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 Tuesday. They currently have $26.00 price target 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. “

Shares of Commercewest Bank (CWBK) remained flat at $$23.70 during midday trading on Tuesday. Commercewest Bank has a fifty-two week low of $17.90 and a fifty-two week high of $24.30. The stock has a market capitalization of $91.76, a price-to-earnings ratio of 18.52 and a beta of 2.12.

Commercewest Bank (OTCBB:CWBK) last released its earnings results on Thursday, October 26th. The company reported $0.33 EPS for the quarter, missing the Zacks’ consensus estimate of $0.36 by ($0.03). The company had revenue of $5.45 million during the quarter, compared to analysts’ expectations of $5.70 million. sell-side analysts forecast that Commercewest Bank will post 1.31 EPS 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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