Cormark Weighs in on Canadian Western Bank’s FY2022 Earnings (TSE:CWB)

Canadian Western Bank (TSE:CWBGet Rating) – Research analysts at Cormark decreased their FY2022 earnings per share (EPS) estimates for shares of Canadian Western Bank in a note issued to investors on Monday, May 30th. Cormark analyst L. Persaud now anticipates that the company will post earnings of $3.71 per share for the year, down from their prior forecast of $3.86. Cormark also issued estimates for Canadian Western Bank’s Q4 2022 earnings at $0.90 EPS, Q1 2023 earnings at $1.03 EPS, Q3 2023 earnings at $1.09 EPS and FY2023 earnings at $4.05 EPS.

Several other analysts also recently commented on CWB. Credit Suisse Group reduced their target price on shares of Canadian Western Bank to C$33.00 and set a “neutral” rating for the company in a report on Monday. National Bankshares dropped their price objective on shares of Canadian Western Bank from C$44.00 to C$38.00 and set an “outperform” rating for the company in a research note on Monday. Royal Bank of Canada dropped their price objective on shares of Canadian Western Bank from C$44.00 to C$38.00 and set a “sector perform” rating for the company in a research note on Monday. Barclays dropped their price objective on shares of Canadian Western Bank to C$36.00 and set an “equal weight” rating for the company in a research note on Monday. Finally, Scotiabank dropped their target price on shares of Canadian Western Bank from C$44.00 to C$37.00 in a research report on Monday. Five analysts have rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Buy” and a consensus price target of C$36.68.

Shares of CWB opened at C$30.14 on Thursday. The firm has a 50-day moving average of C$33.32 and a 200-day moving average of C$36.25. Canadian Western Bank has a one year low of C$29.68 and a one year high of C$41.56. The company has a market cap of C$2.76 billion and a PE ratio of 8.08.

In other Canadian Western Bank news, Senior Officer Niall Boles sold 1,300 shares of the business’s stock in a transaction that occurred on Wednesday, April 20th. The shares were sold at an average price of C$34.60, for a total transaction of C$44,975.06. Following the sale, the insider now directly owns 32 shares of the company’s stock, valued at approximately C$1,107.08.

Canadian Western Bank Company Profile (Get Rating)

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.

See Also

Earnings History and Estimates for Canadian Western Bank (TSE:CWB)

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