Piper Sandler Raises Community West Bancshares (NASDAQ:CWBC) Price Target to $24.00

Community West Bancshares (NASDAQ:CWBC) had its target price upped by Piper Sandler from $22.00 to $24.00 in a report issued on Monday morning, Benzinga reports. Piper Sandler currently has an overweight rating on the financial services provider’s stock.

Several other analysts also recently weighed in on the company. StockNews.com started coverage on Community West Bancshares in a research report on Tuesday, April 2nd. They issued a hold rating for the company. TheStreet lowered shares of Community West Bancshares from a b- rating to a c+ rating in a report on Monday, January 29th.

Community West Bancshares Price Performance

Shares of Community West Bancshares stock opened at $18.24 on Monday. The company has a debt-to-equity ratio of 0.34, a quick ratio of 0.65 and a current ratio of 0.65. Community West Bancshares has a 52-week low of $12.59 and a 52-week high of $24.47. The company has a fifty day moving average of $15.66 and a 200-day moving average of $14.98. The stock has a market capitalization of $162.52 million, a price-to-earnings ratio of 8.41 and a beta of 0.85.

Community West Bancshares (NASDAQ:CWBC) last posted its quarterly earnings results on Thursday, January 18th. The financial services provider reported $0.50 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.52 by ($0.02). Community West Bancshares had a net margin of 23.39% and a return on equity of 13.47%. The business had revenue of $22.38 million for the quarter, compared to analysts’ expectations of $21.86 million. Equities research analysts expect that Community West Bancshares will post 1.85 EPS for the current year.

Community West Bancshares Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, February 29th. Shareholders of record on Friday, February 9th were issued a $0.08 dividend. This represents a $0.32 annualized dividend and a yield of 1.75%. The ex-dividend date was Thursday, February 8th. Community West Bancshares’s dividend payout ratio (DPR) is currently 22.12%.

Hedge Funds Weigh In On Community West Bancshares

Several hedge funds have recently made changes to their positions in the business. Royal Bank of Canada bought a new stake in Community West Bancshares in the fourth quarter valued at $90,000. Jane Street Group LLC purchased a new stake in shares of Community West Bancshares in the 1st quarter worth about $165,000. Renaissance Technologies LLC purchased a new position in shares of Community West Bancshares during the first quarter valued at about $214,000. Alliancebernstein L.P. bought a new position in Community West Bancshares in the fourth quarter worth about $237,000. Finally, State Street Corp raised its stake in Community West Bancshares by 44.9% in the second quarter. State Street Corp now owns 17,252 shares of the financial services provider’s stock worth $247,000 after buying an additional 5,343 shares in the last quarter. 33.80% of the stock is owned by hedge funds and other institutional investors.

About Community West Bancshares

Community West Bancshares operates as the bank holding company for Community West Bank, N.A. that provides various financial products and services in California. The company offers deposit products, such as checking accounts, savings accounts, money market accounts, and fixed rate and fixed maturity certificates of deposits; and cash management products.