Commercewest Bank (CWBK) Upgraded at Zacks Investment Research

Commercewest Bank (OTCBB:CWBK) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued on Monday, January 8th. The brokerage currently has a $26.00 price target on the stock. Zacks Investment Research‘s price target would indicate a potential upside of 9.70% from the company’s previous close.

According to Zacks, “CommerceWest Bank provides a wide range of specialized commercial banking and financial services to entrepreneurs and small- to mid-sized businesses in southern California. Headquartered in Irvine, California, the company offers basic and analyzed checking accounts, money market accounts, saving accounts, certificates of deposit, attorney client services, and escrow accounts. The banks lending portfolio includes lines of credit; term loans; multifamily, construction, and commercial real estate loans; equipment financing; asset-based lines of credit; small business administration loans; state guaranteed programs; and letter of credit. It also offers online banking services, such as balance transfers, stop payments, make loan payments, and loan transfers. The company also offers various cash management services, signature services, and turnaround services. Regional offices are located throughout Southern California in Orange County, Inland Empire and Los Angeles. “

Shares of Commercewest Bank (OTCBB:CWBK) opened at $23.70 on Monday. The stock has a market cap of $90.99, a price-to-earnings ratio of 18.36 and a beta of 0.46. Commercewest Bank has a 1 year low of $17.90 and a 1 year high of $24.30.

Commercewest Bank (OTCBB:CWBK) last issued its earnings results on Thursday, October 26th. The company reported $0.33 earnings per share for the quarter, missing the consensus estimate of $0.36 by ($0.03). The company had revenue of $5.45 million for the quarter, compared to the consensus estimate of $5.70 million. equities analysts anticipate that Commercewest Bank will post 1.31 earnings per share for the current year.

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About Commercewest Bank

CommerceWest Bank, N.A. provides various commercial banking services to the small and mid-sized businesses in southern California. It offers checking accounts, money market deposit accounts, saving accounts, certificates of deposits, sweep accounts, attorney client trust accounts, and now and escrow trust accounts; and real estate loans, such as owner user commercial real estate loans, commercial or industrial building loans, office and retail building loans, and multi-family real estate loans.

Get a free copy of the Zacks research report on Commercewest Bank (CWBK)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

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