Canadian Western Bank (TSE:CWB) - Equities researchers at National Bank Financial issued their FY2023 earnings estimates for shares of Canadian Western Bank in a research note issued to investors on Monday, November 22nd. National Bank Financial analyst G. Dechaine anticipates that the company will post earnings per share of $4.38 for the year. National Bank Financial currently has a "Sector Perform" rating and a $41.00 target price on the stock. Canadian Western Bank (TSE:CWB) last released its quarterly earnings data on Friday, August 27th. The company reported C$1.01 earnings per share for the quarter, beating the Thomson Reuters' consensus estimate of C$0.86 by C$0.15. The company had revenue of C$263.22 million during the quarter, compared to analyst estimates of C$256.15 million.
Several other research analysts have also weighed in on the company. CIBC upped their target price on Canadian Western Bank from C$44.00 to C$46.00 in a research report on Monday. Raymond James raised shares of Canadian Western Bank from a "market perform" rating to an "outperform" rating and boosted their target price for the stock from C$39.25 to C$41.00 in a research report on Monday, September 13th. National Bankshares raised their price target on shares of Canadian Western Bank from C$40.00 to C$41.00 and gave the company a "sector perform" rating in a report on Monday, August 30th. Credit Suisse Group raised their target price on Canadian Western Bank to C$45.00 and gave the company a "sector peform" rating in a report on Wednesday, September 1st. Finally, TD Securities upped their price target on Canadian Western Bank from C$42.00 to C$44.00 in a research note on Tuesday. Four research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Buy" and a consensus price target of C$41.58.
Canadian Western Bank stock opened at C$39.45 on Thursday. Canadian Western Bank has a 12 month low of C$27.99 and a 12 month high of C$41.56. The stock has a market cap of C$3.48 billion and a P/E ratio of 11.43. The company's fifty day simple moving average is C$38.36 and its 200-day simple moving average is C$36.19.
The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 23rd. Shareholders of record on Thursday, September 9th were given a $0.29 dividend. The ex-dividend date of this dividend was Wednesday, September 8th. This represents a $1.16 dividend on an annualized basis and a dividend yield of 2.94%. Canadian Western Bank's dividend payout ratio is currently 33.62%.
In other Canadian Western Bank news, Senior Officer Vladimir Ahmad sold 775 shares of the business's stock in a transaction on Wednesday, October 20th. The shares were sold at an average price of C$39.00, for a total value of C$30,225.00. Following the sale, the insider now owns 26,100 shares of the company's stock, valued at approximately C$1,017,900. Also, Senior Officer Patrick Gallagher sold 1,930 shares of the company's stock in a transaction dated Wednesday, October 13th. The shares were sold at an average price of C$38.57, for a total transaction of C$74,440.10. Following the completion of the sale, the insider now directly owns 4,140 shares in the company, valued at approximately C$159,679.80. Insiders have sold a total of 12,205 shares of company stock worth $473,779 in the last three months.
About Canadian Western Bank
Canadian Western Bank provides personal and business banking products and services primarily in Western Canada. The company offers current, savings, cash management, US dollar, and chequing accounts, as well as organization, strata solution/condo, general trust, and trust fund investment accounts. It also offers commercial lending and real estate, and equipment financing and leasing products; loans and mortgages; secured and unsecured lines of credit; registered retirement savings plan; consolidation, vehicle, and recreation vehicle loans; and credit cards.
Further Reading: Net Margin
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to [email protected]
Before you consider Canadian Western Bank, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Canadian Western Bank wasn't on the list.
While Canadian Western Bank currently has a "Buy" rating among analysts, top-rated analysts believe these five stocks are better buys.
View The 5 Stocks Here