Brokerages Set Community West Bancshares (NASDAQ:CWBC) Price Target at $28.17

Shares of Community West Bancshares (NASDAQ:CWBC) have received an average rating of “Moderate Buy” from the five research firms that are presently covering the stock, MarketBeat Ratings reports. Two research analysts have rated the stock with a hold recommendation and three have issued a buy recommendation on the company. The average 12 month target price among brokerages that have covered the stock in the last year is $28.1667.

Several equities research analysts recently issued reports on CWBC shares. Piper Sandler lifted their price target on shares of Community West Bancshares from $30.00 to $30.50 and gave the stock an “overweight” rating in a research note on Monday, April 27th. Wall Street Zen upgraded shares of Community West Bancshares from a “sell” rating to a “hold” rating in a report on Sunday, May 17th. Weiss Ratings reissued a “buy (b)” rating on shares of Community West Bancshares in a research report on Friday, July 10th. Finally, DA Davidson restated a “buy” rating and set a $29.00 target price on shares of Community West Bancshares in a research note on Tuesday, April 28th.

Community West Bancshares Price Performance

NASDAQ CWBC opened at $25.92 on Monday. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 0.12. Community West Bancshares has a fifty-two week low of $19.78 and a fifty-two week high of $28.17. The business has a 50 day moving average price of $26.16 and a two-hundred day moving average price of $24.62. The stock has a market cap of $703.21 million, a PE ratio of 14.01 and a beta of 0.80.

Community West Bancshares (NASDAQ:CWBC) last posted its quarterly earnings data on Thursday, July 23rd. The financial services provider reported $0.45 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.30 by $0.15. The company had revenue of $54.30 million for the quarter, compared to analyst estimates of $55.65 million. Community West Bancshares had a net margin of 16.86% and a return on equity of 10.12%. As a group, sell-side analysts predict that Community West Bancshares will post 2.38 EPS for the current fiscal year.

Community West Bancshares Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, August 21st. Investors of record on Friday, August 7th were issued a $0.12 dividend. The ex-dividend date of this dividend was Friday, August 7th. This represents a $0.48 dividend on an annualized basis and a yield of 1.9%. Community West Bancshares’s dividend payout ratio is currently 25.95%.

Insider Buying and Selling

In other Community West Bancshares news, Director Jagroop Gill acquired 4,770 shares of the stock in a transaction on Monday, August 10th. The stock was purchased at an average price of $24.88 per share, for a total transaction of $118,677.60. Following the purchase, the director directly owned 588,067 shares in the company, valued at $14,631,106.96. This trade represents a 0.82% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders bought a total of 5,285 shares of company stock valued at $130,770 over the last ninety days. Corporate insiders own 9.03% of the company’s stock.

Hedge Funds Weigh In On Community West Bancshares

A number of institutional investors have recently made changes to their positions in the business. KERR FINANCIAL PLANNING Corp acquired a new stake in shares of Community West Bancshares during the first quarter worth approximately $38,000. Russell Investments Group Ltd. increased its stake in shares of Community West Bancshares by 623.7% in the third quarter. Russell Investments Group Ltd. now owns 1,983 shares of the financial services provider’s stock worth $41,000 after buying an additional 1,709 shares during the last quarter. Raymond James Financial Inc. acquired a new stake in Community West Bancshares in the second quarter valued at $46,000. Tower Research Capital LLC TRC raised its holdings in Community West Bancshares by 75.5% in the second quarter. Tower Research Capital LLC TRC now owns 3,237 shares of the financial services provider’s stock valued at $63,000 after acquiring an additional 1,393 shares in the last quarter. Finally, Legal & General Group Plc bought a new position in Community West Bancshares during the 2nd quarter valued at $64,000. 33.80% of the stock is 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.