Canadian Western Bank to Post FY2023 Earnings of $3.85 Per Share, Cormark Forecasts (TSE:CWB)

Canadian Western Bank (TSE:CWBGet Rating) – Equities research analysts at Cormark lowered their FY2023 EPS estimates for Canadian Western Bank in a report released on Tuesday, November 22nd. Cormark analyst L. Persaud now expects that the company will post earnings of $3.85 per share for the year, down from their prior forecast of $3.90. The consensus estimate for Canadian Western Bank’s current full-year earnings is $3.78 per share. Cormark also issued estimates for Canadian Western Bank’s FY2024 earnings at $4.13 EPS.

Canadian Western Bank (TSE:CWBGet Rating) last posted its quarterly earnings data on Friday, August 26th. The company reported C$0.90 earnings per share for the quarter, beating analysts’ consensus estimates of C$0.89 by C$0.01. The firm had revenue of C$271.71 million for the quarter, compared to the consensus estimate of C$280.43 million.

A number of other brokerages have also issued reports on CWB. Scotiabank lowered their target price on shares of Canadian Western Bank from C$30.00 to C$29.00 in a research note on Tuesday. Credit Suisse Group lowered their target price on shares of Canadian Western Bank to C$27.00 in a research note on Tuesday. Barclays set a C$29.00 target price on shares of Canadian Western Bank in a research note on Monday, November 14th. BMO Capital Markets lowered their target price on shares of Canadian Western Bank from C$39.50 to C$35.00 in a research note on Monday, August 29th. Finally, Keefe, Bruyette & Woods lowered their target price on shares of Canadian Western Bank from C$35.00 to C$34.00 in a research note on Monday, August 8th. Six equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of C$32.42.

Canadian Western Bank Stock Up 1.7 %

CWB stock opened at C$26.15 on Thursday. Canadian Western Bank has a twelve month low of C$21.21 and a twelve month high of C$41.35. The stock has a market capitalization of C$2.43 billion and a price-to-earnings ratio of 7.11. The firm’s fifty day simple moving average is C$23.55 and its two-hundred day simple moving average is C$26.03.

Insider Activity

In related news, Senior Officer Stephen Howard Edward Murphy acquired 5,000 shares of the business’s stock in a transaction dated Monday, September 26th. The shares were purchased at an average price of C$22.46 per share, for a total transaction of C$112,300.00. Following the completion of the acquisition, the insider now directly owns 45,006 shares in the company, valued at approximately C$1,010,834.76.

Canadian Western Bank Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 22nd. Stockholders of record on Thursday, September 8th were issued a dividend of $0.31 per share. The ex-dividend date of this dividend was Wednesday, September 7th. This represents a $1.24 annualized dividend and a dividend yield of 4.74%. This is an increase from Canadian Western Bank’s previous quarterly dividend of $0.30. Canadian Western Bank’s dividend payout ratio is 32.61%.

Canadian Western Bank Company Profile

(Get Rating)

Canadian Western Bank provides personal and business banking products and services primarily in Western Canada. The company offers current, savings, cash management, US dollar, and chequing accounts, as well as organization, strata solution/condo, general trust, and trust fund investment accounts. It also offers commercial lending and real estate, and equipment financing and leasing products; loans and mortgages; secured and unsecured lines of credit; registered retirement savings plan; consolidation, vehicle, and recreation vehicle loans; and credit cards.

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Earnings History and Estimates for Canadian Western Bank (TSE:CWB)

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