Would love some rough itinerary help as to how to divide our time/where to book accomodations! We are four mid 40s women, enjoy moderate hikes/beautiful scenery, travel August 27 - Sept 2.
Day 1 (Tues) - 3 of us fly into Calgary mid morning
Day 2 (Wed) - Have to return to Calgary 10pm to pick up 4th friend
Day 3 - Day 5 (Thurs - Sat) - Open
Day 6 (Sun) - Return to Calgary at night for very early Monday am flight home

Can we fit in Jasper, Yoho, and Banff? Should we stay in one location and day trip or should we move around?

Not enough time for Jasper, certainly. It's too long of a drive for such a short stay.

I think you definitely have time to visit all three places mentioned! It only takes about an hour to get from Calgary to Banff so I would suggest going there for the day while you wait for your 4th friend to land! Unfortunately she will miss some of the action but you could still spend more time in Banff the following day! I personally would have one full day per location, it will be slightly rushed as there is soooo much to see but beautiful drives between your destinations. I would plan to leave Jasper Sunday morning and stop at any places you missed on your way up! The drive should only take about 4.5 to 5hrs to get back to Calgary so make a day of it Sounds like a great trip - enjoy!

Jasper and Banff are just towns. "Downtown" Banff can be busy like a big city center and it's no fun at all. I'd avoid the town site. If you need food and supplies, do it in Calgary, Canmore or Lake Louise. I think you could skip Jasper but drive as far as the Icefield Center,. The southern part of the Icefield Parkway is the most interesting anyway IMO. If you do make it to Jasper, Maligne Lake is a nice drive for wildlife and Edith Cavell is a nice hike in early morning. The earlier the better.