Desjardins Has Pessimistic View of TSE:CWB FY2024 Earnings

Canadian Western Bank (TSE:CWB) – Stock analysts at Desjardins reduced their FY2024 earnings per share (EPS) estimates for Canadian Western Bank in a report issued on Friday, November 1st. Desjardins analyst D. Young now anticipates that the company will post earnings of $3.19 per share for the year, down from their prior forecast of $3.20. Desjardins currently has a “Buy” rating and a $57.00 price objective on the stock. The consensus estimate for Canadian Western Bank’s current full-year earnings is $3.66 per share. Desjardins also issued estimates for Canadian Western Bank’s Q4 2024 earnings at $0.85 EPS and FY2026 earnings at $3.85 EPS.

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

CWB has been the topic of a number of other reports. Jefferies Financial Group increased their price target on 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. Royal Bank of Canada raised their price objective on Canadian Western Bank from C$51.00 to C$52.00 and gave the stock a “sector perform” rating in a research note on Tuesday, September 3rd. Raymond James downgraded Canadian Western Bank from a “moderate buy” rating to a “hold” rating and raised their price objective for the stock from C$52.00 to C$54.00 in a research note on Tuesday, September 3rd. Cormark raised their price objective on Canadian Western Bank from C$46.00 to C$47.00 in a research note on Tuesday, September 3rd. Finally, Cibc World Mkts upgraded Canadian Western Bank to a “hold” rating in a report on Tuesday, September 3rd. Six equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, Canadian Western Bank has an average rating of “Moderate Buy” and an average target price of C$48.03.

Canadian Western Bank Trading Up 0.2 %

CWB stock opened at C$57.23 on Monday. Canadian Western Bank has a 1-year low of C$24.66 and a 1-year high of C$57.75. The firm has a market cap of C$5.53 billion, a P/E ratio of 19.19, a P/E/G ratio of 2.95 and a beta of 1.39. The business’s 50 day moving average is C$53.90 and its 200-day moving average is C$42.78.

Canadian Western Bank Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, September 26th. Shareholders of record on Thursday, September 12th were paid a dividend of $0.35 per share. The ex-dividend date of this dividend was Thursday, September 12th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 2.45%. Canadian Western Bank’s payout ratio is presently 46.98%.

Insiders Place Their Bets

In related news, Senior Officer Trent Albert Erickson sold 3,900 shares of the business’s stock in a transaction on Wednesday, September 4th. The shares were sold at an average price of C$51.42, for a total value of C$200,538.00. Insiders own 0.46% of the company’s stock.

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.