Shares of Community West Bancshares (NASDAQ:CWBC – Get Free Report) passed below its 50-day moving average during trading on Tuesday. The stock has a 50-day moving average of $26.04 and traded as low as $25.94. Community West Bancshares shares last traded at $26.02, with a volume of 144,909 shares trading hands.
Wall Street Analysts Forecast Growth
Several analysts have commented on CWBC shares. DA Davidson increased their target price on Community West Bancshares from $29.00 to $31.00 and gave the company a “buy” rating in a research note on Tuesday, October 27th. Benchmark upgraded Community West Bancshares to a “strong-buy” rating in a research note on Wednesday, September 23rd. Finally, Weiss Ratings restated a “buy (b)” rating on shares of Community West Bancshares in a research note on Tuesday, October 6th. One research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $28.83.
Get Our Latest Research Report on Community West Bancshares
Community West Bancshares Trading Down 1.3%
The company has a debt-to-equity ratio of 0.12, a current ratio of 0.89 and a quick ratio of 0.89. The stock’s 50-day moving average is $26.04 and its two-hundred day moving average is $24.93. The company has a market cap of $705.92 million, a P/E ratio of 16.47 and a beta of 0.86.
Community West Bancshares (NASDAQ:CWBC – Get Free Report) last posted its earnings results on Thursday, October 22nd. The financial services provider reported $0.66 EPS for the quarter, topping analysts’ consensus estimates of $0.57 by $0.09. The business had revenue of $57.69 million during the quarter, compared to the consensus estimate of $56.79 million. Community West Bancshares had a net margin of 14.05% and a return on equity of 11.14%. As a group, equities research analysts predict that Community West Bancshares will post 2.36 earnings per share for the current fiscal year.
Community West Bancshares Announces Dividend
The company also recently declared a quarterly dividend, which will be paid on Friday, November 20th. Stockholders of record on Friday, November 6th will be paid a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.8%. The ex-dividend date is Friday, November 6th. Community West Bancshares’s dividend payout ratio (DPR) is 30.38%.
Insider Activity at Community West Bancshares
In other news, Director Jagroop Gill acquired 4,770 shares of the business’s stock in a transaction that occurred on Monday, August 10th. The stock was bought at an average price of $24.88 per share, with a total value of $118,677.60. Following the completion of the acquisition, the director directly owned 588,067 shares of the company’s stock, valued at approximately $14,631,106.96. The trade was a 0.82% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders acquired a total of 5,374 shares of company stock valued at $133,078 over the last three months. Insiders own 9.03% of the company’s stock.
Institutional Inflows and Outflows
Several institutional investors and hedge funds have recently bought and sold shares of CWBC. State of Alaska Department of Revenue grew its stake in shares of Community West Bancshares by 53.3% during the 3rd quarter. State of Alaska Department of Revenue now owns 1,147 shares of the financial services provider’s stock valued at $29,000 after purchasing an additional 399 shares during the period. KERR FINANCIAL PLANNING Corp bought a new position in shares of Community West Bancshares in the 1st quarter worth approximately $38,000. Legal & General Group Plc bought a new position in shares of Community West Bancshares in the 2nd quarter worth approximately $64,000. PNC Financial Services Group Inc. lifted its stake in shares of Community West Bancshares by 56.3% in the 1st quarter. PNC Financial Services Group Inc. now owns 4,188 shares of the financial services provider’s stock worth $98,000 after purchasing an additional 1,508 shares during the period. Finally, Allworth Financial LP purchased a new position in shares of Community West Bancshares in the second quarter worth approximately $198,000. 33.80% of the stock is owned by hedge funds and other institutional investors.
About Community West Bancshares
Community West Bancshares is a bank holding company headquartered in Goleta, California. Through its wholly owned subsidiary, Community West Bank, the company provides banking and financial services primarily to businesses, professionals, nonprofit organizations and individuals.
Community West Bank offers commercial and industrial lending, commercial real estate loans, construction financing, Small Business Administration lending and residential mortgage products. Its deposit and business banking services include checking and savings accounts, certificates of deposit, online banking, cash management and other treasury management solutions.
The company serves customers through offices and banking operations focused on California’s Central Coast, including the Santa Barbara, Ventura and San Luis Obispo areas.
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