19:20:50 EDT Thu 31 Oct 2024
Enter Symbol
or Name
USA
CA



Canadian Western Bank
Symbol CWB
Shares Issued 96,434,034
Close 2023-12-06 C$ 30.25
Market Cap C$ 2,917,129,529
Recent Sedar Documents

Globe says Canadian Western Bank kept at "outperform"

2023-12-06 07:57 ET - In the News

The Globe and Mail reports in its Wednesday, Dec. 6, edition that National Bank Financial analyst Gabriel Dechaine has reiterated his "outperform" ranking for Canadian Western Bank, as well as his $33 share target. The Globe's David Leeder writes in the Eye On Equities column that analysts on average target the shares at $32.55. Mr. Dechaine thinks fourth quarter earnings season for Canadian banks was "an oddly satisfying finish to a difficult year," seeing the sector "poised for a short-term rally." Mr. Dechaine says in a note: "Despite Q4/23 results that were generally well received (i.e., 4/6 stocks rose in reaction to results), the sector is still underperforming the market on a year-to-date basis. We believe momentum behind the group is positive, at least in the short-term. With negative EPS revisions tied to NIM [net interest margin] and expense growth in the rear-view mirror, and with the outlook for Central Bank rate cuts generating confidence around a 'soft landing' scenario, we believe investor sentiment is turning positive." The Globe reported on Nov. 22 that Mr. Dechaine had reaffirmed his "outperform" call for Canadian Western Bank. The shares could then be had for $28.75.

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