FY2024 EPS Estimates for Canadian Western Bank Reduced by Analyst (TSE:CWB)

Canadian Western Bank (TSE:CWB) – Stock analysts at Raymond James cut their FY2024 EPS estimates for Canadian Western Bank in a research note issued to investors on Tuesday, September 3rd. Raymond James analyst S. Boland now forecasts that the company will post earnings of $3.08 per share for the year, down from their prior forecast of $3.55. Raymond James has a “Hold” rating and a $54.00 price objective on the stock. The consensus estimate for Canadian Western Bank’s current full-year earnings is $3.70 per share.

A number of other brokerages also recently commented on CWB. National Bankshares reduced their target price on shares of Canadian Western Bank from C$37.00 to C$30.00 and set an “outperform” rating on the stock in a research note on Monday, June 3rd. Desjardins lifted their target price on shares of Canadian Western Bank from C$53.00 to C$57.00 and gave the stock a “buy” rating in a research note on Tuesday. Royal Bank of Canada lifted their target price on shares of 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. Cibc World Mkts raised shares of Canadian Western Bank to a “hold” rating in a research note on Tuesday. Finally, CIBC boosted their price target on shares of Canadian Western Bank from C$55.80 to C$60.30 and gave the company a “neutral” rating in a research note on Tuesday. Six analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of C$48.03.

Canadian Western Bank Price Performance

Shares of CWB stock opened at C$51.93 on Thursday. The firm’s 50-day moving average is C$47.29 and its two-hundred day moving average is C$35.54. Canadian Western Bank has a 12 month low of C$24.66 and a 12 month high of C$52.80. The company has a market capitalization of C$5.01 billion, a PE ratio of 15.46, a price-to-earnings-growth ratio of 2.95 and a beta of 1.39.

Insider Activity at Canadian Western Bank

In related news, Senior Officer Jenny Siman sold 1,000 shares of Canadian Western Bank 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. In related news, Senior Officer Jenny Siman sold 1,000 shares of Canadian Western Bank 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. Also, Senior Officer Trent Albert Erickson acquired 4,312 shares of the company’s stock in a transaction that occurred on Friday, June 14th. The stock was acquired at an average price of C$41.44 per share, with a total value of C$178,680.66. Company insiders own 0.46% of the company’s stock.

Canadian Western Bank Announces Dividend

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

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.