Desjardins Equities Analysts Cut Earnings Estimates for Canadian Western Bank (TSE:CWB)

Canadian Western Bank (TSE:CWBGet Rating) – Equities research analysts at Desjardins dropped their Q2 2022 earnings estimates for Canadian Western Bank in a research report issued on Monday, May 9th. Desjardins analyst D. Young now forecasts that the company will post earnings of $0.90 per share for the quarter, down from their prior estimate of $0.93. Desjardins also issued estimates for Canadian Western Bank’s FY2023 earnings at $4.15 EPS.

Several other analysts also recently commented on CWB. National Bankshares increased their price objective on Canadian Western Bank from C$43.00 to C$44.00 and gave the stock a “sector perform” rating in a research note on Tuesday, March 1st. Scotiabank decreased their price target on Canadian Western Bank from C$48.00 to C$44.00 in a research report on Wednesday, April 13th. CIBC downgraded Canadian Western Bank from an “outperform” rating to a “hold” rating and decreased their price target for the company from C$45.00 to C$38.00 in a research report on Monday, April 11th. Raymond James increased their price target on Canadian Western Bank from C$41.00 to C$43.00 and gave the company an “outperform” rating in a research report on Monday, February 28th. Finally, BMO Capital Markets increased their price target on Canadian Western Bank from C$42.00 to C$42.50 in a research report on Monday, February 28th. Four analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Buy” and an average target price of C$42.77.

CWB stock opened at C$31.07 on Wednesday. The company has a market cap of C$2.80 billion and a P/E ratio of 8.20. Canadian Western Bank has a fifty-two week low of C$30.79 and a fifty-two week high of C$41.56. The stock’s 50 day simple moving average is C$34.99 and its 200 day simple moving average is C$37.16.

Canadian Western Bank (TSE:CWBGet Rating) last posted its quarterly earnings results on Friday, February 25th. The company reported C$0.99 earnings per share for the quarter, topping analysts’ consensus estimates of C$0.95 by C$0.04. The firm had revenue of C$265.98 million for the quarter, compared to analyst estimates of C$268.45 million.

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 24th. Investors of record on Thursday, March 10th were issued a $0.30 dividend. This represents a $1.20 annualized dividend and a yield of 3.86%. The ex-dividend date of this dividend was Wednesday, March 9th. Canadian Western Bank’s dividend payout ratio (DPR) is presently 31.66%.

In other Canadian Western Bank news, Senior Officer Niall Boles sold 1,300 shares of Canadian Western Bank stock in a transaction dated Wednesday, April 20th. The stock was sold at an average price of C$34.60, for a total transaction of C$44,975.06. Following the completion of the transaction, the insider now owns 32 shares of the company’s stock, valued at approximately C$1,107.08. Also, Senior Officer Darrell Robert Jones sold 2,854 shares of the company’s stock in a transaction dated Thursday, March 3rd. The shares were sold at an average price of C$37.60, for a total value of C$107,310.40. Following the sale, the insider now owns 21,094 shares in the company, valued at C$793,134.40. Insiders sold a total of 4,554 shares of company stock valued at $166,217 over the last quarter.

About Canadian Western Bank (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.

See Also

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

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