Desjardins Expects Lower Earnings for Canadian Western Bank

Canadian Western Bank (TSE:CWB) – Desjardins reduced their FY2024 earnings per share (EPS) estimates for shares of Canadian Western Bank in a research note 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 previous estimate of $3.20. Desjardins 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 announced its quarterly earnings data 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). Canadian Western Bank had a net margin of 29.23% and a return on equity of 7.51%. The business 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 several other research reports. Raymond James lowered Canadian Western Bank from a “moderate buy” rating to a “hold” rating and increased their target price for the company from C$52.00 to C$54.00 in a research note on Tuesday, September 3rd. Cibc World Mkts upgraded shares of Canadian Western Bank to a “hold” rating in a research report on Tuesday, September 3rd. CIBC boosted their price objective on shares of Canadian Western Bank from C$55.80 to C$60.30 and gave the company a “neutral” rating in a report on Tuesday, September 3rd. Cormark increased their target price on shares of Canadian Western Bank from C$46.00 to C$47.00 in a report on Tuesday, September 3rd. Finally, Jefferies Financial Group boosted their price target on shares of Canadian Western Bank from C$52.00 to C$57.00 and gave the company a “hold” rating in a report on Tuesday, September 3rd. Six analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat, Canadian Western Bank presently has an average rating of “Moderate Buy” and a consensus price target of C$48.03.

Canadian Western Bank Stock Down 0.6 %

CWB stock opened at C$56.89 on Monday. Canadian Western Bank has a twelve month low of C$24.66 and a twelve month high of C$57.75. The business’s fifty day moving average is C$53.73 and its 200-day moving average is C$42.56. The company has a market cap of C$5.50 billion, a P/E ratio of 19.09, a price-to-earnings-growth ratio of 2.95 and a beta of 1.39.

Insider Activity

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

Canadian Western Bank Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, September 26th. Shareholders of record on Thursday, September 12th were paid a $0.35 dividend. This represents a $1.40 annualized dividend and a dividend yield of 2.46%. The ex-dividend date was Thursday, September 12th. Canadian Western Bank’s dividend payout ratio is 46.98%.

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.