Canadian Western Bank (CWB.TO) Buy, Sell or…

Canadian Western Bank (CWB.TO)

56.63

-0.62 (1.08%)

as of Feb 4, 2025, 9:00:00 pm Market Open.

174 watching

BUY

Only bank he owns. Today they absolutely crushed earnings. This bank and Laurentian are the two that tend to have earnings different than the others. It’s definitely going higher.

PAST TOP PICK

(A Top Pick Oct 16/09. Up 6.05%.)

HOLD

Great bank in Western Canada and has done very well. Canadian banks are now trading at the higher end of their multiple ranges. If you want higher upside, look to banks outside of Canada. (See Top Picks.)

PAST TOP PICK

(Top Pick Oct 16/09, Up 11.6%) This was relatively cheap compared to its peak. Earnings were not as high as he thought, so he took profits. He would buy back in at $20-21

DON'T BUY

Well-managed bank, small. What do you get from a western Canadian bank that you don’t get from the big 6. He would rather stick with the big ones. It might get taken out and it wouldn’t be objected to because of its size.

SELL

Fourth quarter came in lower than expected. He sold it from his fund.

PAST TOP PICK

(Top Pick Oct 16/09, Down 6.76%)

PAST TOP PICK

(A Top Pick Oct 16/09. Up .04%.) Terrific managers. Still a Buy.

BUY

A very well run company. Sold it from HIS fund last year because of worry about interest margin compression, but that’s come and gone. They have a terrific management team. Grows conservatively and responsively and can expand across the country if they choose to. Hold it 2-5 years.

TOP PICK

With all the moving up of the resource area, this is the Canadian Western economy and this bank has a pulse on this. Think things will pick up very nicely in the next 2 or 3 quarters. Going back to $30 is very realistic. 2% yield.

BUY

Has been a very growth oriented bank. Last quarter came out better than expected. Had some preferred issues that short up there capital and balance sheet. Well run bank.

DON'T BUY

(Market Call Minute.) Well run, low financial risk bank but is tied into the Western Canadian economy, which is more natural gas than oil. When there is a recovery in Western Canada, this is one you would want to own.

COMMENT

Different than the big 6 Canadian banks in that it’s a regional and only in Western Canada. Large concentration of its customers is in energy. Has no US operation so not affected by bad paper. On the way down was better than the others but on the way up doesn't have the economic exposure. Relatively good safe bank but not a lot of yield. Good for growth and exposure in the West.

DON'T BUY

Retail bank, so no capital exposure like other banks. Perceived as a growth bank a year or so ago but with the sell-off in oil prices and the slowdown in the Alta and BC economies it is now trading more in line with other Cdn banks. This is buying a recovery in the Alberta housing market and it’s a little too early.

HOLD

(Market Call Minute.) Banks in general have been beaten up. Ranks neutral in the model.

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Canadian Western Bank (CWB.TO)