Canadian Western Bank (CWB) Set to Announce Earnings on Friday

Canadian Western Bank (TSE:CWB) will be releasing its earnings data before the market opens on Friday, August 30th. Analysts expect Canadian Western Bank to post earnings of C$0.87 per share for the quarter.

Canadian Western Bank (TSE:CWB) last posted its earnings results on Friday, May 31st. The company reported C$0.81 EPS for the quarter, missing the consensus estimate of C$0.86 by C($0.05). The business had revenue of C$285.92 million for the quarter, compared to analyst estimates of C$290.33 million. Canadian Western Bank had a return on equity of 8.66% and a net margin of 32.29%.

Canadian Western Bank Price Performance

Canadian Western Bank stock opened at C$52.42 on Thursday. The company has a market capitalization of C$5.06 billion, a price-to-earnings ratio of 15.60, a PEG ratio of 2.95 and a beta of 1.39. The company’s fifty day moving average price is C$46.24 and its two-hundred day moving average price is C$34.60. Canadian Western Bank has a one year low of C$24.66 and a one year high of C$52.80.

Canadian Western Bank Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, June 20th. Investors of record on Thursday, June 6th were paid a $0.35 dividend. This represents a $1.40 annualized dividend and a dividend yield of 2.67%. The ex-dividend date of this dividend was Thursday, June 6th. This is a boost from Canadian Western Bank’s previous quarterly dividend of $0.34. Canadian Western Bank’s dividend payout ratio (DPR) is presently 41.67%.

Insider Transactions at Canadian Western Bank

In other news, Senior Officer Jenny Siman sold 1,000 shares of Canadian Western Bank stock in a transaction that occurred on Monday, July 22nd. The shares were sold at an average price of C$46.05, for a total transaction of C$46,050.00. In other news, Senior Officer Trent Albert Erickson acquired 4,312 shares of Canadian Western Bank stock in a transaction that occurred on Friday, June 14th. The shares were acquired at an average price of C$41.44 per share, with a total value of C$178,680.66. Also, Senior Officer Jenny Siman sold 1,000 shares of Canadian Western Bank stock in a transaction that occurred on Monday, July 22nd. The stock was sold at an average price of C$46.05, for a total transaction of C$46,050.00. 0.46% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on CWB shares. Royal Bank of Canada lowered shares of Canadian Western Bank from an “outperform” rating to a “sector perform” rating and lowered their price target for the company from C$32.00 to C$28.00 in a report on Monday, June 3rd. CIBC cut shares of Canadian Western Bank from a “neutral” rating to a “tender” rating and upped their target price for the company from C$30.00 to C$55.80 in a research note on Tuesday, June 18th. Scotiabank increased their price target on shares of Canadian Western Bank from C$30.00 to C$52.00 and gave the stock an “outperform” rating in a research report on Tuesday, June 18th. BMO Capital Markets downgraded Canadian Western Bank from an “outperform” rating to a “market perform” rating and lifted their price objective for the company from C$35.00 to C$52.00 in a report on Wednesday, June 12th. Finally, Jefferies Financial Group increased their target price on Canadian Western Bank from C$28.00 to C$52.00 and gave the stock a “hold” rating in a report on Thursday, June 13th. Four analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of C$40.29.

Canadian Western Bank Company Profile

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.