Community West Bancshares (NASDAQ:CWBC) Issues Quarterly Earnings Results

Community West Bancshares (NASDAQ:CWBC) released its quarterly earnings results on Thursday. The financial services provider reported $0.60 EPS for the quarter, beating analysts’ consensus estimates of $0.57 by $0.03, FiscalAI reports. Community West Bancshares had a net margin of 17.49% and a return on equity of 9.10%. The company had revenue of $38.30 million for the quarter, compared to analyst estimates of $38.38 million.

Community West Bancshares Stock Performance

Shares of NASDAQ CWBC traded up $0.10 during mid-day trading on Thursday, hitting $23.88. The company had a trading volume of 66,801 shares, compared to its average volume of 105,283. Community West Bancshares has a 12 month low of $15.57 and a 12 month high of $24.36. The firm has a market cap of $457.54 million, a P/E ratio of 13.42 and a beta of 0.92. The business’s 50-day simple moving average is $22.75 and its 200-day simple moving average is $21.43. The company has a debt-to-equity ratio of 0.18, a current ratio of 0.84 and a quick ratio of 0.84.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on CWBC. Zacks Research upgraded shares of Community West Bancshares from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, December 31st. Keefe, Bruyette & Woods raised their price target on Community West Bancshares from $23.00 to $25.00 and gave the company a “market perform” rating in a research report on Wednesday, December 31st. DA Davidson lifted their price objective on Community West Bancshares from $25.00 to $26.00 and gave the stock a “buy” rating in a research note on Friday, December 19th. Finally, Weiss Ratings reissued a “buy (b-)” rating on shares of Community West Bancshares in a research report on Monday, December 29th. One equities research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and one has assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Buy” and a consensus target price of $23.33.

Institutional Trading of Community West Bancshares

Hedge funds have recently modified their holdings of the company. Dimensional Fund Advisors LP lifted its holdings in shares of Community West Bancshares by 2.2% during the third quarter. Dimensional Fund Advisors LP now owns 786,040 shares of the financial services provider’s stock valued at $16,381,000 after acquiring an additional 17,244 shares during the period. First Trust Advisors LP lifted its holdings in Community West Bancshares by 418.3% during the 3rd quarter. First Trust Advisors LP now owns 63,054 shares of the financial services provider’s stock valued at $1,314,000 after purchasing an additional 50,889 shares during the last quarter. Marshall Wace LLP lifted its holdings in Community West Bancshares by 192.6% during the 2nd quarter. Marshall Wace LLP now owns 55,451 shares of the financial services provider’s stock valued at $1,082,000 after purchasing an additional 36,499 shares during the last quarter. Two Sigma Investments LP boosted its position in Community West Bancshares by 75.0% in the third quarter. Two Sigma Investments LP now owns 42,356 shares of the financial services provider’s stock valued at $883,000 after buying an additional 18,151 shares in the last quarter. Finally, Bank of America Corp DE grew its stake in Community West Bancshares by 195.4% during the second quarter. Bank of America Corp DE now owns 32,651 shares of the financial services provider’s stock worth $637,000 after buying an additional 21,599 shares during the last quarter. Institutional investors own 33.80% of the company’s stock.

Community West Bancshares Company Profile

Community West Bancshares, Inc is the bank holding company for Community West Bank, headquartered in Goleta, California. Through its wholly owned subsidiary, the company offers a full suite of commercial and consumer banking services. Community West Bancshares focuses on providing personalized financial solutions to small and mid-sized businesses, professional practices, and individual customers in its service area.

The company’s product portfolio includes a variety of deposit accounts—such as business checking, savings and money market accounts—along with online and mobile banking capabilities.