Community West Bancshares (NASDAQ:CWBC) Earns Overweight Rating from Analysts at Piper Sandler

Piper Sandler assumed coverage on shares of Community West Bancshares (NASDAQ:CWBC) in a research note issued to investors on Monday morning, MarketBeat reports. The firm issued an overweight rating and a $30.00 price target on the financial services provider’s stock.

Other analysts have also recently issued research reports about the company. DA Davidson increased their target price on Community West Bancshares from $26.00 to $29.00 and gave the stock a “buy” rating in a report on Monday, January 26th. Zacks Research cut Community West Bancshares from a “strong-buy” rating to a “hold” rating in a report on Monday, February 16th. Weiss Ratings restated a “buy (b-)” rating on shares of Community West Bancshares in a report on Friday, March 27th. Finally, Keefe, Bruyette & Woods increased their target price on Community West Bancshares from $23.00 to $25.00 and gave the stock a “market perform” rating in a report on Wednesday, December 31st. Three analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, Community West Bancshares has a consensus rating of “Moderate Buy” and a consensus target price of $28.00.

Community West Bancshares Price Performance

Shares of CWBC stock opened at $24.12 on Monday. The stock’s fifty day moving average is $23.51 and its 200-day moving average is $22.70. 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 stock has a market capitalization of $462.36 million, a PE ratio of 12.06 and a beta of 0.89. Community West Bancshares has a 52 week low of $15.80 and a 52 week high of $25.72.

Community West Bancshares (NASDAQ:CWBC) last announced its earnings results on Thursday, January 22nd. The financial services provider reported $0.60 EPS for the quarter, topping the consensus estimate of $0.57 by $0.03. The company had revenue of $32.89 million for the quarter, compared to analysts’ expectations of $38.38 million. Community West Bancshares had a return on equity of 9.94% and a net margin of 19.45%. Equities research analysts expect that Community West Bancshares will post 2.15 EPS for the current fiscal year.

Community West Bancshares Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, February 20th. Investors of record on Friday, February 6th were issued a $0.12 dividend. The ex-dividend date was Friday, February 6th. This represents a $0.48 annualized dividend and a yield of 2.0%. Community West Bancshares’s dividend payout ratio (DPR) is currently 24.00%.

Hedge Funds Weigh In On Community West Bancshares

Several hedge funds have recently added to or reduced their stakes in the company. Dimensional Fund Advisors LP boosted its holdings in Community West Bancshares by 2.1% in the fourth quarter. Dimensional Fund Advisors LP now owns 802,410 shares of the financial services provider’s stock valued at $18,054,000 after acquiring an additional 16,370 shares during the last quarter. Systematic Financial Management LP boosted its holdings in Community West Bancshares by 34.1% in the fourth quarter. Systematic Financial Management LP now owns 411,859 shares of the financial services provider’s stock valued at $9,267,000 after acquiring an additional 104,779 shares during the last quarter. State Street Corp boosted 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 buying an additional 16,340 shares during the last quarter. Renaissance Technologies LLC boosted 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 buying an additional 77,000 shares during the last quarter. Finally, Wellington Management Group LLP boosted 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 buying an additional 5,980 shares during the last quarter. Institutional investors own 33.80% of the company’s stock.

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.