Commercewest Bank (CWBK) Upgraded to “Buy” by Zacks Investment Research
Zacks Investment Research upgraded shares of Commercewest Bank (OTCBB:CWBK) from a hold rating to a buy rating in a research report report published on Monday morning. They currently have $26.00 target price on the stock.
According to Zacks, “CommerceWest Bank provides a wide range of specialized commercial banking and financial services to entrepreneurs and small- to mid-sized businesses in southern California. Headquartered in Irvine, California, the company offers basic and analyzed checking accounts, money market accounts, saving accounts, certificates of deposit, attorney client services, and escrow accounts. The banks lending portfolio includes lines of credit; term loans; multifamily, construction, and commercial real estate loans; equipment financing; asset-based lines of credit; small business administration loans; state guaranteed programs; and letter of credit. It also offers online banking services, such as balance transfers, stop payments, make loan payments, and loan transfers. The company also offers various cash management services, signature services, and turnaround services. Regional offices are located throughout Southern California in Orange County, Inland Empire and Los Angeles. “
Commercewest Bank (CWBK) traded up $0.20 during trading on Monday, hitting $23.00. 1,800 shares of the stock were exchanged, compared to its average volume of 4,702. Commercewest Bank has a 12-month low of $17.90 and a 12-month high of $23.50. The company has a market cap of $88.28, a P/E ratio of 17.97 and a beta of 2.12.
Commercewest Bank (OTCBB:CWBK) last posted its earnings results on Thursday, October 26th. The company reported $0.33 earnings per share for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.03). The firm had revenue of $5.45 million for the quarter, compared to analysts’ expectations of $5.70 million. analysts forecast that Commercewest Bank will post 1.31 earnings per share for the current year.
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Commercewest Bank Company Profile
CommerceWest Bank, N.A. provides various commercial banking services to the small and mid-sized businesses in southern California. It offers checking accounts, money market deposit accounts, saving accounts, certificates of deposits, sweep accounts, attorney client trust accounts, and now and escrow trust accounts; and real estate loans, such as owner user commercial real estate loans, commercial or industrial building loans, office and retail building loans, and multi-family real estate loans.
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