Cormark Weighs in on Canadian Western Bank’s Q2 2024 Earnings (TSE:CWB)

Canadian Western Bank (TSE:CWB) – Equities research analysts at Cormark issued their Q2 2024 EPS estimates for shares of Canadian Western Bank in a research note issued on Wednesday, May 22nd. Cormark analyst L. Persaud anticipates that the company will earn $0.85 per share for the quarter. The consensus estimate for Canadian Western Bank’s current full-year earnings is $3.62 per share. Cormark also issued estimates for Canadian Western Bank’s FY2024 earnings at $3.63 EPS and FY2025 earnings at $3.91 EPS.

A number of other equities research analysts also recently commented on CWB. Scotiabank raised shares of Canadian Western Bank from a “sector perform” rating to an “outperform” rating and set a C$32.00 price objective on the stock in a research report on Tuesday, February 20th. Desjardins dropped their price objective on shares of Canadian Western Bank from C$35.00 to C$33.00 and set a “buy” rating on the stock in a research report on Monday, May 6th. Veritas Investment Research reissued a “buy” rating on shares of Canadian Western Bank in a research report on Monday, March 4th. CIBC increased their price objective on shares of Canadian Western Bank from C$32.00 to C$34.00 and gave the company a “neutral” rating in a research report on Wednesday, February 14th. Finally, Royal Bank of Canada dropped their price objective on shares of Canadian Western Bank from C$34.00 to C$32.00 and set an “outperform” rating on the stock in a research report on Monday, March 4th. Two research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat.com, Canadian Western Bank presently has a consensus rating of “Moderate Buy” and an average price target of C$33.55.

Canadian Western Bank Stock Up 0.4 %

Shares of CWB opened at C$27.13 on Friday. Canadian Western Bank has a fifty-two week low of C$22.96 and a fifty-two week high of C$31.64. The firm’s 50 day moving average price is C$27.25 and its 200 day moving average price is C$28.73. The company has a market cap of C$2.62 billion, a P/E ratio of 8.22, a PEG ratio of 2.95 and a beta of 1.54.

Canadian Western Bank (TSE:CWB) last announced its earnings results on Friday, March 1st. The company reported C$0.93 earnings per share for the quarter, topping the consensus estimate of C$0.91 by C$0.02. Canadian Western Bank had a net margin of 31.97% and a return on equity of 8.58%. The firm had revenue of C$289.99 million for the quarter, compared to the consensus estimate of C$301.10 million.

Canadian Western Bank Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 21st. Investors of record on Thursday, March 7th were paid a dividend of $0.34 per share. This represents a $1.36 dividend on an annualized basis and a yield of 5.01%. The ex-dividend date was Wednesday, March 6th. Canadian Western Bank’s dividend payout ratio is currently 40.61%.

Insider Buying and Selling

In related news, Senior Officer Mark Stafford sold 1,708 shares of the stock in a transaction on Tuesday, April 9th. The shares were sold at an average price of C$27.94, for a total transaction of C$47,728.69. In other news, Senior Officer Mark Stafford sold 1,708 shares of the firm’s stock in a transaction on Tuesday, April 9th. The shares were sold at an average price of C$27.94, for a total value of C$47,728.69. Also, Senior Officer Supriya Anna Maria James sold 4,600 shares of the firm’s stock in a transaction on Tuesday, April 23rd. The stock was sold at an average price of C$27.00, for a total transaction of C$124,203.22. 0.32% of the stock is owned by company insiders.

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.