Canadian Western Bank Expected to Post FY2019 Earnings of $3.23 Per Share (CWB)

Canadian Western Bank (TSE:CWB) – Stock analysts at Desjardins reduced their FY2019 earnings per share estimates for Canadian Western Bank in a report issued on Tuesday, November 6th. Desjardins analyst D. Young now expects that the company will earn $3.23 per share for the year, down from their previous estimate of $3.29. Desjardins also issued estimates for Canadian Western Bank’s FY2020 earnings at $3.47 EPS.

Canadian Western Bank (TSE:CWB) last posted its earnings results on Thursday, August 30th. The company reported C$0.75 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of C$0.77 by C($0.02). The company had revenue of C$204.99 million during the quarter, compared to the consensus estimate of C$205.70 million.

Separately, Royal Bank of Canada cut their target price on Canadian Western Bank from C$42.00 to C$40.00 and set an “outperform” rating on the stock in a research note on Friday, August 31st. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and three have assigned a buy rating to the company’s stock. Canadian Western Bank presently has a consensus rating of “Hold” and a consensus price target of C$39.50.

TSE CWB opened at C$32.92 on Wednesday. Canadian Western Bank has a 1 year low of C$29.81 and a 1 year high of C$40.83.

In other news, insider Lester Shore acquired 1,000 shares of the business’s stock in a transaction on Wednesday, October 31st. The shares were acquired at an average cost of C$30.73 per share, with a total value of C$30,730.00. Over the last ninety days, insiders have acquired 2,850 shares of company stock worth $90,443.

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, senior, chequing, youth, and student accounts, as well as specialized accounts, including corporate and commercial, organization, strata solution/condo, general trust, and trust fund investment accounts.

Further Reading: What does cost of debt say about a company’s financial health?

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

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