Cormark Expects Increased Earnings for Canadian Western Bank

Canadian Western Bank (TSE:CWB) – Equities research analysts at Cormark increased their FY2024 EPS estimates for Canadian Western Bank in a research note issued to investors on Monday, November 25th. Cormark analyst L. Persaud now forecasts 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 released its quarterly earnings results on Friday, August 30th. The company reported C$0.60 earnings per share for the quarter, missing the consensus estimate of C$0.87 by C($0.27). The firm had revenue of C$298.47 million for the quarter, compared to analyst estimates of C$296.88 million. Canadian Western Bank had a return on equity of 7.51% and a net margin of 29.23%.

A number of other equities research analysts have also recently issued reports on the stock. BMO Capital Markets boosted their target price on shares of Canadian Western Bank from C$52.00 to C$58.00 in a research report on Monday, November 18th. Raymond James downgraded shares of Canadian Western Bank from a “moderate buy” rating to a “hold” rating and boosted their price objective for the company from C$52.00 to C$54.00 in a report on Tuesday, September 3rd. Cibc World Mkts raised shares of Canadian Western Bank to a “hold” rating in a report on Tuesday, September 3rd. Scotiabank lifted their price target on shares of Canadian Western Bank from C$52.00 to C$62.00 in a research report on Monday. Finally, Desjardins increased their price target 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. Six analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of C$51.45.

Canadian Western Bank Price Performance

Shares of TSE CWB opened at C$59.90 on Wednesday. The firm has a market cap of C$5.79 billion, a price-to-earnings ratio of 20.11, a P/E/G ratio of 2.95 and a beta of 1.39. The stock’s fifty day moving average price is C$56.32 and its two-hundred day moving average price is C$46.45. Canadian Western Bank has a one year low of C$24.66 and a one year high of C$60.35.

Insiders Place Their Bets

In other news, Senior Officer Trent Albert Erickson sold 3,900 shares of the firm’s stock in a transaction that occurred 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. Corporate 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.