Community West Bancshares (NASDAQ:CWBC) Price Target Raised to $29.00

Community West Bancshares (NASDAQ:CWBC) had its target price raised by DA Davidson from $26.00 to $29.00 in a research note released on Monday, Marketbeat reports. They currently have a buy rating on the financial services provider’s stock.

Several other equities research analysts have also commented on CWBC. Weiss Ratings restated a “buy (b-)” rating on shares of Community West Bancshares in a report on Monday, December 29th. Keefe, Bruyette & Woods lifted their price objective on shares of Community West Bancshares from $23.00 to $25.00 and gave the company a “market perform” rating in a report on Wednesday, December 31st. Finally, Zacks Research raised shares of Community West Bancshares from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, December 31st. 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 stock. Based on data from MarketBeat.com, Community West Bancshares presently has a consensus rating of “Buy” and a consensus price target of $24.33.

Community West Bancshares Trading Down 0.6%

CWBC opened at $23.33 on Monday. The company has a quick ratio of 0.84, a current ratio of 0.84 and a debt-to-equity ratio of 0.18. The stock’s fifty day moving average is $22.97 and its two-hundred day moving average is $21.53. The company has a market capitalization of $447.00 million, a P/E ratio of 11.67 and a beta of 0.92. Community West Bancshares has a 52 week low of $15.57 and a 52 week high of $24.67.

Community West Bancshares (NASDAQ:CWBC) last issued its earnings results on Thursday, January 22nd. The financial services provider reported $0.60 earnings per share for the quarter, topping the consensus estimate of $0.57 by $0.03. The business had revenue of $38.30 million during the quarter, compared to analysts’ expectations of $38.38 million. Community West Bancshares had a return on equity of 10.11% and a net margin of 19.45%. Analysts forecast that Community West Bancshares will post 2.15 earnings per share for the current year.

Community West Bancshares Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, February 20th. Shareholders of record on Friday, February 6th will be paid a $0.12 dividend. This represents a $0.48 annualized dividend and a yield of 2.1%. The ex-dividend date is Friday, February 6th. Community West Bancshares’s dividend payout ratio (DPR) is 24.00%.

Institutional Trading of Community West Bancshares

Institutional investors have recently made changes to their positions in the business. Elevation Point Wealth Partners LLC grew its stake in shares of Community West Bancshares by 75.6% during the second quarter. Elevation Point Wealth Partners LLC now owns 25,458 shares of the financial services provider’s stock worth $497,000 after acquiring an additional 10,961 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. boosted its stake in Community West Bancshares by 7.9% in the 2nd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 49,747 shares of the financial services provider’s stock worth $971,000 after purchasing an additional 3,633 shares in the last quarter. Bridgewealth Advisory Group LLC grew its position in Community West Bancshares by 110.8% during the 2nd quarter. Bridgewealth Advisory Group LLC now owns 25,800 shares of the financial services provider’s stock worth $503,000 after purchasing an additional 13,560 shares during the last quarter. Farther Finance Advisors LLC grew its position in Community West Bancshares by 2,945.9% during the 4th quarter. Farther Finance Advisors LLC now owns 3,381 shares of the financial services provider’s stock worth $76,000 after purchasing an additional 3,270 shares during the last quarter. Finally, Daytona Street Capital LLC acquired a new position in Community West Bancshares during the 4th quarter valued at approximately $267,000. Institutional investors and hedge funds own 33.80% of the company’s stock.

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.