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

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

A number of other research analysts also recently weighed in on the stock. TheStreet downgraded shares of Community West Bancshares from a b- rating to a c+ rating in a research report on Monday, January 29th. StockNews.com began coverage on shares of Community West Bancshares in a research report on Tuesday, April 2nd. They set a hold rating for the company.

Community West Bancshares Trading Up 0.8 %

Shares of CWBC stock opened at $18.39 on Monday. Community West Bancshares has a 52-week low of $12.59 and a 52-week high of $24.47. The company has a debt-to-equity ratio of 0.34, a quick ratio of 0.65 and a current ratio of 0.65. The company has a 50-day simple moving average of $15.75 and a two-hundred day simple moving average of $15.00. The company has a market capitalization of $163.85 million, a price-to-earnings ratio of 8.47 and a beta of 0.85.

Community West Bancshares (NASDAQ:CWBC) last released its earnings results on Thursday, January 18th. The financial services provider reported $0.50 earnings per share for the quarter, missing analysts’ consensus estimates 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 company had revenue of $22.38 million for the quarter, compared to the consensus estimate of $21.86 million. Research analysts anticipate that Community West Bancshares will post 1.9 EPS for the current fiscal year.

Community West Bancshares Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, February 29th. Investors of record on Friday, February 9th were paid a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a dividend yield of 1.74%. The ex-dividend date was Thursday, February 8th. Community West Bancshares’s payout ratio is currently 22.12%.

Institutional Trading of Community West Bancshares

A number of institutional investors have recently modified their holdings of CWBC. Renaissance Technologies LLC purchased a new stake in shares of Community West Bancshares during the 1st quarter valued at approximately $214,000. First Manhattan Co. lifted its stake in shares of Community West Bancshares by 4.6% during the 1st quarter. First Manhattan Co. now owns 42,757 shares of the financial services provider’s stock valued at $599,000 after buying an additional 1,869 shares in the last quarter. Jane Street Group LLC purchased a new stake in shares of Community West Bancshares during the 1st quarter valued at approximately $165,000. State Street Corp lifted its stake in shares of 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 valued at $247,000 after buying an additional 5,343 shares in the last quarter. Finally, BlackRock Inc. lifted its stake in shares of Community West Bancshares by 5.2% during the 3rd quarter. BlackRock Inc. now owns 31,264 shares of the financial services provider’s stock valued at $437,000 after buying an additional 1,556 shares in the last quarter. 33.80% of the stock is currently owned by hedge funds and other institutional investors.

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.