Community West Bancshares (NASDAQ:CWBC) Issues Quarterly Earnings Results, Beats Estimates By $0.05 EPS

Community West Bancshares (NASDAQ:CWBC) announced its earnings results on Thursday. The financial services provider reported $0.61 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.56 by $0.05, Zacks reports. Community West Bancshares had a return on equity of 10.60% and a net margin of 20.77%.The company had revenue of $38.79 million for the quarter, compared to analyst estimates of $38.23 million.

Community West Bancshares Stock Up 1.0%

Shares of CWBC stock opened at $24.19 on Friday. The stock’s 50-day simple moving average is $23.41 and its 200-day simple moving average is $22.85. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.85 and a current ratio of 0.85. The firm has a market capitalization of $463.70 million, a PE ratio of 11.20 and a beta of 0.89. Community West Bancshares has a fifty-two week low of $17.01 and a fifty-two week high of $25.72.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on CWBC shares. DA Davidson upped their target price on Community West Bancshares from $26.00 to $29.00 and gave the company a “buy” rating in a research report on Monday, January 26th. Zacks Research lowered Community West Bancshares from a “strong-buy” rating to a “hold” rating in a research report on Monday, February 16th. Piper Sandler started coverage on Community West Bancshares in a research report on Monday, April 13th. They set an “overweight” rating and a $30.00 target price on the stock. Keefe, Bruyette & Woods upped their target price on Community West Bancshares from $23.00 to $25.00 and gave the company a “market perform” rating in a research report on Wednesday, December 31st. Finally, Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Community West Bancshares in a research report on Friday, March 27th. Three research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to MarketBeat.com, Community West Bancshares currently has a consensus rating of “Moderate Buy” and a consensus price target of $28.00.

Institutional Trading of Community West Bancshares

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Dimensional Fund Advisors LP grew its holdings in Community West Bancshares by 2.1% during the fourth quarter. Dimensional Fund Advisors LP now owns 802,410 shares of the financial services provider’s stock worth $18,054,000 after acquiring an additional 16,370 shares during the period. State Street Corp grew its holdings in Community West Bancshares by 5.1% during the fourth quarter. State Street Corp now owns 334,322 shares of the financial services provider’s stock worth $7,522,000 after acquiring an additional 16,340 shares during the period. Renaissance Technologies LLC grew its holdings in Community West Bancshares by 85.5% during the fourth quarter. Renaissance Technologies LLC now owns 167,008 shares of the financial services provider’s stock worth $3,758,000 after acquiring an additional 77,000 shares during the period. Wellington Management Group LLP grew its holdings in Community West Bancshares by 3.8% during the fourth quarter. Wellington Management Group LLP now owns 164,621 shares of the financial services provider’s stock worth $3,704,000 after acquiring an additional 5,980 shares during the period. Finally, Goldman Sachs Group Inc. grew its holdings in Community West Bancshares by 70.6% during the fourth quarter. Goldman Sachs Group Inc. now owns 70,771 shares of the financial services provider’s stock worth $1,592,000 after acquiring an additional 29,299 shares during the period. 33.80% of the stock is owned by institutional investors and hedge funds.

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.