Community West Bancshares (NASDAQ:CWBC) Releases Quarterly Earnings Results, Beats Estimates By $998.48 EPS

Community West Bancshares (NASDAQ:CWBC) announced its earnings results on Thursday. The financial services provider reported $999.00 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.52 by $998.48, Zacks reports. Community West Bancshares had a return on equity of 9.94% and a net margin of 19.45%.

Community West Bancshares Price Performance

NASDAQ CWBC traded down $0.04 during trading on Thursday, reaching $23.94. The company’s stock had a trading volume of 246,164 shares, compared to its average volume of 162,035. The stock has a market capitalization of $458.93 million, a PE ratio of 11.97 and a beta of 0.89. The company has a debt-to-equity ratio of 0.17, a current ratio of 0.85 and a quick ratio of 0.85. The firm has a fifty day moving average of $23.42 and a 200 day moving average of $22.82. Community West Bancshares has a one year low of $16.80 and a one year high of $25.72.

Wall Street Analyst Weigh In

CWBC has been the topic of several research analyst reports. DA Davidson boosted their price objective on Community West Bancshares from $26.00 to $29.00 and gave the stock a “buy” rating in a research report on Monday, January 26th. Zacks Research cut Community West Bancshares from a “strong-buy” rating to a “hold” rating in a research report on Monday, February 16th. Piper Sandler initiated coverage on Community West Bancshares in a research report on Monday, April 13th. They issued an “overweight” rating and a $30.00 price objective on the stock. Weiss Ratings reissued a “buy (b-)” rating on shares of Community West Bancshares in a research report on Friday, March 27th. Finally, Keefe, Bruyette & Woods upped their price target 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. Three research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to MarketBeat, Community West Bancshares currently has a consensus rating of “Moderate Buy” and a consensus price target of $28.00.

Hedge Funds Weigh In On Community West Bancshares

Several institutional investors have recently modified their holdings of CWBC. Cubist Systematic Strategies LLC bought a new position in shares of Community West Bancshares during the 1st quarter valued at about $210,000. Jane Street Group LLC bought a new position in shares of Community West Bancshares during the 1st quarter valued at about $591,000. JPMorgan Chase & Co. boosted its holdings in Community West Bancshares by 42.5% during the 2nd quarter. JPMorgan Chase & Co. now owns 21,357 shares of the financial services provider’s stock valued at $417,000 after acquiring an additional 6,369 shares during the period. Rhumbline Advisers boosted its holdings in Community West Bancshares by 46.2% during the 2nd quarter. Rhumbline Advisers now owns 25,850 shares of the financial services provider’s stock valued at $504,000 after acquiring an additional 8,173 shares during the period. Finally, Hsbc Holdings PLC purchased a new stake in Community West Bancshares during the 2nd quarter valued at about $485,000. 33.80% of the stock is currently owned by institutional investors.

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.