Community West Bancshares to Post FY2024 Earnings of $1.67 Per Share, DA Davidson Forecasts (NASDAQ:CWBC)

Community West Bancshares (NASDAQ:CWBC) – Stock analysts at DA Davidson cut their FY2024 earnings per share estimates for Community West Bancshares in a research report issued to clients and investors on Tuesday, April 23rd. DA Davidson analyst G. Tenner now anticipates that the financial services provider will post earnings per share of $1.67 for the year, down from their previous estimate of $2.08. The consensus estimate for Community West Bancshares’ current full-year earnings is $1.68 per share.

A number of other equities analysts have also commented on CWBC. TheStreet lowered Community West Bancshares from a “b-” rating to a “c+” rating in a research note on Monday, January 29th. StockNews.com lowered Community West Bancshares from a “hold” rating to a “sell” rating in a research note on Monday. Keefe, Bruyette & Woods lowered their price objective on Community West Bancshares from $23.00 to $22.00 and set a “market perform” rating for the company in a research note on Monday. Finally, Piper Sandler raised their price objective on Community West Bancshares from $22.00 to $24.00 and gave the company an “overweight” rating in a research note on Monday, April 15th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and two have issued a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $20.33.

Community West Bancshares Price Performance

Shares of Community West Bancshares stock opened at $17.97 on Thursday. The stock has a 50 day moving average of $16.07 and a 200 day moving average of $15.16. Community West Bancshares has a 12 month low of $12.59 and a 12 month high of $24.47. The firm has a market cap of $160.11 million, a PE ratio of 9.51 and a beta of 0.85. The company has a current ratio of 0.65, a quick ratio of 0.65 and a debt-to-equity ratio of 0.34.

Community West Bancshares (NASDAQ:CWBC) last released its earnings results on Friday, January 26th. The financial services provider reported $0.05 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.24 by ($0.19). Community West Bancshares had a return on equity of 11.58% and a net margin of 20.04%. The business had revenue of $11.02 million for the quarter, compared to analysts’ expectations of $11.60 million.

Institutional Investors Weigh In On Community West Bancshares

An institutional investor recently raised its position in Community West Bancshares stock. Black Maple Capital Management LP increased its holdings in shares of Community West Bancshares (NASDAQ:CWBC) by 8.8% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 17,475 shares of the financial services provider’s stock after acquiring an additional 1,417 shares during the period. Black Maple Capital Management LP owned about 0.20% of Community West Bancshares worth $304,000 at the end of the most recent quarter. 33.80% of the stock is currently owned by institutional investors.

Community West Bancshares Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 17th. Investors of record on Friday, May 3rd will be paid a dividend of $0.12 per share. This is a positive change from Community West Bancshares’s previous quarterly dividend of $0.08. This represents a $0.48 dividend on an annualized basis and a dividend yield of 2.67%. The ex-dividend date of this dividend is Thursday, May 2nd. Community West Bancshares’s dividend payout ratio (DPR) is currently 25.40%.

Community West Bancshares Company Profile

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.