Canadian Western Bank Expected to Earn FY2023 Earnings of $3.64 Per Share (TSE:CWB)

Canadian Western Bank (TSE:CWB – Get Rating) – Equities researchers at Cormark raised their FY2023 earnings per share estimates for shares of Canadian Western Bank in a research report issued on Tuesday, May 23rd. Cormark analyst L. Persaud now forecasts that the company will post earnings of $3.64 per share for the year, up from their prior estimate 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 posted its quarterly earnings results on Thursday, March 2nd. The company reported C$1.02 earnings per share for the quarter, topping the consensus estimate of C$0.89 by C$0.13. Canadian Western Bank had a return on equity of 9.18% and a net margin of 32.57%. The business had revenue of C$272.89 million during the quarter, compared to the consensus estimate of C$275.10 million.

CWB has been the subject of several other reports. Barclays dropped their price target on Canadian Western Bank from C$29.00 to C$27.00 in a research note on Tuesday, May 9th. CIBC dropped their price target on Canadian Western Bank from C$30.00 to C$28.00 in a research note on Tuesday, May 16th. TD Securities lowered their target price on Canadian Western Bank from C$34.00 to C$33.00 and set a “buy” rating for the company in a research report on Friday, March 3rd. Scotiabank lowered their target price on Canadian Western Bank from C$29.00 to C$28.00 in a research report on Friday, February 17th. Finally, CSFB lowered their target price on Canadian Western Bank from C$28.00 to C$26.00 in a research report on Tuesday, May 16th. Six investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of C$30.08.

Canadian Western Bank Price Performance

CWB stock opened at C$24.42 on Wednesday. Canadian Western Bank has a 1-year low of C$21.21 and a 1-year high of C$33.33. The company has a market capitalization 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. The business has a 50 day simple moving average of C$24.22 and a two-hundred day simple moving average of C$25.35.

Canadian Western Bank Dividend Announcement

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

Insider Activity at Canadian Western Bank

In other Canadian Western Bank news, Senior Officer Azfar Karimuddin sold 1,050 shares of the stock in a transaction on 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 currently 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.