FY2023 Earnings Estimate for Canadian Western Bank Issued By Cormark (TSE:CWB)

Canadian Western Bank (TSE:CWB – Get Rating) – Cormark upped their FY2023 EPS estimates for Canadian Western Bank in a report issued on Tuesday, May 23rd. Cormark analyst L. Persaud now expects that the company will post earnings of $3.64 per share for the year, up from their previous forecast of $3.58. The consensus estimate for Canadian Western Bank’s current full-year earnings is $3.60 per share.

Canadian Western Bank (TSE:CWB – Get Rating) last issued its earnings results on Thursday, March 2nd. The company reported C$1.02 EPS for the quarter, topping the consensus estimate of C$0.89 by C$0.13. Canadian Western Bank had a net margin of 32.57% and a return on equity of 9.18%. The company had revenue of C$272.89 million for the quarter, compared to the consensus estimate of C$275.10 million.

Other analysts have also recently issued research reports about the stock. CSFB cut their price target on shares of Canadian Western Bank from C$28.00 to C$26.00 in a report on Tuesday, May 16th. TD Securities cut their price target on shares of Canadian Western Bank from C$34.00 to C$33.00 and set a “buy” rating on the stock in a report on Friday, March 3rd. Royal Bank of Canada cut their price target on shares of Canadian Western Bank from C$36.00 to C$35.00 and set a “sector perform” rating on the stock in a report on Friday, March 3rd. CIBC cut their price target on shares of Canadian Western Bank from C$30.00 to C$28.00 in a report on Tuesday, May 16th. Finally, Barclays dropped their target price on shares of Canadian Western Bank from C$29.00 to C$27.00 in a report on Tuesday, May 9th. Six research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of C$30.08.

Canadian Western Bank Stock Up 0.1 %

Shares of TSE CWB opened at C$24.42 on Wednesday. Canadian Western Bank has a 52 week low of C$21.21 and a 52 week high of C$33.33. The firm’s fifty day moving average is C$24.22 and its 200 day moving average is C$25.35. The company has a market cap of C$2.35 billion, a price-to-earnings ratio of 7.18, a PEG ratio of 2.95 and a beta of 1.70.

Canadian Western Bank Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, March 23rd. Stockholders of record on Thursday, March 9th were given a $0.32 dividend. This represents a $1.28 annualized dividend and a dividend yield of 5.24%. The ex-dividend date of this dividend was Wednesday, March 8th. Canadian Western Bank’s dividend payout ratio is presently 37.65%.

Insider Transactions at Canadian Western Bank

In other news, Senior Officer Azfar Karimuddin sold 1,050 shares of Canadian Western Bank stock in a transaction dated Tuesday, March 21st. The stock was sold at an average price of C$24.19, for a total value of C$25,401.50. 0.37% of the stock is owned by insiders.

Canadian Western Bank Company Profile

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Canadian Western Bank provides personal and business banking products and services primarily in Western Canada. The company offers current, savings, notice, cash management, US dollar, and chequing accounts, as well as organization, business trust, and trust fund investment accounts. It also offers commercial lending and real estate, and equipment financing and leasing products; agriculture lending products; mortgages; lines of credits; registered retirement savings loans; consolidation, and vehicle loans; and credit cards.