Community West Bancshares (NASDAQ:CWBC) Price Target Raised to $24.00 at Piper Sandler

Community West Bancshares (NASDAQ:CWBC) had its target price boosted by Piper Sandler from $22.00 to $24.00 in a report published on Monday morning, Benzinga reports. The brokerage currently has an overweight rating on the financial services provider’s stock.

Several other analysts have also issued reports on the stock. StockNews.com began coverage on shares of Community West Bancshares in a research report on Tuesday, April 2nd. They set a hold rating on the stock. TheStreet lowered shares of Community West Bancshares from a b- rating to a c+ rating in a research report on Monday, January 29th.

Community West Bancshares Stock Performance

NASDAQ CWBC opened at $18.39 on Monday. The company has a current ratio of 0.65, a quick ratio of 0.65 and a debt-to-equity ratio of 0.34. The firm’s fifty day moving average price is $15.75 and its two-hundred day moving average price is $15.00. Community West Bancshares has a 1 year low of $12.59 and a 1 year high of $24.47. The firm has a market capitalization of $163.85 million, a P/E ratio of 8.47 and a beta of 0.85.

Community West Bancshares (NASDAQ:CWBC) last posted its quarterly earnings results on Thursday, January 18th. The financial services provider reported $0.50 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.52 by ($0.02). Community West Bancshares had a return on equity of 13.47% and a net margin of 23.39%. The firm had revenue of $22.38 million for the quarter, compared to the consensus estimate of $21.86 million. As a group, research analysts anticipate that Community West Bancshares will post 1.9 EPS for the current year.

Community West Bancshares Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, February 29th. Stockholders of record on Friday, February 9th were given a $0.08 dividend. This represents a $0.32 annualized dividend and a dividend yield of 1.74%. The ex-dividend date of this dividend was Thursday, February 8th. Community West Bancshares’s payout ratio is presently 22.12%.

Hedge Funds Weigh In On Community West Bancshares

Several large investors have recently modified their holdings of the stock. Renaissance Technologies LLC acquired a new position in shares of Community West Bancshares in the first quarter valued at about $214,000. First Manhattan Co. grew its stake in shares of Community West Bancshares by 4.6% in the first quarter. First Manhattan Co. now owns 42,757 shares of the financial services provider’s stock valued at $599,000 after acquiring an additional 1,869 shares in the last quarter. Jane Street Group LLC acquired a new position in shares of Community West Bancshares in the first quarter valued at about $165,000. State Street Corp grew its stake in shares of Community West Bancshares by 44.9% in the second quarter. State Street Corp now owns 17,252 shares of the financial services provider’s stock valued at $247,000 after acquiring an additional 5,343 shares in the last quarter. Finally, BlackRock Inc. grew its stake in shares of Community West Bancshares by 5.2% in the third quarter. BlackRock Inc. now owns 31,264 shares of the financial services provider’s stock valued at $437,000 after acquiring an additional 1,556 shares in the last quarter. 33.80% of the stock is owned by institutional investors.

Community West Bancshares Company Profile

Community West Bancshares operates as the bank holding company for Community West Bank, N.A. that provides various financial products and services in California. The company offers deposit products, such as checking accounts, savings accounts, money market accounts, and fixed rate and fixed maturity certificates of deposits; and cash management products.