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

Canadian Western Bank (TSE:CWB) – Analysts at Cormark issued their Q2 2024 earnings estimates for Canadian Western Bank in a report released on Wednesday, May 22nd. Cormark analyst L. Persaud expects 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.

CWB has been the topic of several other research reports. Desjardins cut 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. CIBC lifted their price target 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. Royal Bank of Canada dropped their price target 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. Scotiabank raised shares of Canadian Western Bank from a “sector perform” rating to an “outperform” rating and set a C$32.00 price target on the stock in a research report on Tuesday, February 20th. Finally, Veritas Investment Research reissued a “buy” rating on shares of Canadian Western Bank in a research report on Monday, March 4th. Two 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 has a consensus rating of “Moderate Buy” and an average target price of C$33.55.

Canadian Western Bank Stock Performance

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

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

Insiders Place Their Bets

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

Canadian Western Bank Dividend Announcement

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

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.