Community West Bancshares (NASDAQ:CWBC) Announces Earnings Results, Beats Expectations By $0.15 EPS

Community West Bancshares (NASDAQ:CWBC) posted its earnings results on Thursday. The financial services provider reported $0.45 EPS for the quarter, topping the consensus estimate of $0.30 by $0.15, FiscalAI reports. Community West Bancshares had a net margin of 20.77% and a return on equity of 10.44%. The firm had revenue of $48.40 million for the quarter, compared to the consensus estimate of $55.65 million.

Community West Bancshares Price Performance

NASDAQ:CWBC traded down $0.13 during trading hours on Thursday, reaching $26.62. The company had a trading volume of 312,966 shares, compared to its average volume of 250,140. The firm has a market capitalization of $722.20 million, a PE ratio of 12.32 and a beta of 0.80. The stock has a 50-day moving average of $25.53 and a two-hundred day moving average of $24.24. Community West Bancshares has a one year low of $18.50 and a one year high of $28.17. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.17.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on CWBC. Wall Street Zen raised Community West Bancshares from a “sell” rating to a “hold” rating in a report on Sunday, May 17th. DA Davidson restated a “buy” rating and issued a $29.00 target price on shares of Community West Bancshares in a report on Tuesday, April 28th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Community West Bancshares in a research report on Friday, July 10th. Finally, Piper Sandler increased their price target on Community West Bancshares from $30.00 to $30.50 and gave the company an “overweight” rating in a report on Monday, April 27th. Three equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $28.17.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of CWBC. Russell Investments Group Ltd. boosted its stake in 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 purchasing an additional 1,709 shares in the last quarter. Raymond James Financial Inc. acquired a new stake in shares of Community West Bancshares in the second quarter valued at $46,000. Tower Research Capital LLC TRC raised its holdings in shares of 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 buying an additional 1,393 shares during the last quarter. BNP Paribas Financial Markets raised its holdings in shares of Community West Bancshares by 65.7% in the third quarter. BNP Paribas Financial Markets now owns 7,795 shares of the financial services provider’s stock valued at $162,000 after buying an additional 3,090 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD acquired a new position in Community West Bancshares during the 4th quarter worth about $225,000. 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.