The Globe and Mail reports in its Thursday, Nov. 23, edition that RBC Dominion Securities analyst Darko Mihelic is "expecting some noise and some clarity" from Canadian banks during earnings season. The Globe's David Leeder writes that Mr. Mihelic is reducing his earnings per share expectations by an average of 10 per cent across the banking sector. His new projections now imply an earnings-per-share drop of 3.3 per cent versus the third quarter and a decline of 6.7 per cent year-over-year. He says, "We lowered capital markets revenues, increased 'one-time-ish' expenses, and upped stage two PCL assumptions." Mr. Mihelic has reaffirmed his "outperform" recommendation for Canadian Western Bank. He targets the shares at $34. Analysts on average target the shares at $32.55. Mr. Mihelic says in a note: "For Canadian Western Bank, we forecast core earnings per share to decrease 1 per cent quarter-over-quarter mainly reflecting higher impaired PCLs of $18.9-million (up from $9.7-million last quarter) more than offsetting our expected 1-per-cent quarter-over-quarter increase in revenues. ... We believe Canadian Western Bank will announce a one-cent increase to its quarterly dividend."