Canadian Western Bank (TSE:CWB – Free Report) – Research analysts at Desjardins lowered their Q3 2023 earnings per share estimates for shares of Canadian Western Bank in a research report issued to clients and investors on Wednesday, August 2nd. Desjardins analyst D. Young now expects that the company will post earnings per share of $0.76 for the quarter, down from their prior estimate of $0.81. The consensus estimate for Canadian Western Bank’s current full-year earnings is $3.61 per share. Desjardins also issued estimates for Canadian Western Bank’s FY2023 earnings at $3.25 EPS and FY2024 earnings at $3.25 EPS.
Other research analysts have also recently issued research reports about the company. Cormark cut their price target on Canadian Western Bank from C$30.00 to C$28.00 in a research note on Monday, May 29th. Scotiabank cut their price target on Canadian Western Bank from C$28.00 to C$27.00 in a research note on Monday, May 29th. Raymond James cut their price target on Canadian Western Bank from C$34.00 to C$30.00 and set an “outperform” rating on the stock in a research note on Monday, May 29th. Barclays cut their price target on Canadian Western Bank from C$27.00 to C$26.00 in a research note on Tuesday, May 30th. Finally, Royal Bank of Canada raised Canadian Western Bank from a “sector perform” rating to an “outperform” rating and lowered their price objective for the company from C$35.00 to C$34.00 in a report on Tuesday, May 30th. Five investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat, Canadian Western Bank presently has a consensus rating of “Hold” and an average price target of C$29.00.
Read Our Latest Research Report on Canadian Western Bank
Canadian Western Bank Price Performance
Shares of CWB opened at C$26.15 on Friday. The stock’s 50-day moving average is C$25.28 and its two-hundred day moving average is C$25.52. The stock has a market cap of C$2.52 billion, a PE ratio of 7.90, a P/E/G ratio of 2.95 and a beta of 1.64. Canadian Western Bank has a 12 month low of C$21.21 and a 12 month high of C$29.11.
Canadian Western Bank (TSE:CWB – Get Free Report) last announced its quarterly earnings data on Friday, May 26th. The company reported C$0.74 EPS for the quarter, missing analysts’ consensus estimates of C$0.78 by C($0.04). The business had revenue of C$264.41 million during the quarter, compared to analysts’ expectations of C$269.27 million. Canadian Western Bank had a net margin of 31.98% and a return on equity of 8.96%.
Canadian Western Bank Increases Dividend
The company also recently declared a quarterly dividend, which was paid on Thursday, June 22nd. Shareholders of record on Thursday, June 8th were given a $0.33 dividend. The ex-dividend date was Wednesday, June 7th. This is a positive change from Canadian Western Bank’s previous quarterly dividend of $0.32. This represents a $1.32 dividend on an annualized basis and a yield of 5.05%. Canadian Western Bank’s payout ratio is 39.88%.
About Canadian Western Bank
(Get Free Report)
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.
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