stafford sold 1,708 shares of the company’s stock in a transaction dated Tuesday, April 9th. The stock was sold at an average price of C$27.94, for a total value of C$47,728.69. Corporate insiders own 0.32% of the company’s stock.

Canadian Western Bank Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 20th. Investors of record on Thursday, June 6th will be given a dividend of $0.35 per share. This is a positive change from Canadian Western Bank’s previous quarterly dividend of $0.34. This represents a $1.40 annualized dividend and a yield of 5.51%. The ex-dividend date is Thursday, June 6th. Canadian Western Bank’s dividend payout ratio is currently 40.61%.

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.