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

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

Other research analysts also recently issued research reports about the stock. StockNews.com initiated coverage on shares of Community West Bancshares in a research report on Tuesday, April 2nd. They set a hold rating on the stock. TheStreet cut 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

Shares of CWBC opened at $18.24 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 simple moving average is $15.66 and its two-hundred day simple moving average is $14.98. Community West Bancshares has a 12 month low of $12.59 and a 12 month high of $24.47. The stock has a market capitalization of $162.52 million, a P/E ratio of 8.41 and a beta of 0.85.

Community West Bancshares (NASDAQ:CWBC) last announced its earnings results on Thursday, January 18th. The financial services provider reported $0.50 EPS for the quarter, missing the consensus estimate of $0.52 by ($0.02). Community West Bancshares had a net margin of 23.39% and a return on equity of 13.47%. The business had revenue of $22.38 million for the quarter, compared to the consensus estimate of $21.86 million. As a group, analysts predict that Community West Bancshares will post 1.85 EPS for the current year.

Community West Bancshares Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, February 29th. Stockholders of record on Friday, February 9th were given a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a dividend yield of 1.75%. The ex-dividend date was Thursday, February 8th. Community West Bancshares’s payout ratio is 22.12%.

Institutional Trading of Community West Bancshares

Hedge funds have recently bought and sold shares of the business. Renaissance Technologies LLC bought a new position in shares of Community West Bancshares in the first quarter valued at $214,000. First Manhattan Co. lifted its position in Community West Bancshares by 4.6% in the 1st 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 Community West Bancshares during the 1st quarter valued at about $165,000. State Street Corp increased its holdings in Community West Bancshares by 44.9% during the 2nd quarter. State Street Corp now owns 17,252 shares of the financial services provider’s stock worth $247,000 after purchasing an additional 5,343 shares in the last quarter. Finally, BlackRock Inc. raised 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 worth $437,000 after purchasing an additional 1,556 shares during the last quarter. Institutional investors and hedge funds own 33.80% of the company’s stock.

About Community West Bancshares

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.