Community West Bancshares (NASDAQ:CWBC) Announces Quarterly Earnings Results

Community West Bancshares (NASDAQ:CWBC) posted its quarterly earnings data on Thursday. The financial services provider reported $0.66 EPS for the quarter, beating analysts’ consensus estimates of $0.57 by $0.09, FiscalAI reports. The company had revenue of $57.69 million for the quarter, compared to analyst estimates of $56.79 million. Community West Bancshares had a net margin of 16.86% and a return on equity of 10.12%.

Community West Bancshares Stock Performance

NASDAQ:CWBC opened at $26.29 on Friday. The firm’s fifty day simple moving average is $26.05 and its 200-day simple moving average is $25.41. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 0.12. The stock has a market cap of $713.25 million, a PE ratio of 14.21 and a beta of 0.82. Community West Bancshares has a fifty-two week low of $20.70 and a fifty-two week high of $28.17.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on CWBC shares. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Community West Bancshares in a report on Tuesday, October 6th. Benchmark upgraded Community West Bancshares to a “strong-buy” rating in a research report on Wednesday, September 23rd. One research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat.com, Community West Bancshares has an average rating of “Moderate Buy” and an average target price of $28.17.

Insider Activity at Community West Bancshares

In related news, Director Jagroop Gill bought 4,770 shares of the stock in a transaction on Monday, August 10th. The shares were bought at an average cost of $24.88 per share, for a total transaction of $118,677.60. Following the completion of the transaction, the director owned 588,067 shares of the company’s stock, valued at $14,631,106.96. This represents a 0.82% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders have bought a total of 5,374 shares of company stock valued at $133,078 in the last ninety days. 9.03% of the stock is owned by company insiders.

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.