DA Davidson Boosts Community West Bancshares (NASDAQ:CWBC) Price Target to $29.00

Community West Bancshares (NASDAQ:CWBC) had its price target lifted by equities research analysts at DA Davidson from $26.00 to $29.00 in a note issued to investors on Monday,Benzinga reports. The brokerage currently has a “buy” rating on the financial services provider’s stock. DA Davidson’s price target points to a potential upside of 21.70% from the company’s current price.

CWBC has been the topic of a number of other research reports. Keefe, Bruyette & Woods increased their price target on Community West Bancshares from $23.00 to $25.00 and gave the company a “market perform” rating in a research note on Wednesday, December 31st. Weiss Ratings reissued a “buy (b-)” rating on shares of Community West Bancshares in a research note on Monday, December 29th. Finally, Zacks Research upgraded Community West Bancshares from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, December 31st. One equities research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and an average target price of $24.33.

Community West Bancshares Trading Down 0.1%

Community West Bancshares stock traded down $0.02 during mid-day trading on Monday, hitting $23.83. The stock had a trading volume of 13,700 shares, compared to its average volume of 101,575. The stock has a 50-day simple moving average of $22.84 and a two-hundred day simple moving average of $21.47. The company has a current ratio of 0.84, a quick ratio of 0.84 and a debt-to-equity ratio of 0.18. The stock has a market capitalization of $456.58 million, a PE ratio of 11.92 and a beta of 0.92. Community West Bancshares has a 12 month low of $15.57 and a 12 month high of $24.67.

Community West Bancshares (NASDAQ:CWBC) last announced its quarterly earnings data on Thursday, January 22nd. The financial services provider reported $0.60 earnings per share for the quarter, topping the consensus estimate of $0.57 by $0.03. The firm had revenue of $38.30 million during the quarter, compared to analysts’ expectations of $38.38 million. Community West Bancshares had a return on equity of 10.11% and a net margin of 19.45%. As a group, sell-side analysts forecast that Community West Bancshares will post 2.15 EPS for the current year.

Institutional Trading of Community West Bancshares

A number of hedge funds and other institutional investors have recently made changes to their positions in CWBC. First Trust Advisors LP boosted its holdings in Community West Bancshares by 418.3% during the third quarter. First Trust Advisors LP now owns 63,054 shares of the financial services provider’s stock worth $1,314,000 after purchasing an additional 50,889 shares during the last quarter. Marshall Wace LLP lifted its position 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 worth $1,082,000 after buying an additional 36,499 shares in the last quarter. Jane Street Group LLC acquired a new position in shares of Community West Bancshares during the 1st quarter worth about $591,000. Hsbc Holdings PLC bought a new position in shares of Community West Bancshares in the 2nd quarter valued at about $485,000. Finally, Bank of America Corp DE grew its holdings in shares of Community West Bancshares by 195.4% in the 2nd quarter. Bank of America Corp DE now owns 32,651 shares of the financial services provider’s stock valued at $637,000 after acquiring an additional 21,599 shares in the last quarter. 33.80% of the stock is currently owned by institutional investors and hedge funds.

About Community West Bancshares

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.