Cormark Has Positive Outlook for TSE:CWB FY2024 Earnings

Canadian Western Bank (TSE:CWB) – Cormark lifted their FY2024 earnings per share estimates for Canadian Western Bank in a note issued to investors on Monday, November 25th. Cormark analyst L. Persaud now anticipates that the company will post earnings per share of $3.21 for the year, up from their prior estimate 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 issued its quarterly earnings data on Friday, August 30th. The company reported C$0.60 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 for the quarter, compared to analyst estimates of C$296.88 million.

CWB has been the subject of a number of other reports. Desjardins boosted their target price on Canadian Western Bank from C$53.00 to C$57.00 and gave the company a “buy” rating in a research note on Tuesday, September 3rd. Scotiabank boosted their price objective on Canadian Western Bank from C$52.00 to C$62.00 in a research report on Monday. Royal Bank of Canada raised 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 report on Tuesday, September 3rd. Cibc World Mkts raised shares of Canadian Western Bank to a “hold” rating in a research note on Tuesday, September 3rd. Finally, CIBC increased their price objective on shares of Canadian Western Bank from C$60.30 to C$63.50 in a research report on Tuesday. Six investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, Canadian Western Bank has a consensus rating of “Hold” and an average price target of C$51.45.

Canadian Western Bank Stock Down 0.6 %

CWB opened at C$59.90 on Wednesday. The stock has a market cap of C$5.79 billion, a P/E ratio of 20.11, a P/E/G ratio of 2.95 and a beta of 1.39. Canadian Western Bank has a 12 month low of C$24.66 and a 12 month high of C$60.35. The company has a fifty day simple moving average of C$56.32 and a 200 day simple moving average of C$46.45.

Insider Buying and Selling at Canadian Western Bank

In other news, Senior Officer Trent Albert Erickson sold 3,900 shares of the company’s stock in a transaction that occurred on Wednesday, September 4th. The stock was sold at an average price of C$51.42, for a total transaction of C$200,538.00. Company 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.