Community West Bancshares (NASDAQ:CWBC) Announces Earnings Results, Beats Expectations By $0.03 EPS

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

Community West Bancshares Trading Up 0.4%

Community West Bancshares stock traded up $0.10 during trading hours on Thursday, reaching $23.88. 66,801 shares of the company’s stock traded hands, compared to its average volume of 105,283. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.84 and a current ratio of 0.84. Community West Bancshares has a fifty-two week low of $15.57 and a fifty-two week high of $24.36. The firm has a market capitalization of $457.54 million, a price-to-earnings ratio of 13.42 and a beta of 0.92. The firm’s 50 day moving average is $22.75 and its 200-day moving average is $21.43.

Hedge Funds Weigh In On Community West Bancshares

Several large investors have recently bought and sold shares of CWBC. Mercer Global Advisors Inc. ADV increased its position in shares of Community West Bancshares by 21.9% in the 3rd quarter. Mercer Global Advisors Inc. ADV now owns 26,497 shares of the financial services provider’s stock valued at $552,000 after buying an additional 4,752 shares in the last quarter. Two Sigma Investments LP grew its stake 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 acquiring an additional 18,151 shares during the period. Arrowstreet Capital Limited Partnership bought a new stake in shares of Community West Bancshares in the third quarter worth about $304,000. BNP Paribas Financial Markets raised its position in shares of Community West Bancshares by 65.7% during the third quarter. BNP Paribas Financial Markets now owns 7,795 shares of the financial services provider’s stock worth $162,000 after purchasing an additional 3,090 shares during the period. Finally, Russell Investments Group Ltd. raised its position in shares of Community West Bancshares by 623.7% during the third quarter. Russell Investments Group Ltd. now owns 1,983 shares of the financial services provider’s stock worth $41,000 after purchasing an additional 1,709 shares during the period. 33.80% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

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

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.