Community West Bancshares (NASDAQ:CWBC) Posts Quarterly Earnings Results, Beats Expectations By $0.09 EPS

Community West Bancshares (NASDAQ:CWBC) posted its earnings results on Thursday. The financial services provider reported $0.66 earnings per share for the quarter, topping the consensus estimate of $0.57 by $0.09, FiscalAI reports. Community West Bancshares had a net margin of 16.86% and a return on equity of 10.12%. The business had revenue of $57.69 million for the quarter, compared to analyst estimates of $56.79 million.

Community West Bancshares Price Performance

Shares of NASDAQ CWBC traded up $0.71 during trading on Thursday, reaching $26.29. The company had a trading volume of 253,175 shares, compared to its average volume of 239,184. Community West Bancshares has a 52 week low of $20.70 and a 52 week high of $28.17. The stock has a market cap of $713.27 million, a PE ratio of 14.21 and a beta of 0.82. The company has a debt-to-equity ratio of 0.12, a quick ratio of 0.89 and a current ratio of 0.89. The business’s 50 day moving average price is $26.05 and its 200-day moving average price is $25.39.

Insider Activity

In related news, Director Jagroop Gill purchased 4,770 shares of the firm’s stock in a transaction dated Monday, August 10th. The shares were acquired at an average cost of $24.88 per share, with a total value of $118,677.60. Following the completion of the purchase, the director directly owned 588,067 shares of the company’s stock, valued at $14,631,106.96. This trade represents a 0.82% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders have purchased 5,374 shares of company stock worth $133,078 in the last quarter. 9.03% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the stock. Weiss Ratings reissued a “buy (b)” rating on shares of Community West Bancshares in a report on Tuesday, October 6th. Benchmark upgraded shares of Community West Bancshares to a “strong-buy” rating in a research report on Wednesday, September 23rd. One analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $28.17.

About Community West Bancshares

Community West Bancshares is a bank holding company headquartered in Goleta, California. Through its wholly owned subsidiary, Community West Bank, the company provides banking and financial services primarily to businesses, professionals, nonprofit organizations and individuals.

Community West Bank offers commercial and industrial lending, commercial real estate loans, construction financing, Small Business Administration lending and residential mortgage products. Its deposit and business banking services include checking and savings accounts, certificates of deposit, online banking, cash management and other treasury management solutions.

The company serves customers through offices and banking operations focused on California’s Central Coast, including the Santa Barbara, Ventura and San Luis Obispo areas.