Community West Bancshares (NASDAQ:CWBC) Issues Quarterly Earnings Results, Beats Estimates By $0.15 EPS

Community West Bancshares (NASDAQ:CWBC) posted its quarterly earnings data on Thursday. The financial services provider reported $0.45 earnings per share 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 company had revenue of $48.40 million during the quarter, compared to analyst estimates of $55.65 million.

Community West Bancshares Trading Down 0.5%

Shares of CWBC stock traded down $0.13 on Thursday, reaching $26.62. 312,966 shares of the stock were exchanged, compared to its average volume of 250,965. The company has a debt-to-equity ratio of 0.17, a current ratio of 0.86 and a quick ratio of 0.86. Community West Bancshares has a one year low of $18.50 and a one year high of $28.17. The stock has a market cap of $722.20 million, a PE ratio of 12.32 and a beta of 0.80. The stock has a 50 day moving average price of $25.53 and a 200 day moving average price of $24.24.

Analyst Ratings Changes

CWBC has been the topic of a number of recent analyst reports. Weiss Ratings reissued a “buy (b)” rating on shares of Community West Bancshares in a research note on Friday, July 10th. Piper Sandler upped their price target on shares of Community West Bancshares from $30.00 to $30.50 and gave the stock an “overweight” rating in a research report on Monday, April 27th. Wall Street Zen upgraded shares of Community West Bancshares from a “sell” rating to a “hold” rating in a research report on Sunday, May 17th. Finally, DA Davidson reaffirmed a “buy” rating and issued a $29.00 target price on shares of Community West Bancshares in a research note on Tuesday, April 28th. Three investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $28.17.

Institutional Trading of Community West Bancshares

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in CWBC. Russell Investments Group Ltd. raised its stake in shares of Community West Bancshares by 623.7% during the third quarter. Russell Investments Group Ltd. now owns 1,983 shares of the financial services provider’s stock worth $41,000 after buying an additional 1,709 shares during the last quarter. Raymond James Financial Inc. acquired a new position in Community West Bancshares in the second quarter valued at approximately $46,000. Tower Research Capital LLC TRC boosted its stake in 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 acquiring an additional 1,393 shares during the last quarter. BNP Paribas Financial Markets grew its holdings in Community West Bancshares by 65.7% during the 3rd quarter. BNP Paribas Financial Markets now owns 7,795 shares of the financial services provider’s stock worth $162,000 after acquiring an additional 3,090 shares during the period. Finally, Price T Rowe Associates Inc. MD acquired a new stake in Community West Bancshares during the 4th quarter worth $225,000. 33.80% of the stock is currently 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.