Canadian Western Bank (TSE:CWB) Expected to Post FY2024 Earnings of $3.20 Per Share

Canadian Western Bank (TSE:CWB) – Research analysts at Cormark reduced their FY2024 earnings per share estimates for shares of Canadian Western Bank in a report released on Tuesday, September 3rd. Cormark analyst L. Persaud now expects that the company will earn $3.20 per share for the year, down from their previous forecast of $3.50. The consensus estimate for Canadian Western Bank’s current full-year earnings is $3.70 per share. Cormark also issued estimates for Canadian Western Bank’s FY2025 earnings at $3.60 EPS.

Several other equities research analysts have also commented on the company. Cibc World Mkts upgraded Canadian Western Bank to a “hold” rating in a research report on Tuesday. Raymond James downgraded Canadian Western Bank from a “moderate buy” rating to a “hold” rating and upped their price target for the stock from C$52.00 to C$54.00 in a research note on Tuesday. BMO Capital Markets downgraded Canadian Western Bank from an “outperform” rating to a “market perform” rating and upped their price target for the stock from C$35.00 to C$52.00 in a research note on Wednesday, June 12th. Scotiabank upped their price target on Canadian Western Bank from C$30.00 to C$52.00 and gave the stock an “outperform” rating in a research note on Tuesday, June 18th. Finally, CIBC upped their price target on Canadian Western Bank from C$55.80 to C$60.30 and gave the stock a “neutral” rating in a research note on Tuesday. Six equities research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of C$48.03.

Canadian Western Bank Price Performance

Shares of Canadian Western Bank stock opened at C$51.93 on Wednesday. Canadian Western Bank has a one year low of C$24.66 and a one year high of C$52.80. The stock’s 50-day moving average is C$47.29 and its 200 day moving average is C$35.54. The firm has a market cap of C$5.01 billion, a price-to-earnings ratio of 15.46, a PEG ratio of 2.95 and a beta of 1.39.

Canadian Western Bank Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 26th. Stockholders of record on Thursday, September 12th will be paid a $0.35 dividend. This represents a $1.40 annualized dividend and a dividend yield of 2.70%. The ex-dividend date is Thursday, September 12th. Canadian Western Bank’s dividend payout ratio (DPR) is presently 41.67%.

Insider Transactions at Canadian Western Bank

In other news, Senior Officer Jenny Siman sold 1,000 shares of the stock in a transaction that occurred on Monday, July 22nd. The stock was sold at an average price of C$46.05, for a total value of C$46,050.00. 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, with a total value of C$178,680.66. Also, Senior Officer Jenny Siman sold 1,000 shares of the 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 value of C$46,050.00. Company insiders own 0.46% of the company’s stock.

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.